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Millennials are behind the rise in prenups

It is not just California residents who are interested in prenups. A recent study that involved surveying divorce attorneys showed that the number of clients requesting prenuptial agreements is on the rise across the nation, and it seems like millennial clients are behind it.

Millennials are interested in protecting their assets. While millennials do not own the same amount of hard assets, like property, as did previous generations, they do have significant assets that they are interested in protecting when going into marriage. In case a divorce does happen, they want to be able to protect the investments they have made in startup businesses, the tech industry and the stock market. One study showed that about 7 in 10 millennials have invested in something.

The increase in prenuptial agreements among millennials may also be fueled by the fact that this group of individuals is getting married later in life than individuals from past generations. Many are focusing on their professional careers and getting married later when they have more assets to protect. Many millennials wait until they are in their late 20s or early 30s to get married.

It is not just about protecting the assets that a millennial currently has. Many are interested in protecting assets that they will receive in the future, like inheritances or gifts from family members.

If an individual is interested in getting married and they make significant income in comparison to their partner, a prenup may protect them from future alimony or support payments. A person who is interested in protecting their finances in case of divorce might wish to speak with a family law attorney. The attorney may help them draw up the necessary documents and provide other advice related to legal matters regarding marriage, finances and divorce.

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