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Naperville family law attorneysFor many years, prenuptial agreements were largely considered to be necessary only for the super-rich. Today, however, more and more couples are considering using agreements like these. In fact, according to a survey conducted by the American Academy of Matrimonial Lawyers, more than half of family lawyers who responded said that they had seen an increase in requests for prenuptial agreements from the generation known as “millennials” (roughly aged 18-34).

There are a number of reasons why millennials might see fit to use prenuptial agreements, including the fact that they are getting married for the first time at a higher average age compared to previous generations. This means that they generally have more time to accumulate assets, debts, and other obligations before getting married.

If you are soon to be married and you are considering a prenuptial agreement, there are five good reasons why such an agreement might be a good option:

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Naperville family law attorneysIf you and your significant other are considering tying the knot, you may have thought about signing a prenuptial agreement, or “prenup.” A prenup is a legal contract that lists each party’s property and debts and identifies what each party's property rights will be if the marriage ends. Prenuptial agreements, also called premarital agreements, have unfortunately gotten a bad reputation due to television and outrageous celebrity weddings. Prenuptial agreements can offer a wide range of protections for spouses and can help a couple better prepare for a happy and successful marriage.

Myth 1: Signing a Prenuptial Agreement Means You Plan to Divorce

Perhaps the biggest reason many couples do not consider signing a prenuptial agreement before getting married is because the document is so closely associated with divorce. While it is true that a prenuptial agreement can be extremely beneficial in the event of divorce, signing a prenuptial agreement in no way means that a couple plans to divorce. Just as buying car insurance does not mean a person plans to get in a wreck, drafting a prenuptial agreement does not mean a couple plans to split up.

Myth 2: Prenuptial Agreements Are Only for the Rich

Traditionally, prenups were used by wealthy individuals who married someone with fewer assets. Today, however, there are many reasons a couple may use a prenuptial agreement. Prenups can be beneficial in keeping property from a previous marriage separate from marital property and clearly defining each spouses’ financial rights and responsibilities. Drafting a prenup can also give couples a valuable head start for future estate planning.

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Naperville Prenup Lawyer

A prenuptial agreement is a legal contract created before the beginning of a marriage or civil union. The document commonly outlines what should happen with any income, assets, or other financial responsibilities should the relationship end in divorce but can include anything either party deems pertinent. 

While these arrangements are largely made famous by celebrities and other high-asset individuals, prenups are not limited to this income bracket. With the right legal guidance from a qualified attorney, couples from all financial backgrounds can benefit from prenuptial agreements.

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