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Think you’re too young for a prenup? Think again

Millennials are subjected to a number of negative stereotypes. Older generations say they are lazy, entitled and careless in ways they were not. However, the fact is that for many millennials, these descriptors could not be further from the truth.

In fact, many millennials are incredibly driven, cautious and outspoken. They take their future seriously and speak up about what they want and deserve. With this in mind, it should not be surprising that there is reportedly an uptick in millennials seeking prenuptial agreements. In this post, we will look at some reasons why you would be wise to consider signing a prenup if you are a millennial about to tie the knot.

  1. You have assets worth protecting: Studies indicate that millennials are starting businesses and investing at a higher rate than other generations. This means they are entering a marriage with more individual assets than their parents may have had. Further, because people are waiting longer to get married, they may also have pets or children of their own that need protection.
  2. You also have debt: Millions of people carry debt from medical expenses, credit cards and student loans. If you and/or your soon-to-be spouse have separate debts, you can protect each other from having to take them on in the event of a divorce with a prenup.
  3. You are pragmatic: Call it cynical, jaded or realistic, but millennials are not known for looking at the world with rose-colored glasses. Many young people understand that there is a high rate of divorce; they also recognize that having a plan B doesn’t mean you hope plan A fails. In other words, having a prenuptial agreement doesn’t mean you think your marriage will fail, it means that while you are hoping for the best, you value being prepared for the worst.

Planning ahead and protecting your financial future is wise at any age, even if you are in your 20s or 30s and are still figuring out who you are and what you want right now.

If you are getting married, it can be a wise decision to speak with an attorney about the importance of a prenuptial agreement. With some legal perspective, you can assess your needs and best interests and take steps to preserve them.