Why are young couples more likely to get prenups?

On Behalf of | Jan 4, 2020 | Family Law |

For decades, there has been a stigma in Virginia against prenuptial agreements. As the next generations start getting married, these stigmas are being shed at a fast rate. Today we will take a look at why younger couples are more likely to get prenups than their parents.

Business Insider takes a look at the rising rate of prenup requests. Studies claim some lawyers saw a 60 percent rise in prenup requests between 2013 and 2016. But young couples are not doing this out of disillusionment. One study speculates that their experience with divorce informs their decisions. For example, up to one-third of all millennials were children of divorce. Many have experienced one parent getting into financial trouble due to asset division.

Many young couples are also waiting longer to get married. The average age of marriage has risen 2 to 3 years since the early 2000s. Not only that, but couples date for an average of around 5 years before tying the knot. This gives young people plenty of time to accumulate assets. Many of them have already seen what a devastating divorce can do to a person. They want to protect themselves financially in the event that they and their spouse split up.

It is not a sign that the younger generations believe less in love. Rather, they are more aware of the fact that marriage is a legal process. They take steps to protect themselves from the potential legal repercussions of divorce. It is smart and preventative rather than pessimistic. Other couples may benefit from considering requesting prenups as well.