Prenuptial agreements have been on the rise for perhaps as long as the past eight years, with more women requesting prenups today than ever before. Prenuptial agreements can serve several important purposes. They can protect the individual property each partner brings into the Union, they can outline topics such as alimony or child support following divorce, and they often cover division of property after a divorce.
Marriage and Divorce Statistics
Let’s start with some staggering statistics about marriage and divorce. According to a study done by the Centers for Disease Control, which does not include California, Hawaii, Georgia, Minnesota, Indiana, or New Mexico:
- There were 827,261 divorces and annulments in 2016. This is a rate of 3.2 divorces per 1000 people, not marriages.
- This is a small increase over 2015, in which there were 800,909 to forces, or 3.1 divorces per 1,000 people, not marriages.
- Although actual divorce rates are hard to find, the American Psychological Association reports that 40 to 50% of all married couples and up divorcing at some point in time.
- Those who remarry after a previous divorce are even more likely to divorce a second time then those marrying for the first time.
- Some of the most expensive divorce settlements in history totaled several billion dollars.
While California doesn’t report their divorce rate to the Centers for Disease Control, some speculate that it may be as high as 60%, significantly higher than the national average. Additionally, the cost of divorce in California – usually when the parties can’t agree on the terms of the divorce – can easily exceed tens of thousands of dollars and in some cases, hundreds of thousands of dollars. Have a prenuptial agreement in place can limit the need for long, drawn-out court battles that empty your pocketbook.
Prenuptial Agreement Statistics
Perhaps even more eye-opening statistics about prenuptial agreements:
- Despite half of all marriages ending in divorce, only 11% of couples state that there’s a chance their marriage could end in divorce and less than 5% have a prenup in place to protect their interests should they divorce
- 15% of divorcees wish they had put a prenup in place before getting married
- If your prenup is drafted correctly (with the help of an experienced attorney), it can override Equitable Distribution State Law and Community Property Law
- Prenups are thrown out when it matters most (during a divorce) all the time because they aren’t drafted to hold up in a court of law; hiring an experienced attorney is critical to ensure your prenup is solid and enforceable
- Prenuptial agreements have some limitations; they can’t determine custody or visitation agreements or stipulate certain parenting rules
- 62% of people think that asking for prenuptial agreement has negative connotations and 63% of people feel that they would be at increased risk of divorce if their potential spouse asked them to sign a prenup
- Prenuptial agreements cost significantly less than a battle over property in court and can save money in the long run
While not a statistic, it’s important to note that many couples choose not to protect their individual property through a prenuptial agreement going into marriage and never realize that a prenuptial agreement is also important in avoiding the burden of any debt your partner incurred prior to your union.
Also keep in mind that if you dropped the ball before marriage, you can still draft an agreement after you got married but before either of you has decided to divorce; in that case, the agreement is a postnuptial or antenuptial agreement. Finally, keep in mind that prenuptial agreements only hold up in court when both parties fully disclose their assets and liabilities; a single hidden liability makes the agreement null and void.
Contact a Carlsbad Prenup Attorney Today
When choosing an attorney to assist you in drafting your prenuptial agreement, you and your potential spouse should each have your own representation and both attorneys should specialize in family law. To learn more about prenuptial agreements or schedule your free, no-obligation consultation appointment (with evening and weekend appointments available), contact the Law Office of Steven L. Fritsch in Carlsbad, California, today. You can reach us toll-free at 888-249-9301 or chat live with a specialist online for your convenience.