Sometimes, younger people think that prenuptial agreements are only for people older than them or for those who have achieved great wealth or have multiple assets to bring into their marriage.
But that isn’t the case. Prenuptial agreements make sense for many millennials, and it’s something you might consider before you walk down the aisle in Connecticut if you’re in that age group.
Despite still being on the younger side, the millennial group is getting married at an older age than people did a generation ago and likely will enter marriage with greater assets than their parents did. They want to protect those assets in the case of divorce, whether the holdings are a home, a stock portfolio or an investment in a startup company.
As an example, a year ago, the New York Post reported that about 70% of millennials hold investments – investments that could skyrocket and become a rich addition to a portfolio.
Millennials seemingly are interested in keeping their assets from becoming a joint asset when it comes to funds yet to be earned, such as an inheritance. They don’t want to merge debts and take on credit card bills or student loans that a partner might bring into a marriage.
While we’ve all seen awkward scenes on television where one future spouse is hesitant to ask the other about a prenup, it seems to be a frequent conversation now among couples. Women, increasingly the main breadwinners in the couple, also are leading the charge. Both genders stand to benefit.
So, if you’re a millennial, don’t be afraid to broach the subject. A prenuptial agreement can protect sides in a relationship, and frankly talking about money before marriage is a positive step to take before the wedding.