Millennials have more assets at riskThe trend to sign prenuptial agreements is even more pronounced among millennials. Previous generations have attached a stigma to prenuptial agreements regardless of their utility. However, millennials are learning on their own how they can use this document to their advantage. Millennials are apt to get married in their mid-to-late 30s. As a result, particularly successful millennials have accumulated more assets and have retirement accounts.
Not having a prenuptial agreement can mean litigationThe consequences of not having a prenuptial agreement can be harsh. Any assets that you have brought into the marriage can be subject to division if they mix with the marital estate. This encompasses most if not all of your accounts. You may also be plunged into costly litigation that can result in risk and bitterness. Many millennials have witnessed this with their parents and do not want to repeat what they saw the previous generation experience.
If you are interested in exploring the possibility of a prenuptial agreement, you may want a family law attorney to represent you. One attorney cannot represent both sides of the agreement, so each party will need their own legal representation. The attorney may help negotiate the agreement and draft the provisions in a way that would enable it to withstand scrutiny if anyone challenged it in court.