It’s become a funny joke among reporters or avid readers about millennials killing various trends including fast food, napkins or even diamonds. However, the list continues to grow with divorce being the newest addition.
According to a recent study by University of Maryland professor Philip Cohen, the divorce rate decreased by 18 percent, mostly due to younger women. Cohen stated more newly married women are highly educated, over the age of 25 and do not have children in the household.
The study created a model predicting the future of divorce, and model anticipates the rate will only further drop as younger couples get married later and continue their education. The same cannot be said for aging couples as more divorcees fall between 45 and 65 years old.
Why is this happening?
Besides changing standards for women, Cohen indicated there is a growing perspective of marriage as the achievement of status. He found more couples are waiting until they are financially stable to marry while some lower income couples might not marry at all.
The implication of lower socioeconomic status and marriages may create problems in the future due to the instability of cohabiting relationships. It becomes especially problematic if children are living in a cohabited household.
Until then, it’s important for couples considering marriage to anticipate any hurdles in their future. For example, if one spouse makes a considerable amount more money then the other, they may want to provide a “fair share” instead of an equal amount in a separation.
Luckily, prenuptial and postnuptial agreements do exist and are enforceable in Massachusetts as long as the court deems them fair for both spouses. It’s best to have an open discussion with your spouse about the possibility of a spousal agreement before consulting anyone else.