More Americans are choosing to draft prenuptial agreements

On Behalf of | Oct 18, 2023 | Prenuptial Agreements

Planning for the possibility of divorce does not mean that a soon-to-be spouse is assuming the marriage will end in divorce at some point in the future. Many Virginia couples are finding that they enjoy the protections provided by a marital contract, something that offers them confidence regarding their interests in case of a divorce in the future. It is becoming more common for millennials to draft a prenuptial agreement before they marry than any other generation.

Planning for the future

Many Americans avoid drafting prenuptial agreements because they assume that they are not necessary or that they are not wealthy enough to justify the effort. However, there are significant benefits to drafting a prenuptial agreement regardless of income level, including the peace of mind that comes from knowing complex property division litigation is not necessary in the event of a divorce.

Younger generations are now more prone to draft prenuptial agreements. Statistics indicate that approximately 47% of millennials drafted a prenuptial agreement before marriage, while 41% of Gen X took this step. For younger generations, there may not be as much stigma associated with drafting a prenuptial agreement.

The benefit of preparation

Drafting a prenuptial agreement is not something only necessary or important for the rich and famous. While drafting this agreement and negotiating terms, a couple can discuss important financial concerns, designate financial responsibilities and decide how to divide marital property in case of a divorce. This can provide peace of mind for a Virginia couple as they prepare to start their life together.