Millennials Are Getting Prenups, Despite Not Having Any Money
For richer or for poorer doesn't mean much to a generation who can't afford to buy a house. After all, half of zero is still zero.
Which is why it may be surprising that the number of millennials signing prenups before marrying has spiked, despite the fact it concerns money they haven't even made yet. According to research from American Academy of Matrimonial Lawyers, there was a sharp rise in 18 to 35 year olds seeking asset protection in the last three years. It was revealed that 62 per cent of the lawyers surveyed responded that they had seen an increase in their total number of clients.
According to the Independent, The younger generation are looking to define property in different terms, like intellectual property and technological assets such software apps, songs and films. Additionally, they are keen to protect projects and ideas they may want to cultivate in the future and not have to divvy up.
Other future assets are looking to be protected according to Joslin Davis, president of the American Academy of Matrimonial Lawyers: "Members of the millennial generation are particularly choosing prenups as the best option to cover separate property holdings, business interests, anticipated family inheritances, and potential alimony claims."
New York divorce lawyer, Jacqueline Newman, explained: "Millennials probably need prenuptial agreements more than any other generation as they are dealing with both family money as well as new business ventures."
Remember, it might be bliss now, but one day she could come for your Spotify playlist.
This story originally appeared on Esquire.co.uk. Minor edits have been made by the Esquiremag.ph editors.