More and more millennials are getting prenuptial agreements. Unlike the past, millennials do not view a prenuptial agreement as a taboo or as a negative. So what is a prenuptial agreement?
A prenuptial agreement, commonly referred to as a prenup, is a legal document that dictates how a married couple will divide their assets and also how their debts are handled in case of a divorce.
There are many reasons why millennials are entering into prenuptial agreements. One reason that I have heard is that instead of New York State decide how your assets and debts would be handled in a divorce, you can make those decisions. In other words, you have control instead of New York State.
Another reason is that millennials are getting married later in life then generations before them. Millennials (and anyone else who is older) tend to have more assets. They want to make sure that those assets are protected in case of a divorce.
A few other reasons:
- Female Millennials tend to have more financial information and assets than females in the past.
- Student Loans: Unfortunately, millennials also tend to have student loans. With a prenuptial, you can make sure that only the person who has the student loan will be responsible to pay it back.
- Growing up with Divorced Parents; Many millennials grew up with divorced parents. They recognize that not all marriages last forever.
David Badanes, Esq. and the Badanes Law Office have helped many millennials in creating a prenuptial agreement that works for them. If you are about to get married and have assets you would like to protect, contact David Badanes and the Badanes Law Office, P.C. David Badanes and the Badanes Law Office’s phone number is 631-239-1702, email at firstname.lastname@example.org or visit our web site: www.dbnylaw.com. The Badanes Law Office has offices in Northport and Uniondale.
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