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Millennials increasingly embracing what their parents didn’t: prenups

On Behalf of | Sep 30, 2019 | Family Law

We note a prominent point early on a firm website page focused upon prenuptial agreements at the established Ohio family law firm of Smith, Meier & Webb in Springboro.

We stress this: Contrary to a fading viewpoint that still regards such contracts as killers of romance, legions of Americans are progressively endorsing what they see as strong upsides in prenups. They recognize that the proactive steps taken in thinking about and executing a marital contract “can actually result in a long and successful marriage.”

Millennials comprise a group that reportedly nods its head in collective agreement with that stated bottom line. They are increasingly joining others — e.g., marrying partners with children from a former union, would-be spouses who own a business or professional practice and couples who are creating a blended family – in favoring prenuptial contracts for the benefits they confer.

That amped-up enthusiasm is evidenced by more than anecdotal stories. A recent American Academy of Matrimonial Lawyers study reports that more than half of surveyed family law attorneys are seeing spiked interest in prenups from Millennials.

Why are more Millennials considering prenuptial agreements?

The Millennial demographic favors prenups for many varied reasons, of course. A Business Insider article on the subject points especially to these core motivations:

  • Millennial couples generally marry later than did members of prior generations, giving them more coming-into-marriage assets to protect
  • Many Millennials came of age in the workforce when the so-called Great Recession hit, leaving them cautious about financial matters
  • Millennials “are increasingly interested in investing in the stock market and startup businesses”
  • Millennials seek to safeguard their inheritance rights
  • Some Millennials marrying partners with outsized debt obligations (student loans, for example) understandably don’t want to share repayment duties that could last for decades

We welcome contacts to our firm from members of every marrying demographic who wish to learn the facts about prenuptial agreements (and postnuptial contracts, too) and the strong benefits they can yield for both partners in a marriage.