For Many Boomers, Prenuptial Agreements Move into the Mainstream By Douglas Borthwick Signing a prenuptial agreement is no longer limited to the rich and famous, most matrimonial lawyers report. Even before the current economic slowdown, 80 percent of lawyers were reporting an increase in the trend. As the economy continues to show signs of uncertainty, prenuptial agreements no longer carry the stigma they once did, especially among the Baby Boom generation, according to a report in The Wall Street Journal. The trend among Boomers to opt for prenuptial agreements stems from a number of factors, the report noted. First, Boomers are more likely to marry more than once in their lifetime. Multiple marriages, along with the division of property and assets associated with divorce, present complications not seen by previous generations. Second, Boomers are moving into retirement, which places added emphasis on longer-term financial security. In addition, some states, such as California, regard marital assets as communal property, which typically calls for a 50-50 split of assets at divorce in the absence of a prenuptial agreement. As a result of these and other societal trends, many couples now regard prenuptial agreements as a way of ensuring marital harmony, rather than a threat to their future relationship. About Douglas Borthwick: A partner with the law firm of Freeman and Borthwick, attorney Douglas Borthwick provides clients with legal services focusing on personal injury, estate planning, and family law. This site is designed for general information only. The information presented should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.
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