The Rise of Prenuptial Agreements

Compared to years and decades prior, prenuptial agreements are becoming increasingly popular. More couples are becoming willing to have open conversations and even sign prenuptial agreements with little to no hesitation. Before you decide to pop the big question or walk down the aisle in Rockville, one of the wisest steps you can take is to obtain a prenuptial agreement that outlines your expectations, wishes, promises, and more.

The data on more couples creating prenuptial agreements

According to an article published in Axios, around 50 percent of America’s adult population is willing to sign prenuptial agreements. Many even support and want to sign these agreements before they get married. This support is growing fast year after year, as it was reported that about 42 percent of American adults supported these documents just one year prior, in 2022. The data indicates that the shift in popularity and willingness to sign a prenup is due to various factors, such as:

• Younger generations (Gen Z and millennials) make up the majority of the population and are less likely to follow the same expectations and guidelines as older generations.
• People are getting married a lot older than they used to. The average age of marriage is now between 28 and 30 when it used to be between 20 and 22 in the 1950s. Therefore, at the time of marriage, many couples may already own businesses and have significant assets, properties, and debt.
• Even though most couples do not want or plan to get divorced, they are realistic about the high divorce rate (42% for first marriages) and want to be prepared in case it happens to them.
• Younger generations watched their parents go through horrific divorces without prenuptial agreements.
• More people are being educated about prenuptial agreements. Instead of these agreements only being for celebrities or wealthy men, average people and women are using them to protect themselves as well.
• Prenuptial agreements are no longer a topic that is avoided for fear of divorce or abandonment issues. Instead, it is becoming a widely accepted and encouraged conversation that couples include in the pre-wedding process.

How do prenuptial agreements work in Rockville?

A prenuptial agreement, also called a prenup, is a legal document or agreement that couples enter into before they become legally married. These agreements aim to explain and establish certain details and factors that are expected to be followed in the event of a divorce. Some of the details and factors commonly mentioned in a prenuptial agreement include:

• Assets
• Properties
• Businesses
• Property division
• Gifts or inheritances
• Alimony or spousal support
• Debts
• Finances and income
• Promises

Prenuptial agreements do not address child custody or child support. Some people want to add information regarding child support or custody to these agreements, but courts focus on what is in the best interests of the child when making these decisions so it is impossible to address these issues years prior to a separation or even before such children are conceived. Parents can create informal agreements and use other forms of evidence to support their rights regarding child support or custody, but a court will ultimately play a role in determining if the agreement is fair and best for the children.

Who should get a prenuptial agreement?

Some people continue to believe that prenuptial agreements are only for the affluent, rich, or those who have reached celebrity status. However, you can create a prenuptial agreement and tailor it to fit your unique needs, wishes, and expectations. Today, these legal agreements can be for anyone and everyone. You may want to consider getting a prenuptial agreement if you are considering a marriage and:

• You were previously married
• You have children from a previous marriage
• You have a lot of debt or plan to invest or purchase something that could result in debt
• Your partner has a lot of debt
• You have a lot of assets, properties, income, or wealth
• You own a business or properties
• You inherited or will likely inherit a business, gift, property, or anything else

If you are already married and want to create a legal document to protect your assets, properties, or businesses, you may want to consider a postnuptial agreement. This type of agreement is similar to a prenuptial agreement, except it is created and agreed upon between two married spouses.

How to obtain a prenuptial agreement before you get married

These are the three steps to obtaining a prenuptial agreement in Rockville or other parts of Maryland:

1. Hire and speak with a prenuptial agreement lawyer: The first step you should take is to hire and speak with a lawyer with experience helping couples create prenuptial agreements. They can answer any of your questions and concerns and explain how the process works.
2. Sit down with your partner and discuss a prenuptial agreement: Find the time to sit down with your partner and have a conversation about a prenuptial agreement. The idea of this discussion is to be open, honest, and respectful regarding your wishes and expectations.
3. Schedule and attend meetings to obtain a prenuptial agreement: If you and your partner are both on board with creating and signing a prenuptial agreement, you should each schedule and attend meetings with your respective lawyers to take care of this matter before the wedding. Your lawyers will ensure that you both are happy and comfortable with everything mentioned in the prenuptial agreement. They will also help you draft a document that is likely to stand up in court in the event of divorce.

Prenuptial agreements used to be an anxiety-inducing or prohibited topic in relationships. These legal documents are becoming a customary part of the pre-wedding planning checklist. If you are ready to obtain a prenuptial agreement that explains what will happen with your properties, assets, debts, income, and other valuable items, the Rockville prenuptial agreement attorneys at McCabe Russell, PA are here to guide you in the right direction and ensure that everything is correct and will be enforced. Please call our office or submit our contact form to schedule a case review at one of our offices in Fulton, Bethesda, Rockville, or Columbia today. We will gladly answer any of your or your spouse-to-be’s questions and concerns about prenuptial agreements or help you pursue a postnuptial agreement if you are already married.