More-and-more millennials are putting off marriage until later in life.
This means that when they do decide to marry, they likely already have
established careers and own property. This has made them more protective
of what they have built than previous generations. As a result, the
prenuptial agreement is no longer taboo among millennials.
In the past, prenuptial agreements were seen as unromantic and even problematic
for many couples. Over time though, the circumstances and reasoning for
getting married has significantly changed. In the 70’s, about 8
in 10 people were married by the time they were 30. In 2016, the same
percentage was not met until people reached the age of 45. According to
a 2015 survey conducted by Allstate and the National Journal, more than
50% of respondents in their twenties and thirties say that achieving financial
security is more important than getting married.
A prenuptial agreement is a good way to protect the assets that you’ve
acquired prior to your marriage. The agreement can also be used to secure
future income you might earn as well. Recently, prenups have emerged as
a tool to help divide up debt. In 2013, 41% of married couples had student
loan debt, compared to 17% in 1989. When one partner has more debt than
the other, a prenup can be used to establish responsibility for payment,
should the couple divorce.
However, plenty of couples still don’t like the idea of entering
into a prenuptial agreement. Many view these agreements as the first step
to getting a divorce. Other times, a prenup might not make sense for a
couple’s financial situation.
Do you have more questions about prenuptial agreements? We can help. Our
lawyers can evaluate your circumstances and help determine if a prenup
will be beneficial to your marriage.
Call (303) 578-3940, or contact our Denver prenuptial attorney
to start your consultation today.