Why More Millennials Are Choosing Prenups!

In today’s world, millennials view marriage differently. With social media increasingly being used to meet significant others, millennials often approach marriage with a more businesslike attitude. Because of this, lawyers across the country have noted an increase in prenuptial agreements among millennials. To learn why this is happening, as well as how a New York City divorce lawyer can assist you with this process, here are some fascinating facts to keep in mind.

Protecting Assets

Since millennials are getting married later in life, they may have accumulated assets that require protection. Whether it’s a 401(k), stock portfolio, real estate, or their own business, many want to ensure that if their marriage falls apart, the assets they earned before the marriage remain theirs. To help make sure this happens, it takes the work of an experienced New York City divorce attorney to draw up an agreement.

Student Loan Debt
With student loan debt totaling $1.5 trillion, most millennials enter marriage saddled with this burden. As a result, the spouse without the student loan debt often wants a prenuptial agreement stating the debt will be the sole responsibility of the other spouse should the marriage dissolve.

Children of Divorce
As to why millennials are choosing prenuptial agreements, much of it can be traced back to the fact that many of them are the children of divorced couples. Because of this, they have often witnessed firsthand the devastating financial impacts a divorce can have on individuals, and want to ensure they do not fall victim to this as well.

Since only 42 percent of millennials believe marriage is a life goal, chances are you may find yourself facing the prospect of divorce in the future. To ensure your finances are protected should this occur, schedule a consultation with New York City divorce lawyers at the Levitsky Law Firm to discuss the details of a prenuptial agreement.