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Millennials embrace prenups for divorce protection

Many different social norms change from one generation to the next. Marriage and divorce is no exception. A recent survey conducted by the American Academy of Matrimonial Lawyers suggests the younger couples are increasingly choosing to create a prenuptial agreement prior to heading to the altar. In fact, among the family law attorneys who were surveyed, 62 percent reported an increase in prenuptial agreements in recent years. For those in Kentucky who are preparing to wed, this is an important matter to take into consideration. 

This shift may be the result of changes in attitude surrounding marriage and divorce. In the digital age, dating and courtship have been fundamentally altered by online dating and apps such as Tinder. Those changes may have caused a shift in attitude among younger people, and a more pragmatic approach to issues of marriage and divorce.

Many people understand that a prenuptial agreement does more than simply protect wealth that is brought into the marriage. Debt is also a pressing concern, especially among many young people who have accumulated significant student loan and consumer debt before becoming engaged. Without a prenuptial agreement in place, the division of debt can become a significant factor within a divorce.

Millennials may simply be less romantic and more pragmatic when it comes to protecting against financial loss in the event of a divorce. That shift is not necessarily a bad thing, as anyone who has gone through a contentious divorce can understand. Kentucky residents should take the time to research prenuptial agreements as part of their wedding preparations.  

Source: cnbc.com, "Before saying 'I do,' more millennials say 'prenup'", Jessica Dickler, Nov. 25, 2016

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Tasha Scott Schaffner, PLLC - Attorneys at law

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