More millennials are drafting prenuptial agreements

On Behalf of | Jan 21, 2023 | Prenuptial Agreements

Children can have a difficult time when their parents go through a divorce. This process can cause both emotional duress and mental strain on the youngest members of a Virginia family, leaving kids with lifelong memories of this complex time in their lives. This is the motivation for many millennials choosing to create prenuptial agreements. They remember the complications of their parents’ divorces and want to avoid that for themselves.

The benefits of a prenup

Property and money are some of the most hotly contested issues in a divorce. By having a prenup, a couple can decide before they marry how they will handle these two issues in case of an eventual divorce. This can lessen the possibility of litigation and fights over property division and financial settlements. Millennials who watched their parents navigate complex divorces are more likely to create a prenup because of that.

A recent study found that 40% of all the people who created a prenup are aged 18-34. When asked why they want a prenup, millennials frequently cite their memories of their parents’ difficult divorces and the mistakes they made. For these couples, having a prenup gives them peace of mind for the future.

Create a strong contract

There is no single prenup that will work for every couple. Millennials and other couples creating these agreements will benefit from seeking the guidance of an experienced attorney who can help them draft an agreement suited to their individual needs. This agreement can provide protection and confidence regarding long-term financial interests.