Lets face it, no one likes the idea of starting off a marriage by presenting the other spouse with a premarital agreement. It should be a time of celebration, with hopes and dreams of starting a wonderful life together. However, if you do not consider exercising this option you can be costing yourself more than heartache if the marriage ends. The CDC reports that there are 3.6 divorces per 1,000 people in the U.S.. Yes, it common to here that 50% of all marriages end in divorce, but that figure is not entirely accurate due to the decline rate of marriage. Regardless, the number of couples calling it quits is still staggering.
People are scared to talk about premarital agreements because of the negative connotations that are associated with them. However, if it is presented in the right way, both parties have much to gain. When presenting premarital agreements make sure to stress to the other party that this does not change how you feel about them, nor your future with them. This should be a collaborative effort where both sides feel they have reduced uncertainty and created security. We all want to protect ourselves financially, but so many couples fail to do the one thing that could ultimately save them thousands of dollars in the future.
Currently, couples that are opting for premarital agreements have been increasing over the years. Couples have the chance to divide assets or debts ahead of time to avoid costly litigation in the future. Further, there are safeguards in place by the courts to prevent unfair provisions. Do not make the mistake if you are a younger couple with little or no assets to think these agreements do not apply to you because one day you will. Plan for the future now by contacting a family attorney with experience in drafting premarital agreements.
The divorce rate in America for first marriage, vs second or third marriage
50% percent of first marriages, 67% of second and 74% of third marriages end in divorce, according to Jennifer Baker of the Forest Institute of Professional Psychology in Springfield, Missouri.
According to enrichment journal on the divorce rate in America:
- The divorce rate in America for first marriage is 41%
- The divorce rate in America for second marriage is 60%
- The divorce rate in America for third marriage is 73%
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