Are Prenuptial Agreements the New Selfie?
According to a recent study, the millennial generation cares about more than just social media; they care about prenuptial agreements too. The American Academy of Matrimonial Lawyers found that 51% of attorney surveyed have seen an increase in the number of millennials requesting prenuptial agreements.
“Couples are getting married at later ages these days and are consequently entering their relationships with more to protect in the event of a divorce. A prenuptial agreement often represents the most effective way to address these concerns and safeguard individual assets before exchanging vows,” said Joslin Davis, president of the American Academy of Matrimonial Lawyers.
Specifically, millennials are choosing to cover individual properties, businesses, family inheritances, and alimony claims in the event of divorce. It might not be a bad idea to take a page of the millennial’s playbook and exploring the idea of a prenuptial agreement as it can do more than just set stipulations about your property, money, etc. It can also set stipulations for responsibilities within a household, child care, and other non-financial issues.
A prenuptial agreement can be an integral part of an estate plan. If you are exploring the idea of a prenuptial agreement (for you or your heirs), FMJ’s Trusts & Estates attorneys are willing and incredibly-able to explore your options with you.