Prenups on the Rise

While once considered the domain of the famous and uber-wealthy, prenuptial agreements are on the rise amongst ordinary people as well.

According to a 2010 survey conducted by the American Academy of Matrimonial Lawyers, three-quarters of attorneys interviewed had experienced an increase in prenuptial agreements created by their clients. Although there is no exact reason why, many argued that the poor state of the economy prompted many to seek a prenup to protect their assets, no matter how meager. Since it is a well-known fact that over half of American marriages end up in divorce, more and more couples are opting for prenups should a divorce happen to them.

Should you decide against a prenuptial agreement and you seek a divorce, you will soon find that state laws can be unforgiving. In most states property is divided up into two categories: separate and marital. Anything that is labeled as marital will be split equitably, while separate property is allotted to the appropriate spouse.

Planning to draft a prenuptial agreement?  If so, take the time to get help from a family lawyer!