As California couples prepare for marriage, they think about their future lives; increasingly, for millennial couples, this includes signing a prenup to protect that future. According to a survey by the American Academy of Matrimonial Lawyers, 62% of lawyers reported an increase in clients seeking prenups. Of those who reported the increase, 51% percent reported that millennial clients were seeking prenups.
There are many reasons why millennials want prenups. A big reason is that millennials do not see prenups as taboo as earlier generations did. Because millennials are concentrating more on building their career and income options and are marrying later than previous generations, they see prenups as a way to protect their future assets in case of divorce. While millennials might not be as interested in acquiring physical assets such as a house, they are interested in investing in stocks and tech companies, for example, which might not be that valuable at the beginning of a marriage but might be worth significantly more in the future. The end of a marriage puts those assets at risk.
Another reason why millennials are interested in prenups is that a higher number of women are both part of the workforce and paying alimony and support after a divorce. For millennials, signing a prenup may be an attempt to avoid these payments if the marriage does not work out. Millennials are also concerned with protecting future assets, such as inheritances and gifts.
Whether there is a prenup or not, California residents who are thinking of seeking a divorce might consult with a lawyer. A lawyer may guide them through the process, help them fill out the correct forms, gather the necessary documents and represent them during the process.