Before saying “I do,” today’s couples are signing prenuptial agreements… to stipulate what’ll happen to their PETS should they ever divorce. They’re being called “pet-nups”… and they’re becoming more common because CUSTODY disputes are becoming more common in divorce proceedings.
According to the American Academy of Matrimonial Lawyers, there’s been a 22% increase in pet custody hearings in the last 5 years. And a survey by a pet insurance company found that a quarter of divorces in the past year involved a pet custody dispute. And even if a couple ISN’T getting married, but live together with fur-babies they adopted together, they’re signing pet-nups in case of a breakup. And it can be a smart FINANCIAL move.
A survey of over 100 divorce lawyers found that, in cases involving pets, lawyers spend an average of 25 billable hours on that issue alone. The rise in pet-nups is also because Millennials are less likely to be homeowners, car owners or have children than Baby Boomers – but they’re MORE likely to be pet owners. And that’s contributing to a rise in pet-nups.