A New Generation of Marriage: Prenuptial Agreements for the Common (wo)Man.
In our society prenuptial agreements are seen as only beneficial for the super wealthy. Alternatively, it is taboo to speak about it, as if it brings bad luck to a marriage to speak about what will happen if it doesn’t work out. It’s understandable, no one wants to think about the terrible possibility of divorce during engagement bliss. However, a few pre-nuptial mediation sessions, could not only help you save tens of thousands dollars and prolonged divorce proceedings if you do end up getting divorced, but can actually help you two grow closer and help solidify the marriage.
Divorce rates have skyrocketed since the 1970s due to its availability. However, Millennials have the lowest divorce rate (only 29%) as compared to baby boomers and Gen X. This is because Millennials are entering marriages smarter.
Many Millennials are products of divorced parents where they saw the turmoil divorce via litigation can cause, so are more cautious of entering into marriage.
Many Millennials are getting married later in life and with a partner they have been with for years, so most of the living together kinks have been worked out.
Many Millennials get pre-nuptial agreements that help them enter the marriage with full understanding and knowledge about the finances of their relationship, so they are having these discussions before walking down the aisle.
Ask any married couple and they will tell you that finances are one the top reasons for their arguments. Pre-nuptial agreements can help couples understand what to expect from their relationship financially, so there are no misconceptions during the marriage. You two can discuss what happens if one parent wants to stay home with the children, how to save up for retirement, and what is and isn’t considered martial property like inheritances, etc.
With more couples getting married older than previous generations, many people enter the marriage with assets, debts (hello, student loans!), and with careers already established. This is a huge difference as compared to previous generations where previous generations got married in their early 20s, they developed careers, assets and debts together during the marriage.
Pre-nuptial agreements not only help protect the assets you bring to a marriage, but can protect one another from each other debts.
Rather than allowing the court divide how you want to arrange your finances during and after the marriage, or decide what is “fair” for your family —you two get to decide together while you love each other.
Pre-nuptial agreements are not just for the wealthy, they are beneficial to all couples entering marriage. Enter the marriage with confidence and understanding.
