A growing number of couples realize the value of prenuptial agreements, which are rapidly losing the stigma they once had. Nearly two-thirds of divorce attorneys say demand is growing for these agreements, according to a recent survey conducted by the American Academy of Matrimonial Lawyers. Much of the increase is being driven by millennials, who are getting married later and have different attitudes towards money and marriage.
Younger people are more likely to keep separate bank accounts and a joint account only for shared expenses. With both partners working and focusing on careers, they seem more interested in having a “what’s mine is mine” attitude. They are both eager to put in writing what they think is fair in the event of a divorce.
If couples get married without a prenuptial agreement, they are not doomed to protracted legal battles if they divorce. They can opt for what’s called a post-nuptial agreement, which lawyers can draft after marriage.
These documents may spark difficult discussions, but they can also increase the odds that couples will live happily ever after—even if they do eventually part ways.
Maria Remillard is is a partner with the Massachusetts law firm Bowditch & Dewey. She is a trial and appellate lawyer focusing on probate and domestic relations cases as well as all aspects of civil appeals of Massachusetts.