Millennials are changing the way couples look at prenuptial agreements. The idea that couples with prenuptial agreements are anticipating divorce is fading with the past. According to the American Academy of Matrimonial Lawyers (AAML), the majority of lawyers have seen a rise in the number of couples asking for prenuptial agreements.
The benefits of a prenuptial agreement — as a kind of emergency divorce action plan — are clear. Spouses who create these documents tend to benefit from easier, faster, less stressful and costly divorce proceedings. However, there are also some downsides to prenuptial agreements that couples need to know about before they enter into them.
Many soon-to-be newlyweds are excited to begin their new lives together, but before they take the plunge into marriage there's something that they may want to consider -- signing a prenuptial agreement. As unromantic as this might sound, a prenuptial agreement will be extremely helpful if the marriage ends in divorce, as approximately 33 percent of marriages do.
Many engaged couples wrongly assume that the only people who benefit from prenuptial agreements are the rich and famous. The opposite is actually the case.
Marriages fail for an unlimited number of reasons. Perhaps two spouses were constantly fighting about their religious or political differences, they disagreed on how they should raise their children or one spouse cheated on the other spouse. There are other reasons as well, such as the "pursuer-distancer" pattern, which can be devastating for all relationships.
There are several reasons why a prenuptial agreement might not be valid. As such, if you have a prenuptial agreement, or if you're planning to enter one, you may want to review the following reasons to determine if your prenuptial agreement will hold up in court in the event of a divorce.
If you're in the brink of getting married, you're probably so full of love and excitement for your spouse that the last thing you want to think about is the remote possibility of divorce in the future. However, the reality of marriage in the modern world includes the chance that your love union will not endure until death do us part. For this reason, the most responsible soon-to-be newlyweds are choosing to sign prenuptial agreements.
Your prenuptial agreement will serve as an action plan in the event that divorce is necessary. Essentially, you will have agreed to and planned out many of the most difficult elements of your divorce already, and those guidelines can then be followed to quickly and cost-effectively to bring your marriage to a close. Although prenups remain somewhat controversial, the utility of the documents is clear, and arguably they should be incorporated into every marriage process.
Your prenuptial agreement could be the document that saves you from spending a fortune on a divorce at some unknown point in the future. No one enters marriage with the idea that they'll one day get divorced; however, the reality is that divorces happen to the best-intentioned couples. And, if you're wise, you will prepare for such a possibility with a prenuptial agreement.
Imagine you're experiencing problems in your marriage. Maybe your spouse was unfaithful to you and now he or she is trying to beg for your forgiveness. When you continue to refuse to drop the matter, your spouse suggests that you sign a postnuptial agreement. According to your spouse, the postnup will serve as a way of renewing your vows. It also offers a promise of fidelity, which if broken will result in you receiving a certain sum of money.