February 8th, 2024
Why Millennials Are Embracing the Pre-nup and You Should Too
Author: Rama Taib-Lopez
Prenuptial Agreements (“pre-nups”) have historically been associated with a negative stigma or a bad omen for marriage. As well as the misconception that only wealthy individuals need them.
However, the number of couples entering into pre-nups is on the rise. In fact, 62% of divorce attorneys reported seeing an increase in the total number of clients seeking prenuptial agreements before marriage in recent years.
The rising popularity of pre-nups, in particular among Millennials (individuals born between 1981 and 1996), could be attributable to a number of factors such as getting married later in life, the increased debt burden from things like student loans, and a historic shift in the paradigm between men and women with women now being more likely than men to have a bachelor’s or post-graduate degree.
With these kinds of considerations, it is not surprising that pre-nups are becoming more commonplace in the conversations surrounding wedding planning. Rather than viewing a pre-nup as a bad omen, many couples are seeing it as a proactive action. Pre-nups not only encourage you to have the important conversations early on but can protect your respective pre-marital interests, plan for the division of assets and property acquired during the marriage, and provide a solid foundation of transparency and understanding to build on.
As more couples recognize the importance of safeguarding their financial interests and promoting open communication, prenups are shedding their negative stigma.
For those considering whether a pre-nup is right for them, consulting with a Family Law attorney can provide valuable guidance in tailoring the agreement to their specific needs and concerns. In essence, a prenuptial agreement is not just a legal document; it is a practical step towards a well-informed and resilient marriage.