Though it is often stated that approximately 50 percent of marriages do not last, according to Pew Research, that statistic may no longer be accurate. The divorce rate is purportedly lower than it has been since the 1980s. In spite of the lower divorce rate, if Colorado residents are considering entering into a long-term relationship, they may choose to plan proactively in the event that the marriage or relationship does not last.
One characteristic that seems to set younger couples apart from the previous generations is their pragmatic approach to the subject of divorce. These couples are often educated and successful in their careers, and they tend to view divorce as the most viable option when a relationship is struggling rather than sticking it out over the long term like older generations have tended to do. Their attitude toward a dissolution is also more accepting, and they purportedly view it as an opportunity instead of a negative event.
These couples also reportedly take a practical approach toward prenuptial agreements in that they make a dissolution less complicated as the details concerning the division of assets have been addressed before the need arises. In addition to an accepting view toward divorce and pre-nups, these couples may also be more willing to enter into a cohabitation agreement. While every state has its own laws regarding a common-law marriage, couples may choose to sign cohabitation contracts that work in much the same way as a pre-nuptial in that separate property and ownership rights are established.
According to statistics, only an estimated 26 percent of millennials are getting marriage. Though the overall rate for divorce has shown a decrease, relationships do not always last in spite of the best intentions. Though it may be believed that signing a prenuptial or cohabitation agreement indicates a lack of commitment on the part of a couple, it may actually ease the separation in the event that the marriage or relationship becomes untenable. Colorado residents who are unsure as to whether these types of contracts are applicable to their situation, or those who may be contemplating a divorce, can seek the advice of an experienced family law professional who can provide more information.
Source: dmagazine.com, “The Millennial Divorce“, Nov. 14, 2017