Why Prenuptial Agreements Are On The Rise

Reuters reports that prenuptial agreements are on the rise and not just among affluent couples. Prenuptial agreements can protect against debt, assign who gets to keep pets and contain adultery clauses. More middle-class couples are signing prenuptial agreements and more women are requesting them. Because prenuptial agreements can protect against debt they can be beneficial to couples at all income levels. An agreement can aim to protect one spouse from debt accumulated by the other spouse prior to marriage. The contracts can contain payment provisions or a “signing bonus” for a spouse who sacrifices his or her career for the marriage. An example, is a couple that decides one of them will sacrifice his or her career because the other spouse has a career that requires frequent relocations. Also gaining in popularity are provisions that protect retirement benefits in the event of divorce. The American Academy of Matrimonial Lawyers (AAML) recently polled its membership regarding prenuptial agreements. Three-quarters of the attorneys who responded to the poll reported that prenuptial agreements have increased in popularity in the last five years and over half said more women are requesting them. If you have questions about prenuptial agreements, call me.