Prenups on the Rise
A recent survey shows that more couples are opting to secure prenuptial agreements; 63% of matrimonial lawyers surveyed reported an increase in the number of prenups over the last three years. Whether this is a result of people getting married older, having more wealth going into a marriage, or general concern for the protection of assets, a common trend among growing prenups is the desire to protect real estate. This is evident in the survey results, which show that the most common coverage areas within prenuptial agreements are:
- Protection of separate property
- Alimony/ spousal maintenance
- Division of property
- Protection of the increase of value in separate property
- Inheritance rights
- Community property division
Having a prenuptial agreement essentially allows for decision-making about the ownership of property and other assets; otherwise, state law ultimately dictates what happens in the event of a divorce. Though still relatively rare, the numbers do reflect that the number of couples opting for prenuptial agreements is on the rise, especially pertaining to property.
If you have concerns about prenuptial agreements, or any other marital or real estate-related questions, please feel free to contact Hogan Willig at 716-636-7600.