Prenups Are on the Rise Among Millennials—Here’s Why

Millennials and Prenups has gotten a lot of attention recently (as it should!) and Brides had a good recent article on the subject -

"So the real issue is that a lot of people think that prenups are a good idea—just not for them. They think that they are exempt, that their marriages are different. But my guess is that most people who eventually find out that they needed a prenup never thought it would come to that. You need to expect the unexpected, and more millennials seem to be getting that.

So, should you get one? I would encourage everyone to get a prenup. Seriously: everyone. And you may not think that they apply to you, but one of the most important things to remember about prenups is that they’re not a one-size-fits-all situation. Far from it. We usually think of prenups as being a way for incredibly wealthy people to protect their fortune against gold diggers—so many people would be offended if they were asked to sign one. But in reality, prenups can actually be used to protect the more financially vulnerable party—and they might be the best protection you get.

Think of it this way: You’re a woman who doesn’t have a lot of money and you marry into a wealthy family. Eventually you give up a career to take care of children, and by the time you get divorced, your career has been derailed and you haven’t amassed a personal wealth. If your partner’s family has a lot of money and feels litigious, they can do their best to drag things out in court so you don’t get a dime in a divorce. But a prenup can state that if you take time off to take care of children, you’re rewarded to reflect that. Taking care of kids is a job, and you can make sure that you get paid for it. It’s not just about protecting the fabulously wealthy—it’s about protecting you. That’s just one situation, but it can be tailored to fit whatever yours is."

The full article is here.

Want to talk about a Maryland Prenuptial Agreement? Contact us today.

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