Many millennials in Oregon and around the nation are waiting until later in life to get married than those from earlier generations. As a result, more of them have steady jobs, own businesses or have amassed property. It is understandable that an individual would be protective of what he or she has earned. This holds true even where marriage is concerned. Prenuptial agreements are become more commonplace, particularly for those who have waited to tie the knot and come to a marriage with established assets.
Prenups are particularly beneficial when the couple has differing financial personalities. One partner may be conservative and focus more on savings and investments. Risk-taking may be the trait of the other partner and could cause a disconnect when it comes to finances. Having a document in place to divide assets and debts should a marriage end can reduce potential conflict in the future.
A prenuptial agreement can be established to protect the assets an individual has accumulated, as well as any future income that may be earned. In this age of intellectual property, it would be wise to also protect ideas someone has that may be propelled into a future business. Since many millenials are waiting longer to get married, some come into a relationship with a good amount of debt. Many couples use prenups to separate their debt loads should they divorce in the future.
In the past, prenuptial agreements had some sort of taboo associated with them. This is not the case anymore, as a recent survey of matrimonial lawyers reported that over 51 percent of the clients they counsel requested prenups. Anyone contemplating marriage in Oregon may want to consider contacting a family law lawyer to discuss developing a prenuptial agreement. An experienced attorney can assess clients' needs and recommend the best course of action.
Source: The Washington Post, "Why you're more likely to have a prenup than your parents were", Jonnelle Marte, Aug. 4, 2017