Prenuptial Agreements Are Good Planning

PrenupFor years, prenups have been a sticking point for couples who saw them as unromantic, signaling a lack of trust or suggesting that one person is planning for the end of the marriage.

More millennials are delaying the exchanging of wedding vows until later in life. They are actually waiting much longer than previous generations.  However, they’re more likely to have careers, businesses, and property. This makes them more protective of what they’ve built. Because of this notion, the dreaded prenuptial agreement is starting to lose its stigma.

Over time, the calculations for when and why two people should marry has changed. In the 1970s, about 80% of people had married by age 30, according to a U.S. census report. Last year, that same percentage wasn’t reached until age 45. (Wow!)

Millennials say it’s also important for them to be financially secure before they get married, according to a 2015 survey by Allstate and the National Journal. This sentiment increases the odds that when two people marry, they will each have a career or business they want to protect. Some couples are now leveraging prenups for each person to protect assets they’ve accumulated, as well as to protect future income.

There’s been an uptick in the number of young couples interested in prenups, and they’re talking to their fiancés about it. A 2016 survey from the American Academy of Matrimonial Lawyers showed that 62% of members saw an increase in the number of couples asking about prenups, compared to the previous three years. Fifty-one percent said they noticed more millennials asking for the agreements.

In the 1970s, when couples typically married younger, prenups were mainly used for estate-planning and usually when one partner had significantly more wealth or stood to inherit money. As young people now delay marriage until they are more financially secure, prenups are a way for partners to protect their assets and future income. In addition, prenups are a tool for dividing debt loads, especially student loan debt.

Despite these trends, some couples are still using prenups for more traditional reasons. These agreements still aren’t being considered by others who see them as the first step to a divorce. Speak with an experienced estate planning attorney, if you have questions about these agreements and how one may work in your situation.

Reference: Washington Post (August 4, 2017) “Why you’re more likely to have a prenup than your parents were”


Like this article?

Share on facebook
Share on Facebook
Share on twitter
Share on Twitter
Share on linkedin
Share on Linkdin
Share on pinterest
Share on Pinterest

Leave a comment


We have a LOT more where that came from!

We hate spam too. We will never share or sell your information.

Call Now ButtonCall Us Now https://jsfiddle.net/7h5246b8/

Request a free consultation

We hate spam too. We will never share or sell your information.

We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
  • We launched the rollout of our on-demand webinar early so that new clients and our allied professionals can view the important component parts of ‘an estate plan that works’ at their convenience.  That is available on our website.
  • Live video workshops will be produced as quickly as possible and certainly ahead of our previous schedule; we will keep you posted as these events become available. Given the ‘boutique’ nature of the firm, we rarely have more than ten people in our office including team members at any one time. During this period of ‘social distancing,’ we promise to have no more than 8 people at any time.   This allows us to comply with the Governor’s directive to limit in-person gatherings.
  • The best way to communicate with us is still by phone during regular office hours of 8:30 to 5:00, Monday through Friday, or, you can email any of our team members (that is, their first name followed by @zarembalaw.com).  We will respond to these emails as quickly as possible.
  • Please continue to follow the directives of our local, state, and federal agencies. For your health and in consideration of our team who is assisting you, if you’ve scheduled an office appointment or planned to drop off paperwork and are experiencing a fever, dry cough, or shortness of breath, please contact your primary care doctor for guidance and then our office to reschedule.

Thank you, Walt and the Zaremba Team

Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.