Social media, selfies, online dating, and prenuptial agreements are all the rage with millennials. In a recent blog post, we looked at why it is important to get a prenuptial agreement. It now looks like millions of Americans are protecting their assets before marriage. If you want to know just what a prenuptial agreement can do for you, contact the family attorneys at Vayman & Teitelbaum. Their experienced attorneys can provide you with everything you need to know when it comes to prenuptial agreements.
Rising Rates of Divorce
Some divorce experts estimate that nearly 50% of all marriages in the United States end in divorce. In Georgia, a divorce can result in your assets split up between your ex-spouse and you. A prenuptial agreement can stop this from happening, and that is why so many 20-somethings are signing them before tying the knot.
According to CNBC, a recent poll of lawyers showed that 62% percent reported an increase in prenuptial agreements over the last three years. The trend does not seem to be slowing down.
Prenuptial Agreements for Everyone
At one time, prenuptial agreements were seen as only for the wealthy and financially elite. Yet, that is not true today. The last two decades have seen a continued rise in the pre-marital arrangement, preventing spouses from being burdened with financial expectations post-divorce.
Years ago, a prenuptial agreement was thought to be bad luck and a sign that the marriage would not work out. Now, it is viewed as a precaution that can help both sides get back on their feet following the end of a union.
Why are People Signing Prenuptial Agreements?
As we wrote previously, there are numerous reasons to agree on a prenup before marriage. Some of these factors include keeping your finances separate after divorce and not splitting up assets.
Yet, there are other reasons why millennials are making the decision to sign a prenup. While most think of them as a way to protect wealth when brought into a marriage, it is actually away to protect you or your partner from debt. Student loans are a major burden on America's workforce. Due to student loans and credit cards, debt continues to grow among college graduates. As a result, not saddling a partner with debt is a great reason for millennials to sign a prenup.
Other Factors
One of the factors that many consider to be just as motivating as money for millennial prenups is that they are children of divorce. Going through the effects of divorce firsthand has influenced this generation of Americans to take steps to prevent the same thing from happening to them, their spouses, or their children.
Vayman & Teitelbaum Can Help
The law firm of Vayman & Teitelbaum can provide you with legal guidance when it comes to prenuptial agreements. With four locations in Georgia, Vayman & Teitelbaum, Attorneys at Law, is available to give you insight on prenuptial agreements. Visit our dedicated page to see how we can help you. If you have any questions, contact us and let our experienced attorneys in family law go to work for you.