Each generation has its own take on the ritual of marriage. Recently, the millennial generation has been making waves with its embrace of a once-taboo marital practice – the prenuptial agreement.
The prenuptial agreement or “prenup” is essentially a contract that delineates how marital assets will be distributed in the event of divorce. It was always popular amongst the monied classes but was seen as an indecorous violation of the sacred marital union by regular people.
Clearly, younger people see things differently, here are a few reasons why:
They’re getting married later
It’s no secret, millennials are waiting longer to get married. They’re going to graduate school, starting careers, and building wealth – pursuits that are causing them to put off marriage.
Of course, getting married at a later age means entering marriage with more assets. The prenup is an effective way to ensure these assets are protected.
They see marriage practically
The sacred aura of marriage has waned in recent years. Millennials tend to see marriage as a practical decision in the same vein as choosing a college or career. We have back up plans elsewhere in life, so why not in marriage?
They’re children of divorce
Millennials were raised by baby boomers, a generation with an astonishingly high divorce rate. They know how messy divorce can be. A prenup is an efficient to facilitate a smooth separation in case splitting up becomes inevitable.
Although they seem like simplistic agreements between consenting adults, prenups are complex legal documents that require a degree of expertise to draft effectively.
Seeking the help of an experienced family lawyer is the best way to ensure your assets are truly protected. A lawyer understands the nuances of the law and knows how a judge will interpret key terms. Having professional help means peace of mind now and less stress down the road.
If cost is a concern, many lawyers offer a free initial consultation at no out-of-pocket cost to the client.