Prenuptial agreements are supposed to protect spouse's assets in the event of divorce. While couples getting divorce can try and have the prenuptial agreement voided or thrown out, it doesn't happen very often. However, a recent divorce case shows just how rare it is to have a prenuptial agreement vacated and the ruling may impact future divorce cases.
In recent years, prenuptial agreements have grown increasingly popular among engaged couples in Atlanta and throughout the country, whether or not the soon-to-be-spouses are entering their marriage with significant assets. In fact, in a recent Reuters article, one family law attorney estimated that prenups are now at least 10 times more common than they were just 20 years earlier.
In our previous post, we began discussing the difficulty cohabiting couples have in the event of separation, not only emotionally and socially, but also financially.
The common assumption about cohabiting is that it is a convenient way of testing-driving a relationship prior to marriage or a way to avoid legal entanglements in case the relationship fails. But increasingly, these assumptions are proving to be untrue.
"Falling in love is romantic, but paying the bills is pragmatic," says American Academy of Matrimonial Lawyers ("AAML") President Marlene Eskind Moses in citing the commonsense and growing allure that prenuptial agreements have for individuals and couples seeking to protect retirement income.