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Millennials protect their independence with prenuptial agreements

Creating a prenuptial agreement was once taboo for carrying an unromantic stigma of the marriage's potential to collapse.

Today, however, prenuptial agreements have risen in popularity for millennials, according to a recent report by the American Academy of Matrimonial Lawyers (AAML).

What does a prenuptial agreement do?

"Prenups," as they are often called, help marrying couples set guidelines for what will be considered separate and community property, as well as how other assets should be divided in case of divorce, legal separation or death.

With about 40 to 50 percent of marriages ending in divorce, the realty of the potential for divorce is clear. However, many millennials regard prenups as a business agreement with their partner, rather than an unromantic prophesy.

Women request prenups more often than men

In contrast to the past, AAML's survey shows that women are now most often initiating a prenup request. Today, women and men have a more equal opportunity to gain financial independence than they have historically. Prenups allow each partner to protect the independence they've earned while joining together as a team.

Other contributing factors

Sources suspect contributing factors to prenup popularity may also include:

Making your prenup valid

If you are considering creating a prenup with your spouse-to-be, follow these guidelines to ensure that the agreement is valid:

  • Get it in writing -- oral prenuptial agreements are not recognized in Missouri
  • Both parties must sign and attest to the agreement
  • Parties must enter into the agreement willingly and with full disclosure of the details of the agreement

Work with an attorney to ensure that all of the information in the document is pertinent, accurate and enforceable.

If you have further questions on the implications of a prenuptial agreement in Missouri or are ready to start drafting, give us a call at Roberts Wooten & Zimmer LLC to discuss further.

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Roberts Wooten & Zimmer LLC
10438 Business 21
P.O. Box 888
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