Declining Divorce RatesOver the past week, I’ve read that divorce rates have declined over the past decade. One article I read breaks down this trend at a scholarly level while another is more direct: millennials are prioritizing rising cost of housing, paying off student loan debt, and advancing their careers over marriage.
That means, that instead of marrying in their early 20s, millennials are delaying marriage until their late 20s and early 30s; and when they marry, remain married. To some delaying the prospect of marriage and starting a family equates to a greater focus on developing and growing their career, income, and assets.
Are you this person? Have you worked tirelessly for the past 5-10 years to grow your network, business, and income? Have you accumulated a retirement plan, earned pension credits, or individually purchased a home? Now, are wedding bells in the future?
If so, and you want to protect the assets you’ve amassed and more, you want to strongly consider a prenuptial agreement. Even though divorce rates are declining, couples still file for divorce everyday. In the event that your marriage does not last, you can protect your years of hard work (and even future work) with a prenuptial agreement.
If you’re preparing for an engagement or you and your soon-to-be-spouse have settled on a date, contact our family law attorney at 602-258-1000 to discuss how you can protect your premarital assets in the event of a divorce.