Before getting married, most Virginia couples hope that their unions will last a lifetime. However, studies show that over half of all marriages end in divorce. As more people are recognizing the reality of divorce, prenuptial agreements are becoming popular among millennials, particularly women.
According to statistics, about a third of people agree that a prenuptial agreement is a good idea, but fewer than 5 percent of married couples actually have one.
One reason that prenups are becoming more popular is that people are getting married later in life. Many individuals focus on their careers before choosing to settle down to start a family, and they want to protect their assets. Common reasons for wanting a prenup include protection of non-marital property and planning in advance for allocation of alimony and division of property in the event of divorce.
Views about prenuptial agreements are also changing. While they were once considered reserved for the wealthy, more individuals are opting to get prenups in case they decide to quit working to raise a family or if one or both spouses have significant student loan debt. More people are recognizing that marriages often do not work out and are planning their futures accordingly.
An attorney may be able to assist clients who wish to create a prenuptial agreement. Legal counsel could also help enforce the terms of a prenuptial agreement or, in some cases, argue that the prenup should be declared void. For example, if a client was asked to sign a prenuptial agreement under duress, a lawyer might argue that the prenup should be declared void and that the divorce should proceed as if it had never been signed.