Answer: Prenups
Clues: “Agreement” and “Marriage”
Almost 1-in-5 Wisconsin couples (17%) have a formal prenup in place. 32% of unmarried people believe prenups are a ‘recipe for disaster’ within a marriage.
Warren Buffett once described marriage as the most critical financial decision in a person’s life, underscoring its numerous economic advantages. However, when marriages fail, they often result in complex and financially burdensome divorces, referred to as “divorce debt.”
TurboDebt recently surveyed 3,000 married couples to determine the rate of prenups across the country. They found that, on average, almost 1-in-5 married Wisconsin couples have a formal prenup in place (above the national average of 13%).
When asked why they opted for a prenup, 45% said it was to avoid potential divorce drama. Another 35% wanted to protect their personal savings, while 19% just wanted to lay out clear financial ground rules.
Initial discussions about a prenup before their wedding caused conflict for 35% of couples surveyed. Additionally, 42% of married couples without a prenup regretted not getting one.
TurboDebt: A Top Rated Debt Relief Program | TurboDebt also explored the perceptions of single individuals and unmarried couples regarding prenups. 32% believed that having a prenup is a ‘recipe for disaster; within a marriage.
When asked how they would react if their future spouse introduced a prenup right before the wedding, 47% of unmarried couples said they would accept it but start negotiating immediately. Meanwhile, 29% said they would sign it blindly, believing that love conquers all, and 23% indicated they would call off the wedding.