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Millennials more likely to have prenuptial agreements today

An increasing number of millennials in New York are putting off marriage until they get older -- the opposite of what previous generations did. As a result of this, millennials usually have more property, businesses or careers by the time they are ready to get married. This is why putting together prenuptial agreements is becoming more common today.

In years past, prenuptial agreements were often a point of contention for couples. In some romantic relationships, these agreements signaled a lack of trust or the foreseeing of an end to the marriage down the road. Other couples felt that these types of legal contracts were simply unromantic.

However, many millennials view prenuptial agreements today as a way for them to protect their individual assets. For instance, perhaps one soon-to-be-spouse wants to protect her condo, whereas the other one wants to protect his or her business start-up. These types of agreements can actually also protect their future incomes if they wish.

With prenuptial agreements, couples in New York can spell out exactly how they want their assets to be split in the event they get divorced. Postnuptial agreements serve the same purpose except they are entered into after two people have already gotten married. Fortunately, even if a couple going through divorce have neither a prenuptial nor a postnuptial agreement, they can still strive to work out their issues without further court intrusion. Through negotiation or mediation, for instance, they can decide for themselves how to handle asset division or spousal support, pushing for a settlement that is mutually beneficial and satisfactory.

Source: washingtonpost.com, "Why you're more likely to have a prenup than your parents were", Jonnelle Marte, Aug. 4, 2017

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