Younger people choosing prenups more frequently

On Behalf of | Sep 25, 2019 | Family Law | 0 comments

When younger people in Oregon decide to marry, they are more likely to opt for a prenuptial agreement before tying the knot. One survey of matrimonial lawyers found that over 60% had seen a growing number of clients seeking assistance in drafting or negotiating a prenup. Once considered to be the domain of celebrities or the ultra-wealthy, prenuptial agreements can be helpful to people from a wide range of financial backgrounds who want to protect themselves even as they plan for a future together. In the first place, many millennials are marrying later in life. As a result, they may already have solid careers and investment funds before marrying.

Many millennials are very likely to marry other people with similar career goals and assets, meaning that both people may want to keep what they have without fully blending their finances. Prenups can allow people to do this more easily. In addition, millennials may have more assets because they are marrying later. Over 70% of millennial adults have some kind of investment account, so many people have been making considered decisions about their finances for years before they decide to marry.

Younger people are also more likely to be involved with startup companies and other businesses. Prenuptial agreements can be especially important for business founders. In fact, some investors may steer clear of startups where the founders aren’t protected by a prenup due to the potential for business conflict down the line. Overall, younger people are less likely to consider the topic of prenups taboo, making them more likely to opt for these agreements.

People plan to marry with the highest of hopes, but many know that divorce is always a future possibility. A family law attorney may provide advice on how people can protect themselves by negotiating a fair prenuptial agreement that protects both parties.