Louisiana lawyers may have seen an uptick in the number of couples signing prenuptial agreements before getting married. Of the couples signing prenuptial agreements lately, the majority of them are millennials.
What role do assets play in prenuptial agreements?
Prenuptial agreements exist as a way to maintain some independence even when married. These agreements might address assets and financial accounts that were obtained before the marriage or even before the couple started dating.
Many millennials don’t have houses or even cars by the time they’re getting married. If they do have those things, it took them a long time to get it, and they can’t risk losing it in a divorce.
The oldest millennials are in their 40s. Millennials who are older and getting married might be more interested in protecting these assets because there’s less opportunity to just go buy a new house, car, etc. after a divorce.
What role do future assets play in prenuptial agreements?
Some millennials might not have much to their name when they first are getting married and signing a prenup. In this case, prenuptial agreements can be used to safeguard any future assets they may obtain in the future. These assets can be 401(k)s, investments, an inheritance or other items that might come into their possession during the marriage. Protecting personal assets is important due to hard it is for millennials to get these assets compared to older generations.
Prenups just aren’t taboo anymore
Many millennials had to grow up seeing their parents get divorced at one point or another. Women who are working or expect to be homemakers at some point in their marriage might be even more interested in signing a prenup to protect their interests in a divorce. As a result, there’s not as much of a taboo when it comes to signing their own prenup. They want to protect their interests and their partner’s interests.
Older generations might have seen prenuptial agreements as bad luck, but millennials are far more likely to embrace this trend. They are more eager to protect their assets and want to support themselves in the event of a divorce.