The Rise in Popularity of Prenuptial Agreements
Half of U.S. adults say they're open to signing a prenup, according to new data.
This is a major jump from years prior. And guess what? Prenups are not only for the rich and famous - in fact, many of our prenup clients are just like you: business owners, doctors, lawyers, tech industry executives, and creatives.
So, why is the popularity of prenups rising?
Prenups have become less taboo.
We live in a social-media-dominated, share-all society. People are more open about the fact that they have a prenup. And as our society changes generally, people are more open to changing the “old school” marriage routine - and carving out a way to govern their marriage on their own terms. This trend correlates with the overall U.S. marriage rate as well - the number of newly married people per capita has dropped consistently and steadily since 1970. People are more open to creating their own definitions and terms for their own relationships.
Millennials are more likely to have watched their parents endure nasty divorces.
Many people who contact us about prenups discuss their own parents’ nasty divorces. They’re choosing to get married, with optimism and joy, but they know that things can change, and when it does, it can get ugly. They’ve seen it firsthand and have already experienced pain from divorce. Maybe they were put in the middle of a contentious custody dispute. Maybe they had to move or switch schools due to lifestyle and financial changes.
Many of these folks look at a prenup like insurance: you don’t think your house is going to burn down, but you sure as hell aren’t going to be without homeowner’s insurance. They also look at this as a way to protect future children from potential acrimony. If the parties never get divorced, great - that’s the goal. But if they do, people want to spare their children from the ugliness and pain they endured to maximum extent possible.
With societal changes, less people agree with the default laws.
Even without a prenup, something has to determine what will happen to your assets, debts, income, and expenses upon a divorce. If you don’t have a prenup, the family code in the state you live in will determine these important issues.
But what happens if you don’t agree to some, or all, of the standard rules? Maybe you don’t agree with how spousal support is calculated in California. Maybe you don’t agree with the standard community property arrangement. Maybe you think that at least some marital income should be carved out as separate property.
If you don’t agree with the standard rules, which - let’s be frank - are a bit outdated - a prenup is the opportunity to customize. And at the very least, even without a prenup, you should understand the terms of the legal and financial relationship that defines what a marriage is.
Emily Rubenstein Law, PC is a full-service divorce and family law firm. We proudly serve Beverly Hills, West Hollywood, West Los Angeles, Santa Monica, Culver City, the South Bay, Glendale, Pasadena, Sherman Oaks, Studio City, Encino and all of Los Angeles County.