Prenuptial agreements are proactive pacts between soon-to-be spouses to protect their assets should a marriage end. Prenup numbers continue to grow year over year. However, one trend represents a new direction. What once was a male-dominated request is now becoming popular with women looking to protect their possessions.
The growing popularity of prenups
With divorces continuing to increase at higher rates than ever, prenups are becoming valid options. The document goes beyond protecting assets and can also help secure children’s financial interests. Studies reveal that nearly 44 percent of singles see the value in prenups prior to walking down the aisle. Another study saw couples who ended up in divorce court expressing regret that they did not have a prenup.
Specific priorities include:
- Securing the property they brought into the marriage
- Spousal maintenance, also known as alimony
- Property division
Another protective step involves married couples keeping a portion of financial resources out of the proverbial “pool” of resources. However, that strategy plants the seeds for divorce. Studies show that the perceived lack of trust will likely lead to marital issues, with many couples heading down the path of marital dissolution.
Conversely, many prenups can solidify a marriage’s foundation, making it a proactively pragmatic step. Reluctance still prevails in the lead-up to a wedding. Resistance to the document can breed distrust.
Still, experts support the document that can establish a foundation of trust, a vital component in a successful marriage. Issues can be resolved in mediation before walking down the aisle. A mediator can level the playing field, collecting financial and other data to find common ground so that both spouses can live a hopefully long and healthy marriage.