New Data Reveal Misconceptions Around Prenups

New Data Reveal Misconceptions Around Prenups
New survey data by LegalShield reveal misconceptions around prenuptial agreements. (Graphic: Business Wire)

ADA, Okla.--(BUSINESS WIRE)--Sep 22, 2022--

LegalShield, the world's largest platform for legal, identity, and reputation management services, released today the results of a survey about prenuptial agreements. In the midst of one of the most popular wedding years in decades, LegalShield dug deeper into the perception of prenuptial agreements to understand why couples might choose to not get one before saying “I do.” Findings reveal misunderstandings around the purpose, value, and accessibility of prenuptial agreements that LegalShield aims to clarify.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220922005246/en/

New survey data by LegalShield reveal misconceptions around prenuptial agreements. (Graphic: Business Wire)

A majority (62%) of those surveyed were agnostic to or disagreed that having a prenuptial agreement is important to have before getting married. Ashley Rundell, a family law attorney with Fiffik Law Group, PC, a LegalShield provider law firm, disagrees. “During this celebratory time in life, you never want to think of an alternate reality, however, having a prenuptial agreement is essential for every couple to avoid the long, costly and emotionally draining litigation that typically comes when things change.”

Misbeliefs involving time and money were factors keeping those surveyed from getting a prenuptial agreement:

  • 53% of respondents said they don’t feel like they make enough money to have a prenuptial agreement in place.
  • 44% think prenuptial agreements are a time sensitive step to take before marriage.
  • 36% of women have never considered a prenup because they don’t believe their income level is high enough.

Prenuptial agreements can also keep couples from having regret and instead feel empowered. Nearly one in five married individuals and people in civil partnerships wish they would have put a prenup in place. “The most important benefit of getting a prenuptial agreement is it puts the couple in control of what happens to their property in the event of divorce or death. Otherwise, the state laws control, which most couples don’t like,” said Rundell.

These misconceptions can be solved by connecting with the right lawyer and law firm. On average, a prenuptial agreement can cost $1,000 to a few thousand dollars to have drafted by a lawyer. With LegalShield, members can work with their provider lawyer for only $29.95/month. LegalShield law firms have an average of 22 years of experience and with laws differing in each state, members get access to local lawyers that can ensure the prenuptial agreement is clear, understandable and protects the individual and couple in the event of divorce or death.

“LegalShield is dedicated to helping all couples understand that prenuptial agreements help, not hurt, the health of their relationship,” says Keri Norris, Chief Legal Officer of LegalShield. “Further, prenuptial agreements can be simple, quick and affordable to execute for anyone, at any income level with the help of a LegalShield provider lawyer.”

Conducted by YouGov, the survey’s total sample size was 2,372 adults. Fieldwork was undertaken between August 2-4, 2022. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18+).

About LegalShield

A trailblazer in the democratization of affordable access to legal advice, counsel, protection, and representation, LegalShield is the world's largest platform for legal, identity, and reputation management services protecting individuals and businesses across North America. Founded in 1972, LegalShield, and its privacy management company, IDShield, has provided individuals, families, businesses, and employers with tools and services needed to affordably live a just and secure life. Through technology and innovation, LegalShield is disrupting the traditional legal system and transforming how and where people receive legal guidance and services, with access to thousands of qualified, trusted attorneys and law firms. To learn more about LegalShield and IDShield products and services, visit LegalShield.com and IDShield.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220922005246/en/

CONTACT: Hollon Kohtz, Director of Publicity

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KEYWORD: OKLAHOMA UNITED STATES NORTH AMERICA CANADA

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SOURCE: PPLSI

Copyright Business Wire 2022.

PUB: 09/22/2022 07:37 AM/DISC: 09/22/2022 07:37 AM

http://www.businesswire.com/news/home/20220922005246/en

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