Harvard Law School takes a look at prenuptial agreements
What is the reason that most people do not have a prenuptial agreement?
A recent publication of an article by an Olin fellow at Harvard Law School explains that about 5 percent of married people have such an agreement, although the facts are that more than 50 percent of marriages end in divorce. This Harvard Law graduate explains what she has discovered.
What inspired you to research the facts about prenuptial agreements?
The facts are that more than half of marriages end and these once-loving couples end up in divorce court, and a microscopic 5 percent have prenuptial agreements in place. Most prospective couples after deliberation decide that if they bring the possibility of a prenup there, it suggests they are planning a divorce, he concluded. She would investigate why couples do not protect themselves with prenuptial agreements.
What is the reason that couples contemplating marriage do not have a prenuptial agreement?
The top two reasons that prevent people from asking their potential partner to sign a prenuptial agreement.
First of all, as stated above, most couples feel that the fatality is suggesting a prenuptial agreement to their potential partner. Rumor has it that when Jennifer Lopez asked Ben Affleck to agree to a prenuptial agreement, Ben Affleck ended the relationship.
The other reason is that most couples believe that even though statistics show that more than half of all marriages end in divorce, it will never happen to them. They believe that their love will overcome any possible obstacles that may occur in their relationship and that their foundation is inflexible and more stable than most people, and divorce will never happen.
Is it true that the courts have declared that prenuptial agreements are not absolutely contrary to promoting the stability of marriage?
The reality is that a prenuptial agreement can create a situation where the marriage will be more difficult to end than easier to end. You can design a prenuptial agreement that states that divorce cannot happen unless a sham has occurred, such as being unfaithful or whatever you decide is important as a couple. And, conversely, most states accept no-fault divorce.
Is it a fact that when prenuptial agreements have additional instruction in addition to the division of assets and specific state provisions when a divorce can occur, they are upheld in court?
To my understanding, this type of prenuptial agreement has not been proven in divorce court. In recent years, every state insisted that a spouse show fault before a divorce could be granted. But there are states that accept an agreement for a “covenant marriage” where one spouse will be required to prove fault before filing for divorce. It is unlikely that any court will limit a couple’s prenuptial agreement because it has requirements for divorce.
Are divorced children more likely to have a prenuptial agreement before getting married?
As surprising as it may sound, the answer is no! As stated above, the reasons why couples do not have a prenuptial agreement are not logical, but emotional. Neither wants to create a situation that predicts doom. There are also other important factors to mention. 1) If one of the partners has wealth, he is likely to insist on a prenuptial agreement. If you are married, it is unlikely that you will request a prenuptial agreement. 3) Women will generally not insist on a prenuptial agreement.
Would you suggest that prenuptial agreements are mandatory?
It is important to understand why a prenuptial agreement is a win-win situation. After looking at the previous research, I would recommend a prenuptial agreement. A mandatory prenuptial agreement would be beneficial for couples. It would eliminate that awkward discussion of bringing the matter up because everyone would have to treat it as a matter of law, even if they feel like they will never get divorced. Also, practice can eliminate unrealistic optimism of what the future may bring. Since everyone who gets married will have a prenuptial agreement, this will create a smoother transition to marriage. If this law were in effect, maybe Jennifer Lopez and Ben Affleck would still be together?