Millennials are often known to oppose convention. That seems to be true even when it comes to prenuptial agreements. In the past, prenuptial agreements were more common among young adults from wealthy families or couples entering a second or third marriage. These are drafted by younger adults of all income levels today, not only to protect assets accumulated before and during marriage, but to address social realities that were not necessarily present or common years ago, such as the desire to keep finances separate, student debt, social media use, embryo ownership, and even pet care.
Experts point to the fact that many millennials are the children of divorced parents and have had an intimate view of what can happen financially when a marriage dissolves. At the same time, the stigma or taboo that used to be associated with talking about money before marriage is slowly disappearing. “You are effectively negotiating your divorce settlement in advance in a more equal manner than before,” says Jacqueline Harounian, a partner at the law firm Wisselman, Harounian & Associates in Great Neck, NY. An expanded version of this article appears on WSJ.com Popular Stories from WSJ.com: