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Should you have a prenuptial agreement as a millennial?

On Behalf of | Jun 10, 2021 | High-net Worth Prenuptial And Postnuptial Agreements |

The oldest millennials are 40 years old, while the youngest are 24. No matter where you fall in this age range, you are old enough to get married. If you are considering marriage, you should also think about a prenuptial agreement.

According to Insider, the traditional view of prenuptial agreements are that they are only for people who are either very wealthy or have a history of past marriages. As a millennial, you may fall into either category. Even if you do not, however, there are still good reasons to think about a prenuptial agreement.

You have accumulated assets

The trend is for millennials to marry later in life than previous generations did, with the average being in the mid-to-late 30s. If this describes your situation, you may have accumulated some significant assets during that time, such as a car, a retirement account, perhaps even a house. Even if you do not consider yourself wealthy, it is in your interest to protect those assets, and a prenuptial agreement can help you do that.

You have a dream to protect

You may have already started up a new business, nonprofit corporation or similar venture. If you do not have one now, you may have plans to found one in the foreseeable future. You may want to involve your spouse in your dream, but if your marriage eventually ends in divorce, the dream may turn into a nightmare. A prenuptial agreement can protect your interest and allow you to continue your venture even if someday your spouse is no longer in the picture.

In the past, there was often a stigma attached to prenuptial agreements, but this attitude is slowly changing. As a millennial, you are likely accustomed to paradigm shifts of this nature. After all, your generation is often the one driving them.