LegalZoom Encourages Couples to Consider Prenuptial Agreements as a Financial Planning Solution
LegalZoom, a leading online legal technology company, is encouraging couples to consider prenuptial agreements as part of their wedding preparations. Recent data shows over 40% of Gen Z and Millennial couples are opting for prenups. LegalZoom's law firm, LZ Legal Services, provides prenup services in 10 states, with plans to expand to Colorado and Ohio.
Key findings include:
- Men initiate 65% of LZLS prenup orders
- California leads with 51% of LZLS prenup customers
- Average time from prenup order to wedding is 69 days
- Top items in prenups: protection of separate property, alimony, and property division
LZ Legal Services offers attorney-assisted prenups for a flat fee of $1,499, potentially saving couples money compared to traditional divorce costs.
LegalZoom, una delle principali aziende di tecnologia legale online, sta incoraggiando le coppie a considerare accordi prematrimoniali come parte dei preparativi per il matrimonio. Dati recenti mostrano che oltre il 40% delle coppie della Gen Z e dei Millennial stanno optando per i prenup. Lo studio legale di LegalZoom, LZ Legal Services, offre servizi di prenup in 10 stati, con piani di espansione in Colorado e Ohio.
I risultati chiave includono:
- Gli uomini avviano il 65% degli ordini di prenup di LZLS
- La California guida con il 51% dei clienti di prenup di LZLS
- Il tempo medio dall'ordine di prenup al matrimonio è di 69 giorni
- Gli elementi principali nei prenup: protezione dei beni separati, mantenimento e divisione dei beni
LZ Legal Services offre prenup assistiti da avvocati per una tariffa fissa di $1,499, risparmiando potenzialmente denaro alle coppie rispetto ai costi tradizionali del divorzio.
LegalZoom, una de las principales empresas de tecnología legal en línea, está alentando a las parejas a considerar los acuerdos prenupciales como parte de sus preparativos para la boda. Datos recientes muestran que más del 40% de las parejas de la Generación Z y los Millennials están optando por prenups. La firma de abogados de LegalZoom, LZ Legal Services, ofrece servicios de prenup en 10 estados, con planes de expansión a Colorado y Ohio.
Las conclusiones clave incluyen:
- Los hombres inician el 65% de las órdenes de prenup de LZLS
- California lidera con el 51% de los clientes de prenup de LZLS
- El tiempo promedio desde el pedido de prenup hasta la boda es de 69 días
- Los elementos principales en los prenups: protección de bienes separados, pensión alimenticia y división de bienes
LZ Legal Services ofrece prenups asistidos por abogados por una tarifa fija de $1,499, lo que puede hacer que las parejas ahorren dinero en comparación con los costos tradicionales de divorcio.
LegalZoom은 온라인 법률 기술의 선도 기업으로서, 커플들이 결혼 준비의 일환으로 혼전 계약서를 고려할 것을 장려하고 있습니다. 최근 데이터에 따르면 Z세대와 밀레니얼 세대 커플의 40% 이상이 혼전 계약서를 선택하고 있습니다. LegalZoom의 법률 회사인 LZ Legal Services는 10개 주에서 혼전 계약 서비스를 제공하며, 콜로라도와 오하이오로의 확장을 계획 중입니다.
주요 발견 사항은 다음과 같습니다:
- 남성이 LZLS의 혼전 계약 주문의 65%를 주도합니다.
- 캘리포니아가 LZLS의 혼전 계약 고객의 51%로 선두입니다.
- 혼전 계약 주문에서 결혼까지의 평균 시간은 69일입니다.
- 혼전 계약서의 주요 항목: 별도 자산 보호, 위자료 및 자산 분배
LZ Legal Services는 변호사 지원을 받는 혼전 계약을 고정 요금 $1,499에 제공하여, 전통적인 이혼 비용에 비해 커플이 돈을 절약할 수 있습니다.
LegalZoom, une entreprise leader en technologie juridique en ligne, encourage les couples à envisager des accords prénuptiaux dans le cadre de leurs préparatifs de mariage. Les données récentes montrent que plus de 40 % des couples de la génération Z et des Millennials optent pour des prénups. Le cabinet d'avocats de LegalZoom, LZ Legal Services, propose des services de prénuptial dans 10 États, et prévoit de s'étendre au Colorado et à l'Ohio.
