Connecticut Divorce Lawyer
posted in Prenuptial Agreements
on Wednesday, April 4, 2012.
According to the Pew Research Center, about 51 percent of adults are getting married. This is a record low, and some believe that it is tied to the alleged likelihood of divorce. While a prenuptial agreement can determine how the division of property goes, it can also address support issues and custody arrangements. These are all reasons that a prenuptial agreement is created. But with so many adults choosing not to marry, how does an unmarried couple protect against these things?
If you are a couple in Stamford, Connecticut, and you have chosen not to marry, it may be in your best interest to look into the option of a cohabitation agreement.
Reports show that unmarried couples are looking to attorneys to assist them with the creation of a cohabitation agreement. These agreements are similar to prenups, and, in nearly identical ways, they allow for child custody issues to be discussed, assets to be protected and support to be determined. According to the president of the American Academy of Matrimonial Lawyers, the number of cohabitation agreements is definitely on the rise.
He believes that, even though many adults are choosing not to marry, they realize that their value is going up as they age and it still needs to be protected in case of a break up. A survey conducted by the AAML in 2011 found that 39 percent of divorce lawyers saw, over the past five years, an increase in the number of cohabitation agreements made between live-in couples. According to those surveyed, 70 percent said the majority of agreements they created were for heterosexual couples.
Imagine a couple that lives together, has purchased a home together and is raising children. If that relationship ends, what happens to the assets and the kids? Many states do not have laws that concern cohabitation, so litigation can last for years. By creating this agreement, the process can be streamlined so many of the issues can already be settled.
Source: CNN Money, “Prenups aren’t just for married couples anymore,” Jessica Dickler, Mar. 20, 2012