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What’s with Millennials’ enthusiastic endorsement of prenups?

On Behalf of | Sep 16, 2019 | Divorce |

It has seemingly been forever that prenuptial agreements have been simultaneously endorsed by some parties and flat-out slammed by others.

The former crowd dispassionately conveys the benefits that prenups provide relevant to financial certainty and security.

Conversely, the latter demographic lambasts the document for the figurative dagger it plunges into hearts otherwise filled with love. Concededly, prenuptial contracts are not the most romantic of legal instruments.

But they are effective when thoughtfully drafted and executed, and that fact alone reportedly enhances their popularity these days among marrying American partners of all ages.

Especially so-called Millennials. Legions of individuals within that group are just beginning to enter a life phase marked by meaningfully accumulated savings and proven success at the workplace. They’ve got some assets, and they want to safeguard them against a failed marriage.

That is true of other age groups too, of course, but Millennials are empirically a bit different. On average, they marry later in life than do other groups, which often results in them bringing comparatively more wealth into a marriage. The writer of a recent Business Insider piece additionally notes that Millennials are markedly interested in starting their own businesses and investing in the stock market.

And there is this, too: Many Millennials seem to be relatively careful about their finances owing to the great economic turbulence that rocked the country when they began working a few short years ago.

The bottom line, as noted by the organization American Academy of Matrimonial Lawyers, is that more Millennials than ever before are executing prenuptial agreements.