Les résultats clés comprennent :
- Les hommes initient 65 % des commandes de prénup de LZLS
- La Californie est en tête avec 51 % des clients de prénup de LZLS
- Le délai moyen entre la commande de prénup et le mariage est de 69 jours
- Les principaux éléments des prénups : protection des biens propres, pension alimentaire et division des biens
LZ Legal Services propose des prénups assistés par un avocat pour un tarif forfaitaire de 1 499 $, permettant aux couples d'économiser potentiellement de l'argent par rapport aux coûts traditionnels de divorce.
LegalZoom, ein führendes Unternehmen für Online-Rechtstechnologie, ermutigt Paare, ehevertragliche Vereinbarungen im Rahmen ihrer Hochzeitsvorbereitungen in Betracht zu ziehen. Neueste Daten zeigen, dass über 40% der Gen Z und Millennial-Paare sich für Eheverträge entscheiden. LegalZooms Anwaltskanzlei, LZ Legal Services, bietet Ehevertrag-Services in 10 Bundesstaaten an und plant eine Expansion nach Colorado und Ohio.
Wichtige Erkenntnisse sind:
- Männer initiieren 65% der Ehevertragsbestellungen von LZLS
- Kalifornien führt mit 51% der LZLS-Ehevertragskunden
- Die durchschnittliche Zeit von der Bestellung des Ehevertrags bis zur Hochzeit beträgt 69 Tage
- Die wichtigsten Punkte in Eheverträgen: Schutz des eigenen Eigentums, Unterhalt und Vermögensaufteilung
LZ Legal Services bietet anwaltlich unterstützte Eheverträge zu einem Pauschalpreis von 1.499 $ an, was Paare im Vergleich zu den traditionellen Scheidungskosten Geld sparen könnte.
- Expansion of LZ Legal Services to new states (Colorado and Ohio)
- Increasing demand for prenuptial agreement services
- Cost-effective solution: $1,499 flat fee for attorney-assisted prenups compared to $2,500 average offline cost
- Growing market: Over 40% of Gen Z and Millennial couples opting for prenups
- None.
Insights
The growing demand for prenuptial agreements among younger generations represents a significant market opportunity for LegalZoom. With over
LZ Legal Services' expansion to new states like Colorado and Ohio indicates market growth and increased accessibility. The
The company's focus on user-friendly platforms and cost-effective solutions aligns well with the preferences of younger, tech-savvy generations. This could lead to increased customer acquisition and retention, potentially driving long-term growth for LegalZoom in the legal tech space.
The data presented in this article reveals interesting market trends that could impact LegalZoom's business strategy. The
Gender dynamics in prenup initiation are noteworthy, with men initiating
The average 69-day timeline from order to wedding date provides valuable insight for service delivery optimization. By understanding customer behavior and preferences, LegalZoom can tailor its offerings and marketing efforts to better serve this growing market segment, potentially leading to increased revenue and market penetration.
LZ Legal Services Expands Offerings as Customer Demand Increases
Men Lead in Initiating Prenups Among LegalZoom Legal Services Customers
MOUNTAIN VIEW, Calif., Sept. 26, 2024 (GLOBE NEWSWIRE) -- As couples look toward the Fall and Spring wedding seasons, LegalZoom, one of the nation's leading online legal technology companies, is encouraging couples to consider prenuptial agreements as part of their wedding preparations. Recent data shows a significant increase in prenup adoption among younger generations, with over 40 percent of engaged or previously married Gen Z and Millennial couples opting for these agreements.
Prenuptial agreements are intended to be a financial planning tool that can serve both parties, during and after the marriage. They outline financial expectations, can protect one or both parties from individual debts, and help divide property fairly in the event of death. In the unfortunate case of a divorce, a prenup can include defined spousal support. These are just a few protections that can be included in a prenup developed leading up to a couple’s wedding, and there continues to be a steady increase in couples opting for prenups.
LegalZoom provides prenuptial agreement services through its law firm, LZ Legal Services, available to 50 percent of the American population, which resides in California, Arizona, Texas, Florida, Pennsylvania, New York, North Carolina, South Carolina, Virginia, and Tennessee. As customer demand has increased for this legal service, LZ Legal Services will soon be expanding prenuptial agreement services to Colorado and Ohio, as well as other states by the end of the year.
"We're seeing a shift in how younger generations approach marriage and finances," said Nicole Miller, Chief Legal Officer of LegalZoom and Executive Manager of LegalZoom’s law firm, LZ Legal Services. "Prenups are no longer just for the wealthy. They're becoming a smart financial planning tool for couples of all backgrounds."
