Prenuptial agreements have historically had a somewhat mixed reputation among the public. Many people see them as unromantic, as though signing a prenup is evidence that one has no faith in the marriage. Others say that divorce should be the last thing on a person’s mind when they are preparing to get married.
Despite these stereotypes, prenuptial agreements are on the rise in Minnesota and across the country. They’re not just for celebrities. Average couples are turning to prenuptial agreements, often as a way to ensure that they can retain their separate property following a separation.
In fact, a larger number of women are requesting prenuptial agreements than ever before. According to a poll by the American Academy of Matrimonial Lawyers, requests for prenuptial agreements have been on the rise in 63 percent of family law firms. Furthermore, 46 percent of those attorneys saw an increase in the number of women requesting the prenup.
Experts say this may be due to the recovering economy. As people get out from under devalued homes and assets, they gain a strong desire to maintain control of that asset long-term. Spouses are no longer fighting over who has to take on the underwater mortgage. Instead, they wish to ensure that they never have to give it up. This is where prenuptial agreements shine – they help to ensure that spouses get to keep their pre-marital assets after the marriage has ended. These agreements can also help with the division of assets and with the determination of spousal support, which can greatly simplify and accelerate the divorce process.
The Huffington Post, “Prenuptial Agreements Are on the Rise, And More Women Are Requesting Them” No author given, Oct. 22, 2013