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Family law attorneys see increase in prenups

The decision to walk down the aisle is one that must be taken seriously. In reality, couples in New Hampshire must consider that regardless of how they feel at the time of their wedding, their feelings can change over time as they age and go through a variety of life experiences. In fact, a survey of family law professionals indicates that many people -- especially so-called millennials -- are seeking to safeguard themselves financially in the event of a divorce.

In a survey conducted by the American Academy of Matrimonial Lawsuits, over half of the attorneys surveyed claimed they had experienced an increase in the number of people typically termed millennials who sought a prenuptial agreement. Approximately 2 percent claimed to have experienced a decrease. Looking at all ages, 62 percent of attorneys noted an increase.

There a variety of benefits to a prenuptial agreement, including protecting a person's assets as as well as shielding the individual from a spouse's debts. Millennials, in particular, may be seeking such protections more frequently for several reasons. Some family law professionals say that many are children of divorce themselves so want to prepare for such an outcome. Some are waiting longer to marry and are more willing to make sacrifices for their career, resulting in greater assets when they do choose to marry. Additionally, many also have debt, especially student loan debt.

Regardless of the reason, having a prenuptial agreement in place can help couples in New Hampshire divide their assets -- and debt -- more quickly and without some of the animosity experienced by other couples. For many, creating such a document allows the couple to enter into a marriage fully understanding their financial situation and taking into consideration how a parent who gives up his or her career to care for children, for example, will be treated in the event the marriage ends. An attorney with experience with family law can help those planning to marry create an agreement that is both fair and enforceable.

Source: cnbc.com, "Before saying 'I do,' more millennials say 'prenup'", Jessica Dickler, Nov. 25, 2016

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