Key findings from recent research looking at external trends:
- Over
40% of Gen Z and Millennial couples reported signing a prenup, compared to only15% of the overall population. - There has been a general increase in U.S. adults being open to having prenuptial agreements with a Harris Poll showing a
19% increase in just one year of adults who supported the use of prenups. - Infidelity is one of the leading causes of divorce in American couples, with some surveys indicating that more than
55% of separations are at least partially related to cheating. It's no surprise that infidelity clauses continue to be a popular part of prenuptial agreements.
Based on LZ Legal Services (LZLS) customer insights:
- Men initiate the majority of LZLS prenup orders (
65% of total prenups), but the percentage of women initiating is growing. Public data shows that with the unfortunate pay gap of women making18% less than their male coworkers, a prenup helps take into account that the husband may have a higher take-home pay than his ex-wife while other things remain equal. - California leads the pack by a large margin, with
51% of LZ Legal Services prenup customers hailing from the Golden State. This is followed by Florida at13% , Texas at11% , and New York at7% . - The average time from the order of a prenup to the wedding date is about 69 days. The recommended timeline is two months to start the planning process, based on LZLS’s customer experiences; however, it is possible to initiate a prenup with sooner or flexible wedding dates.
- The top three items couples included in their marriage contracts are protection of separate property, alimony/spousal maintenance, and division of property. While prenuptial agreements cannot predetermine child support or parenting rights, they can include what happens to family pets in the event of a divorce.
LZ Legal Services’s user-friendly platform allows couples to work with experienced local co-counsel attorneys to create customized prenups that outline financial expectations, protect against individual debts, and pre-negotiate spousal support. "At LegalZoom and LZ Legal Services, we believe in empowering couples to have open conversations about their financial future," added Miller. "Our goal is to make the process of creating a prenup as smooth and stress-free as possible, allowing couples to start their marriage on a foundation of trust and understanding."
With the average cost of a divorce reaching approximately
"The benefit of a prenuptial agreement is the potential to save time and costs associated with divorce proceedings, which further reduces the amount of stress on the couple,” said Jonathan Fang, one of the experienced prenup attorneys who provides services as a co-counsel for LZ Legal Services. “By resolving what are typically the more contested issues in a divorce first in a prenuptial agreement, then in the unfortunate event of a divorce, couples can focus on healing themselves rather than spending all their energy and resources on fighting over legal issues."
For more information about LegalZoom's prenuptial agreement services, visit www.legalzoom.com.
About LegalZoom
LegalZoom is a leading online platform for business formation in the United States, or U.S. Our unique position at business inception allows us to become a trusted business advisor, supporting the evolving needs of a new business throughout its lifecycle, and we have expanded our platform to include professional expertise and other products, both legal and non-legal, to better meet the needs of small businesses. Driven by a mission to unleash entrepreneurship, we deliver comprehensive legal, tax, accounting and compliance products and expertise to millions of small business owners and their families through easy-to-use technology. We operate across all 50 states and in over 3,000 counties in the U.S., with over two decades of experience in simplifying the legal and compliance process for our customers and empowering entrepreneurs with services that help to make their dream a reality. For more information, please visit www.legalzoom.com.
About LZ Legal Services
LZ Legal Services is a subsidiary of LegalZoom.com, Inc. and was authorized and licensed by the Arizona Supreme Court as an Alternative Business Structure in 2021. LZ Legal Services is redefining and revolutionizing the legal industry by leveraging technological innovation and customer-driven solutions to increase access to quality legal advice. LZ Legal Services also co-counsels with experienced and vetted local law firms to provide legal services in states outside of Arizona.
Forward-Looking Statements
This press release contains forward-looking statements. LegalZoom intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “targets,” “projects,” “contemplates,” “believes,” “estimates,” “forecasts,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to, statements concerning the expansion of LegalZoom’s prenuptial agreement product offering.
Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond LegalZoom’s control. Actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, risks detailed in the section entitled “Risk Factors” and elsewhere in LegalZoom’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, filed with the Securities and Exchange Commission (the “SEC”) on August 7, 2024 as well as those in its subsequent filings with the SEC. These forward-looking statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. LegalZoom qualifies all of its forward-looking statements by these cautionary statements. Except as required by applicable law, LegalZoom does not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.
FAQ
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