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West Dundee, IL847-428-7725
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The Love Affair Between Millennials and Prenups

Posted on in Asset Division

Kane County Prenup Lawyer

When couples decide to get married, they may have a prenuptial agreement prepared before the wedding. A prenuptial agreement (prenup) goes over how a couple will divide their assets and handle other matters if they were to get a divorce. 

Marriage trends in society constantly change over time. A shift in gender roles, lifespan, and expectations of marriage have led to an increase in the prevalence of prenups with the millennial generation. 

Why Are Prenups Good for Millennials?

The increase in prenups is most likely due to a combination of factors. Millennials overall are getting married at a later time in their life, so they have more time to accumulate assets than if they were married at a younger age. It does not matter as much how assets are divided when you do not have many, which is often the case for couples who marry at a young age. 

The larger amount of assets to divide is also related to the fact that while only 13 percent of women living with a male partner earned more than half a couple’s income in 1980, today that percentage has nearly tripled. More assets and wealth are available to males and females in a relationship. Historically it has often been the just male, but that has changed dramatically. Millennials are also more likely to view prenups as a team effort instead of harboring any feelings of resentment.

Another factor which has impacted the rate of prenups among millennials is the significant number of them who grew up with single or divorced parents. People who grew up that way are more likely to know there is a possibility they will get divorced at some point. It is not something they want to happen, obviously, but the practical side of their brain knows that it happened to their parents, and it could happen to them. In this regard, many millennials have traded in idealism for realism, to prepare for the worst-case scenario, just in case.

Contact a Helpful West Dundee Divorce Lawyer

If you would like to have a prenup in place before you get married, you need a compassionate and skilled Kane County prenuptial agreement attorney. The lawyers at the Law Offices of Benedict Schwarz, II PC can help you navigate the occasional difficulties that arise in creating a prenuptial agreement. Contact us today at 847-428-7725 to set up a free consultation. 

Source:

https://www.nytimes.com/2018/07/06/smarter-living/millennial-prenup-weddings-money.html

 

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