Tennessee couples who are considering marriage may be interested to learn that a little more than half of family law attorneys who participated in a survey saw a boost in the number of prenuptial agreements that were being requested by 18- to 34-year-olds. These numbers are consistent with a 20-year trend where more couples were requesting prenuptial agreements.
There may be several reasons why millennials are increasingly requesting prenuptial agreements. Many couples are putting off getting married and starting their families. People may postpone a wedding in order to start their career, especially because they may be required to relocate. This often means that couples are then entering marriages with some wealth that they have accumulated. Additionally, this also means that some couples have significant debt as well.
Many millennials have also learned from their parents, especially if they are children of divorce. As such, they may have experience when it comes to watching their parents split up assets and finances. Finally, the way that millennials think about divorce may also be changing. Only about 42 percent of millennials view marriage as a life goal, meaning that they may not be as hesitant to get a divorce if needed.
Prenuptial agreements can protect a person’s sole property if the marriage fails. In order for a prenuptial agreement to be valid, there are certain steps and requirements that the agreement must meet. Family law attorneys will often advise their clients who are thinking about one to make sure that it is negotiated and signed well before the date of the wedding. This could help to combat a future claim by one party that he or she was forced to sign it under duress.