Study: Prenuptial Agreements Becoming More Common

Posted on Nov 25, 2010
A new study released by the American Academy of Matrimonial Lawyers reveals that prenuptial agreements and divorce insurance are gaining popularity among newlyweds across the country. According to the study’s results, 73 percent of family lawyers have seen an increase in demand for prenuptial agreements. Perhaps the most surprising finding is that divorce insurance is not just becoming more popular for upper-class couples with significant property and assets, it is also more common in middle-class unions. The reason? Many couples want to avoid taking responsibility for their spouse’s debt in the event of a divorce.

Family law experts say that these changes make good sense. With the onset of the recession in 2008, many people are much more aware of their financial situation and will go further to protect their assets even when it comes to marriage. In addition, experts say, more people are waiting until later in life when they are married – and when they have already accumulated significant wealth (or debt) as an individual. Finally, many couples are more aware these days that no matter how happy you are when you decide to get married, a significant number of unions will ultimately end in divorce.

The study also noted that some are using divorce insurance and prenuptial agreements in order to protect retirement savings or family inheritance from their partner in the case of a divorce.

It is also important to note that financial issues continue to be a top reason for divorce in the United States and that one of the most common reasons to file for bankruptcy is divorce.

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