As many millennials begin to contemplate marriage, one aspect that many Connecticut couples are looking at is that of a prenuptial agreement. Even though a divorce is not something any newly engaged couple wants to think about, the reality and statistics suggest otherwise. But against what many believe to be a disregard for traditions and a lack of loyalty, the reality is that many millennials are simply delaying marriage and have a more realistic view of the reality of marriage and what can happen.
For many young couples looking to tie the knot, a prenuptial agreement is estate planning and the protecting of one’s assets prior to the big event. Creating the “map” of how things will look should the marriage dissolve is not a lack of commitment, but a tool to help with communication and laying all assets and liabilities out on the table. This realistic approach is an invaluable tool to not only building wealth, but preserving it as well.
Even young couples who decide not to marry are looking at cohabitation agreements, which are like a prenuptial agreement. With a cohabitation agreement, couples lay out the same map that dictates what happens to the residence and any accumulated wealth the couple amasses together. This can help to assure that, should the couple part ways, each party is well aware of who gets what.
Thinking about a divorce before getting married is not a precursor to what will actually happen. Many Connecticut couples are considering prenuptial or cohabitation agreements as the first steps to a realistic and honest marriage. Regardless, both agreements need the expertise of an attorney to ensure they are legal and will hold up in a court of law.
Source: dmagazine.com, “The Millennial Divorce”, Nov. 14, 2017