Most Rhode Island residents probably know that the divorce rate continues to be high in the United States. Divorce can involve many family law issues, such as property and asset division, custody arrangements, child support and alimony. In light of this fact, more couples are opting to enter into a prenuptial agreement prior to marriage.
In the past and even today, many individuals think of prenuptial agreements as only being used by wealthy couples. People also may imagine prenuptial agreements to be requested by the male in the relationship. Apparently, times have changed. Not only are prenuptial agreements beneficial for couples of all socioeconomic backgrounds, but they are being requested by both genders.
According to a survey performed by the American Academy of Matrimonial Lawyers, prenuptial agreements are on the rise by 63 percent over the last three years. What may be surprising is that there was a 46 percent increase in the number of women requesting prenuptial agreements. Women and men alike are aware of the financial risks, as well as potential gains, a person enters into when combining two lives.
Prenuptial agreements do not come in a one-size-fits-all package. The agreement are different for everyone, and the couple can tailor the agreement to fit their individual needs. The agreement can spell out what property will be classified as marital property and who will take ownership of which assets should a divorce occur. Divorce can be challenging, but with a comprehensive prenuptial agreement in place, the stress can be dramatically minimized.
Source: The Huffington Post, "Prenuptial Agreements Are on the Rise, And More Women Are Requesting Them," Oct. 22, 2013