Talking about getting divorced isn’t something most people want to discuss before they’ve even gotten married. There has long been a stigma regarding prenuptial agreements. Some people may think they are only useful for the wealthy who have many assets. Others may think a prenup could show a lack of trust and harm the relationship. Many millennials in Minnesota and across the United States are finding that prenups are smart decisions and may actually lead to a stronger marriage.
One reason for the increase in prenups among millennials may be the age at which most are getting married. There is a growing trend to get married later in life. The financial stress of getting married younger as well as the increasing burdens of school and finding a job mean that many aren’t feeling stable or secure enough for a serious relationship until their thirties. More equality among genders also means that women may not feel as much pressure to get married young as they once did. Marriages later in life mean that there are more finances to consider. High divorce statistics are also a warning millennials are paying attention to, and they are more realistic about how their relationship may ultimately work out.
There are many ways assets that once belonged to one person become blended during a marriage. Often, this happens without couples planning for it or expecting it. For example, an inheritance could become marital property if the funds are commingled.
There is a great deal of flexibility in creating a prenup and choosing what to include in it. The agreement can be used to sidestep property division determinations in the event that the subsequent marriage comes to an end. It is recommended that each party have separate legal counsel when negotiating such an agreement.