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Prenuptial agreements becoming more popular with millennials

Despite the fact that they are often viewed negatively and as only being for the very wealthy, prenuptial agreements can actually benefit many different types of couples in Denver. While they can be used to protect financial assets that each person brings into the marriage, they can serve other purposes as well reports Business Insider.

Prenuptial agreements can address issues such as child custody arrangements and what will happen to any assets that are obtained during the marriage. In addition, many people have a lot of debt when they get married and having something in writing outlining who will be responsible for that debt in the event of a split can save a lot of arguing down the road.

Millennials in particular may be saddled with things like student loan debt. Because of this, the number of millennials requesting prenuptial agreements is on the rise. However, their financial interests are not the only thing that they are interested in protecting, according to Bloomberg. Many young adults are seeking to protect nontangible things as they enter into marriage. This includes intellectual property and ideas including:

  • Future businesses they may start
  • Software or apps they may develop
  • Ideas for books or screenplays
  • Music and song lyrics

This is in addition to the more normal things people seek to protect like family money and real estate holdings. Interestingly, alimony is not something that millennials appear to be requesting as part of their prenuptial agreements. In addition, millennial women are increasingly being the ones to request a written contract, whereas historically it was men who sought to protect their finances the event of a divorce.

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