Jun 16, 2022

Why More Millennials Are Signing Prenups Before Marriage

Why More Millennials Are Signing Prenups Before Marriage

Setting expectations for the division of assets in the case of a divorce, prenuptial agreements have long been associated with the rich and famous. They also carry the stigma that anyone who signs one doesn’t think their relationship will last. However, more millennials are signing prenups before marriage than other generations. Here’s why.

Intangible Items

In today’s world, physical items and finances aren’t the only things one must consider when going through a divorce. Many couples must also address aspects such as shared pets and even frozen embryos. Scientific advancements such as in vitro fertilization have created the possibility of freezing embryos until the couple is ready to implant them. But in the instance of a divorce, to whom do these embryos belong? Some couples stipulate in their agreements that the embryos be donated to stem-cell research, while other couples agree that someone can only use the embryos with the other party’s consent.

Previous Experiences

A significant reason why many millennials are turning to prenuptial agreements is that they’ve seen just how difficult a divorce without one can be. Many millennials grew up with their parents going through divorces. They’ve seen firsthand how messy things can become when there are no rules in place, and they want to do everything to avoid this. Thus, they sign prenuptial agreements to divide their assets in a transparent, manageable way if their relationships were to end.

Waiting Longer Before Marriage

Millennials are marrying later in life than previous generations, and during this extended period when they’re single, they’re collecting assets and debts. In addition, millennials are also dating for longer periods. These longer relationships can complicate matters, and to make things clear and easily dividable in the instance of a divorce, this generation is opting for prenuptial agreements. Millennials have bucked the stigma that comes with these agreements, and they’ve pushed aside many other relationship taboos in favor of creating more positive relationships.

More millennials are signing prenups before marriage, and it makes sense. They have seen how harmful messy divorces can become, and they want things to be simple. In a world where nothing is certain, they want to do everything they can to make it more so. At Schiller DuCanto & Fleck, we can help you put together any prenuptial agreements in Illinois so that you can protect yourself and your assets.

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