Top Reasons Why Millennials Are Embracing Prenups and Postnups
Late Marriages
Unlike the past, when boys and girls used to get married as soon as they reached their twenties or mid-twenties, millennials prefer to marry later. They prefer to get married once they settle in life, and during this course, they build property, assets, money, investments, business, and a lot more. They would definitely not want their belongings to go for a toss just in case their marriage doesn't work out the same way they thought it would. Thus, prenups and postnups have become pretty common amongst the millennials so that their hard-earned money and assets stay protected in case of a divorce or separation.
Remarriage and Blended Families
Unlike the older generation, millennials are also inclined towards entering into marriages wherein one or both partners have married before and may also have children. In such a case, there may also be rifts between the children regarding their inheritance rights. Thus, prenups and postnups have become quite common amongst this generation to ensure that the inheritance rights of their children stay protected and they get a fairly distributed share as per the agreement.
Business Mindset
With freelancing models and startups trending in our society, more and more millennials are increasingly focused on building their careers. Most of them embrace their startups before or during the term of their marriage. Having a prenup or postnup agreement safeguards the intellectual property of the individual and also safeguards their ownership over their business. It further ensures that their startup endeavors do not get entangled in a mess in case of marital disputes.
Financial Transparency and Cases of Student Debts
While getting married, either party may have student loans or any other debts in their name. Prenups and postnups define financial clarity in such a case and outline who stands solely responsible for the pre-existing debts. This saves the other partner from being burdened unnecessarily for something that they are not liable for. Such agreements not only provide financial clarity but also foster honest relationships.
Evolving Perspective About Marriage
Most millennials get into marriages with a plan in mind, and thus, prenups and postnups are crucial in such a case to avoid any discrepancy in the future. Marriage, which was once considered a milestone of life, no longer holds the same importance in the lives of millennials. Also, with couples developing mutual understanding about equality, fairness, shared responsibilities, such agreements prevent the spouses from being left vulnerable in case of divorce.
Legal Eagles Eye: Your Partners In The Legal Jargon
Prenups and Postnups allow couples to set financial expectations, which reduces the chances of disputes in case of divorce. Such agreements are no more considered as a signal of mistrust and prove that love and practicality can go hand in hand. It also makes the entire process hassle-free, protecting the interests of the partners. However, drafting such agreements requires legal expertise, which can be attained by reaching out to a divorce lawyer.
Legal Eagles Eye has the best divorce lawyers in Gurgaon who can guide you about your legal rights and obligations, draft agreements taking into account the interests of both parties, and also provide neutral mediation. Our experts not only provide legal advice but can also serve as your financial planners to draft agreements that are fair, legally valid, and protect both sides.
Book an appointment with us now to avoid any unexpected surprises in case of marriage disputes!
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