More Women Setting Up Prenuptial Agreements
BOSTON (CBS) -- When you think of a prenuptial agreement, an older man protecting his assets from a trophy wife might come to mind. That profile is changing with the times, however.
Britney Spears is glad she had a prenuptial agreement. It saved her millions of dollars.
Nicole Kidman is another celebrity who wouldn't get married without this legal document to protect her assets.
Forget something borrowed and something blue, more women want legal protection before they'll walk down the aisle.
Judy Wayne, an attorney on the North Shore, is seeing her business change, particularly as people are marrying later in life.
"More and more women are initiating the prenups. Many are wealthy in their own right, having acquired it in their businesses or professions, and they want to insure that the property is not subject to a division in the event of a divorce," she explained.
This trend doesn't surprise Christine Perkins, the owner of the Pyara Salon. She is glad she had prenuptial agreements after two marriages didn't work out.
"You want to make sure when you leave it that you are at least similar to where started off, not worse off," she said.
Divorce is very costly. Wayne added, "My favorite adage is while love is grand, divorce is a thousand grand."
Many women don't want to be burdened by bad investments or old obligations. Wayne says, "A prenup is a great way to basically dissolve the other party of any liability of a student loan for instance or a prior bad debt."
Another priority is protecting assets for children and grandchildren, often from a previous marriage.
Wayne says the assets of greatest interest are real estate, pensions, 401Ks, and businesses.
Some women understand the motives for a prenup, but still don't like them. Several women at salons around Boston said they wouldn't consider them.
A national poll of attorneys who specialize in family found that more of them are seeing an increasing number of women interested in prenuptial agreements
Wayne cautions anyone from trying a do-it-yourself kit. She says they might not adequately address the specifics of Massachusetts law.
