This post is the third in a multi-part series on marital agreements. If you haven’t read parts 1 and 2 yet, I recommend you do before continuing.
Do half of all marriages end in divorce? (continued)
Despite the fact that the 50% divorce rate claim has been widely debunked, many marriages do end in divorce.
While a marital agreement might not be the most romantic discussion for a newly engaged couple, it’s important to remember that while marriage is first and foremost about a loving relationship, it’s also about a binding legal and financial contract. In the face of the millions of American divorces over the last few decades, one could argue it is rather naive to enter into marriage without acknowledging the possibility of divorce. From this perspective, it’s easy to see how a premarital or postmarital agreement appeals to anyone with significant assets to protect. Entering into a binding contract with such high financial risk without any kind of protection is, at best, a dubious proposition.
Who needs a marital agreement?
Even though newlyweds need not face the scary 50% divorce rate figure, even conservative estimates indicate around 30% of their marriages will end in divorce. So, out of this 30% of doomed marriages that are happening right now, who needs a prenup?
Check back soon for Prenuptial and postnuptial agreements are on the rise – here’s what you need to know, Part 4. In the meantime, check out our page on premarital and postmarital agreements.
A very well written and sourced article on millennials and marital agreements from the NY Times, which cited sources 1, 2, and 3:
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