This post is the second in a multi-part series on marital agreements. If you haven’t read part 1 yet, I recommend you do before continuing.
Prenuptial agreements on the rise among millennials (continued)
The affect of more women earning at least as much as their male partners is twofold. First, women have more assets to protect in the event of divorce. Second, discussions regarding marital agreements carry more common interest today than they did in the past, which means they can more frequently and easily be entered into openly and willingly by both parties.
Lastly, there is a likely, practical reason why more millennials are asking about marital agreements than previous generations. 38% of millennials grew up in a single parent household, two thirds of which were the result of divorce. (3)
Do half of all marriages end in divorce?
The claim that 50% of American marriages end in divorce has been repeated so many times that people often don’t question it. But is it true? The short answer is no. However, when you try to find out what the actual rate is, the question gets a bit more complicated.
The original assertion likely came from a report issued alongside the 1980 census. In the 70s and 80s, divorce rated were peaking in the US – around 41%. Statisticians predicted that if this trend continued, it wouldn’t be long before half of all marriages ended in divorce. However, that’s not how things panned out. For a number of reasons like people marrying later in life, premarital cohabitation, birth control, shifting gender roles, and the rise in what are known as “love marriages”, the divorce rate has been slowly but steadily decreasing ever since that peak in the early 80s. Around 65% of people who got married in the 70s and 80s were still together to celebrate their 15th anniversary, while 70% of those married in the 90s stayed together that long. (4)
Check back soon for Prenuptial and postnuptial agreements are on the rise – here’s what you need to know, Part 3. In the meantime, check out our page on premarital and postmarital agreements.
3 – http://www.pewresearch.org/fact-tank/2010/03/22/missing-mom-or-dad/
4 – https://www.cdc.gov/nchs/data/nhsr/nhsr049.pdf