That singly worded emphatic response to today’s query-posed blog headline owes decidedly to the stated viewpoints and actions of a single American demographic.
Be acknowledged, Millennials.
Unquestionably, your parents – considered as one huge collective – were for decades not too enamored with prenuptial agreements. Although many moms and dads have changed their outlook on marital contracts over time, legions of baby boomers still view such agreements negatively. Arguments are often heard among the older crowd that executing a prenup is like throwing cold water on the embers of love. And so forth.
For millions of boomer sons and daughters, though, that kind of negativity is reportedly nonexistent. In fact, empirical data indicate that high numbers of young people now embrace prenuptial agreements, seeing them as utilitarian and as solid planning vehicles prior to marriage.
There are a number of reasons why that is the case. Here are two of them:
- As a group, Millennials marry later than did their parents, already being embarked on careers that have allowed them to accumulate wealth/assets needing to be protected; and
- Many women nowadays logically have an interest in such contracts, given their progressively enhanced presence in the workplace
Commentators on the subject – professionals ranging widely from financial planners to experienced family law attorneys – applaud what is clearly the increasingly rational approach taken by many younger people toward marital contracts.
One of them states that, “Whether or not you end up signing, it’s a great exercise to go through.”
The reasons why are multiple and clear. Focusing on a prenup prior to marriage can help a couple identify and openly discuss key matters concerning finances and marital expectations that they might otherwise avoid. Having that discussion can clarify goals, reduce uncertainty and help strengthen a union from its very inception.