A new reality of increased acceptance for prenups, Part 2

On Behalf of | Feb 5, 2018 | Firm News, prenuptial agreements

And that is certainly the case, with that article specifically noting that prenuptial contracts are garnering increasing interest among younger individuals and couples contemplating marriage.

Why is that?

“It’s just a practical document in today’s age,” says one young woman with an impending marriage date. Her comment closely tracks others from what is apparently a new and large audience that is increasingly inclined to consider prenups objectively (that is, on the merits and without emotional baggage attached).

The growing crowd of adherents is confirmed by on-point evidence from the American Academy of Matrimonial Lawyers. A recent AAML survey revealed that more than half of attorney respondents point to a jump in younger people wanting to negotiate and execute prenups.

And there’s more than that. Reportedly, older individuals, too, are increasingly inclined to consider marital contracts closely and work with proven family law attorneys to draft them in tailored ways that materially promote important interests.

The broad utility in prenups can be quickly appreciated. For a younger and soon-to-be-married couple, a prenuptial agreement can help to preserve separate property going into a marriage, protect a family business and/or inheritance and safeguard against debt (including student-loan exactions).

And the benefits for a comparatively older person (especially an individual nearing retirement age or already retired who is entering a second or subsequent marriage) can be just as clear. A marital contract can safeguard accrued wealth for adult children, protect existing business interests and savings vehicles, and help ensure that financial exploitation does not occur.

As is true with many legal instruments, there is a learning curve associated with prenups. An individual seeking to know more about this important planning tool can contact an experienced family law attorney for further information and candid guidance.