California Millennials Are Increasingly Require Prenuptials Before Marriage
Posted on: April 20, 2021
It used to be that most people thought of prenuptial agreements as something that only the extremely wealthy needed. However, we see more and more pre- and post-nuptial agreement requests – and it is largely due to millennials. Read on to learn more, and then contact Law Office of Michael L. Fell at (949) 585-9055 if you require a free legal consultation with a family law attorney.
Prenuptial Agreements Simplify Divorce
In the past, a prenuptial agreement was generally entered into if one of the spouses-to-be had significantly more wealth than the other, and they wanted to protect that wealth. However, today it is more often used by couples with average income simply to make it easier to divorce.
Making Divorce Easier Does Not Mean That Both Parties Are Not Committed to the Marriage
While no one goes into marriage knowing they will get divorced, today’s millennials are more honest about the fact that roughly 50% of marriages end in divorce. They do not want or expect to become part of that statistic but are increasingly willing to take a few steps to make it easier if they do end up divorcing.
Older Marriage Ages Mean More Property
It is also important to remember that millennials, on average, are getting married later in life than generations in the past. As a result, they are more likely to already have careers, homes, and their own acquired wealth.
Consider that in 1960, the average age at which to get married was 21.5 years old. In 2019 the average was 29 years old. It is not hard to assume that a 29-year-old is more likely to have wealth and property than a 21.5-year-old would have.
Women Are Much More Likely to Work Today than in Previous Decades
It used to be that one spouse made the money, and the other generally took care of the kids. This is no longer true. As a result, both men and women (or both men or both women in same-sex marriages) work – and they both have something to protect. This leaves both of them with as much of a reason as the other to have a prenuptial agreement in place.
Talk to a Family Law Attorney Who Can Help Create the Prenuptial Agreement You Need to Protect You
If you are about to get married, then you should consult with a family law attorney to find out how we can help you with a prenuptial agreement. Even if you are already married, a post-nuptial agreement can be drawn up to protect your interests. Contact Law Office of Michael L. Fell at (949) 585-9055 now to request a free consultation.
