For years, millionaires made the news with prenuptial agreements that drew solid lines between what belonged to both parties. When Indiana couples brought unequal capital into the marriage, many people frowned on the prenuptial agreement as taking advantage of the financially dependent partner. There has also always been the stigma that it signifies lack of commitment.
In spite of this, millennials are the most likely generation to sign a prenup. NY Times believes one likely reason for this is that millennials have married later on average than preceding generations. Instead of entering into marriage at the start of their lives and then building together, both parties bring assets to the table. With more women in the workplace, both parties may continue to add assets to the table and would like to keep their share if things do not work out.
NY Times also points out that one-third of millennials grew up with divorced or single parents. Having witnessed the effects of divorcing without a prenuptial agreement — or the benefits of having one — many now opt for this instead of playing it by ear. It allows them to protect their independence and the assets they accumulated. Lawyers who spoke with NY Times say there is no emotion attached to it. Millennials treat the document as a business deal in the event of a loveless or bitter marriage coming to an end.
This might surprise many people from older generations. After all, how many millennials are bringing a luxury vehicle and two mansions into their marriage? However, Forbes points out that despite what many people might think, prenups are not just for the rich and famous. Here are the people it believes needs a prenup most:
- Spouses about to relocate
- Aspiring business owners
Some people marry on the ideology of forever, or at the very least until death do them part. Others acknowledge that U.S. divorce rates are high and that they may not be one of the lucky ones. There is no telling what the future may hold. Best-case-scenario, the couple may never need that prenup. Just in case they do get divorced though, they might spend less time arguing over who gets what in court.