Taboo.
That is a word once commonly linked with a specific legal instrument relevant in the family law realm.
Other synonyms and tandem terms often accompanied it, all being commonly aligned with the notion that the tool – namely, a prenuptial agreement – spelled poison for love. Past generations of Americans in Maryland and nationally largely united in the opposition of prenups, stressing their alleged signaling of marriage failure even prior to commence of a couple’s new life together.
Research findings from varied sources now stress an apparently new perspective surrounding premarital contracts, spotlighted by one distinct demographic’s progressive embracing of their perceived utility.
That group compromises the mid-20s-to-mid-30s (giving a few years on either side) crowd deemed Millennials, who family law experts and commentators say are altering prenup-linked perceptions.
Here’s an example: A study sponsored by the America Academy of Matrimonial Lawyers cites a broad band of family law attorneys noting a national swelling of interest in prenups. Reportedly, significant enthusiasm for such contracts is readily on display among Millennials.
Why is that the case?
Several reasons are offered, including these factors:
- Millennials generally wed at a later age than did their parents, resulting in a comparatively larger asset accumulation at the time of marriage that they seek to protect
- Evidence indicates that the Millennial grouping comprises many entrepreneurs and business enthusiasts who want to engage with the stock market and/or create their own companies
- Legions more young women than in prior generations are embarked on lucrative careers and want to protect their wealth against potential downsides
- Young spouses are increasingly skeptical regarding their willingness to shoulder a partner’s significant debt (e.g., a massive student loan)
Other pro-prenup motivations also obviously factor into the mix. The bottom line concerning a prenuptial agreement resides in its purpose, which is essentially to be a planning tool that promotes timely discussions and careful legal crafting regarding important financial concerns.
A proven family law attorney can provide further information.
