Prenuptial agreements may slowly be losing their negative stigma. Reports show that younger people have been embracing them more and more often for decades, and that has not changed with millennials.
In roughly the last 20 years, reports show that the use of prenups has gone up by 500 percent. When legal experts were asked about the span from 2014 to 2016, the majority — a full 62 percent — claimed that this trend was continuing, that the number of couples using prenups had only been increasing.
Why is this happening? The divorce rate is still high, and young people appear very conscious of this fact. Some who were interviewed didn’t view a prenup in a negative light at all, thinking it was just a practical document for a modern marriage.
Part of the reason also involved their age at marriage, which has been increasing. More and more people are putting off tying the knot in order to pursue their careers, and they’re also putting off starting a family. On the whole, this means that couples who finally do decide to get married tend to have more assets than if they would have gotten married five years earlier. Since they’re career-oriented, they take what steps they need to take to protect those assets.
It’s very interesting to see the perspective on prenups change over the years as people realize just how useful and practical these can be. If you’ve been considering one yourself, perhaps due to a marriage a bit later in life, be sure you know exactly how they work and what legal options they provide for you.
Source: CNBC, “Before saying ‘I do,’ more millennials say ‘prenup’,” Jessica Dickler, accessed Oct. 20, 2017