The Evolution of THE Prenup: SINGLE WOMEN AND Asset Protection

For 10 weeks in the summer of 2005, problematic rapper and hitmaker Kanye West’s song “Golddigger” topped all of the music charts. The catchy tune had the menfolk of the world shouting, “We want prenup! We want prenup!” despite having no gold to dig through or pillage. In fact, the same men who would chant, “I ain’t saying she a golddigger,” while sipping Incredible Hulks and apple martinis, were the same folks arriving before 11 p.m. to avoid admission fees. In the nearly 20 years since the song topped the charts, Kanye West would experience marriage and divorce (to a “white guuuuurrrrrrrrrl”) who would flip the script and be the higher earner in the relationship. Was this song a self-fulfilling prophecy for Mr. West? Not exactly, but it was the beginning of casually bringing financial power and prenups into the conversation.

Prenuptial agreements, once seen as tools primarily for wealthy men to safeguard their assets, are being reimagined by a new generation of financially savvy women. Increasingly, women are taking control of their financial futures, and prenuptial agreements have become a powerful tool for ensuring that their hard-earned assets are protected. This shift reflects not only changes in the dynamics of relationships and marriages but also a broader movement towards women's empowerment and financial independence.

Traditionally, prenups were often associated with situations where older, wealthy men sought to protect their wealth from younger spouses. However, these outdated stereotypes are giving way to a new reality. Women are stepping up as equal players in the economic sphere, and they are bringing their own assets, businesses, and financial ambitions into their relationships. This newfound financial independence has sparked a cultural shift, making prenuptial agreements not just acceptable but a smart, proactive choice for women who want to protect their financial interests.

The statistics tell a compelling story. By 2030, women are projected to control over $80 trillion in global assets, a testament to their growing economic power. In the United States, women currently control 32% of the wealth, a figure that is rapidly increasing as more women rise to leadership roles, launch successful businesses, and amass significant personal wealth. This shift is a result of higher educational attainment, increased workforce participation, and a growing number of women choosing to invest in their own financial futures.

By 2030, women are projected to control over $80 trillion in global assets.

The changing landscape of marriage also plays a significant role in this trend. The marriage rate in the United States has been declining, dropping from 8.2 per 1,000 people in 2000 to 6.1 per 1,000 in 2019, according to the U.S. Census Bureau. This decline is even more pronounced among younger generations, with many Millennials and Gen Z individuals choosing to remain single or delay marriage. Pew Research Center estimates that around 40% of Millennial and Gen Z women may remain single or unwed, a significant shift from previous generations. As marriage becomes less of a priority, the emphasis on protecting one’s assets grows, making prenuptial agreements an essential tool for many women.

Data from the American Academy of Matrimonial Lawyers (AAML) underscores this shift in attitude. A 2016 survey revealed that 63% of divorce attorneys reported an increase in requests for prenuptial agreements, with a notable rise in women initiating these discussions. Moreover, 54% of attorneys observed an increase in mothers paying child support, and 45% noted more women being responsible for alimony. These trends reflect the changing dynamics of relationships, where women are not only earning more but are also taking on greater financial responsibilities.

Prenuptial agreements empower women to take control of their financial futures. A 2022 Harris Poll found that 15% of married or engaged people in the United States have signed a prenuptial agreement, up from just 3% in 2010. Younger generations are leading this trend, with 41% of Gen Z and 47% of Millennials who are engaged or married having a prenup. These numbers demonstrate a growing recognition among young women that financial planning and asset protection are crucial components of a strong, balanced partnership.

41% of Gen Z and 47% of Millennials who are engaged or married having a prenup.

Beyond personal wealth, the rise of women entrepreneurs adds another dimension to the importance of prenuptial agreements. Women now own 42% of all businesses in the United States, according to the National Association of Women Business Owners (NAWBO). For women who have poured time, energy, and resources into building successful businesses, a prenup is not just about protecting assets; it’s about safeguarding their dreams and ensuring that their businesses can continue to thrive, regardless of changes in their personal lives.

As women continue to break barriers and achieve new heights in their careers, prenuptial agreements provide a means to protect their financial independence and ensure their long-term security. This shift is not just about legal contracts; it’s about empowering women to make informed choices, to value their contributions, and to take ownership of their financial futures.

The growing acceptance of prenuptial agreements among women is a powerful statement of empowerment and foresight. It reflects a broader societal shift towards gender equality, where women are not only recognized as equal partners in marriage but also as individuals with their own financial identities and goals. By embracing prenuptial agreements, women are taking charge of their destinies, ensuring that their wealth, achievements, and ambitions are protected. This approach is a testament to women harnessing their economic power, strength, wisdom, and independence.