Why Are Prenup Requests Skyrocketing? Here’s the story Behind the Surge.

The number of couples signing prenups has skyrocketed 500% since 2010. Yes, 500%. A 2022 Harris Poll found that 15% of married or engaged couples had signed a prenuptial agreement, up from just 3% in 2010. While 15% may seem like a small number in terms of total marriages, it indicates a significant cultural shift that all couples should be aware of. 

Here’s the story behind the prenuptial surge…

Generational Differences: The Harris Poll found that of people who had signed prenups, 40% were under the age of 34. Younger generations are more likely to have gone through divorce of a parent or older relative, and understand that not all marriages are fairy tales. 

People are also likely to be getting married later. The average age of U.S. marriage in the 1960s was early twenties for both men and women, but that number increased over the decades to age 32 in 2020 (theknot.com). Getting married later means there’s more time to accumulate individual assets that people want to protect through prenups. 

Changing Perceptions: In the recent past, there were a number of myths surrounding prenups, such as “prenups are only for very rich or famous people.” By definition, prenuptial agreements are contracts outlining ownership and division of a couple’s income, assets and debt if the marriage ends. Couples do not need to be billionaires to have assets and financial holdings they want to protect. 

There has also been a persistent myth that a prenup means the couple is not committed to a lifelong marriage, but fortunately that perception is changing. More than 50% of marrying couples eventually divorce, and we are certain that most of that population was fully committed to a lifelong marriage on their wedding day. People signing prenups hope they never need to use them, but they know they are protected in case. 

Financial Realities: Prenups protect people from two directions - they help individuals preserve their premarital assets in case of divorce, and they can help prevent an individual from assuming the burden of their partner’s debts. For example, a prenup could designate that graduate school, a business loan or certain credit card debt are the sole responsibility of one individual, and not to be equally divided if a marriage ends. 

One additional benefit of prenups - they encourage open, honest discussions about finances before a couple’s wedding day. These conversations help couples identify areas of disagreement, and allow them to resolve these differences early on, strengthening the foundation of their future marriage. 

Sidenote, Postnups: Already married and wish you’d signed a prenup? It’s not too late. Postnuptial agreements are contracts that serve the same function as prenuptial agreements, they just have different timing (after marriage vs. before). Postnups are particularly beneficial for couples whose financial, professional, or living situations have changed drastically since they were first married - such as a large inheritance or a successful business venture.

In brief, a prenuptial agreement is a form of protection that even couples of modest means are wise to consider. The recent surge in prenups doesn’t mean that romance is dying, quite the contrary! It means more people are recognizing the value of smart planning, so they can say “I do” with that much more confidence. 

At Artese Zandri, we help people with prenuptial agreements, postnuptial agreements, divorce, and child custody arrangements. Reach out to us at consultation@artesezandri.com for a complimentary consultation.