For Younger Americans, Prenups Are the New Norm

Findings from new Harris Poll say millennials most likely to enter into one
By Gina Carey,  Newser Staff
Posted Oct 1, 2023 5:46 AM CDT
For Younger Americans, Prenups Are the New Norm
Half of American adults are open to the idea of a prenup.   (Getty / Cunaplus_M.Faba)

More Americans are asking to sign the dotted line before putting a ring on it, especially among certain age groups. Axios breaks down the findings from a recent Harris Poll, noting that half of adults in the US were open to prenups, up from 42% in support last year. In practice, one in five couples reported signing them (compared to just 3% in 2010, per Business Insider). Younger Americans were most likely to ask for a prenup, with 47% of millennials and 41% of Gen Zers saying they entered into one.

Axios ties the trend to high divorce rates in the US, noting that 40% of marriages don't have a happy ending. The tendency for couples to get married later in life, when they have more established careers and more assets, also contributes overall to more couples sorting out finances before getting hitched. And long gone is the notion that prenups benefit only men's wealth, says CEO of FutureWallet (and newlywed) Beth Williams, who adds that "women see this as a way to financially protect themselves." Data from the site HelloPrenup showed that 65% of users said prenups also guarded them against their partner's debt.

While it may be the least romantic conversation between engaged couples, talking about prenups should start six months to a year before the wedding. "You want to have absolute transparency on what each party's holdings are at the time of the contract being drafted, as well as what their income is," Laura Paris, an associate lawyer at a family firm in Canada, tells Global News. Financial advisers recommend looking at them as a "financial safety net," according to Insider, with financial expert Suze Orman noting that having everything out in the open can make relationships stronger. (In more optimistic wedding-related news, a college student found a designer wedding dress worth thousands at a Goodwill.)

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