More millennials seeking prenups

Pierre Domercq Divorce

Few California couples want to discuss the potential end of their marriage before they even exchange their vows. However, that is for the most part what prenuptial agreements cover. Prenups allow people who are planning on getting married to determine how things like property division and spousal support will be handled if they divorce.
According to a national survey conducted by the American Academy of Matrimonial Lawyers, the attorneys who responded reported that increasing numbers of their millennial clients are opting for prenups. The reasons include the facts that many people in this generation are starting businesses or trying to protect money inherited from their family.
When a couple divorces, if one of the individuals owns a business, the company assets may have to be divided or in some cases liquidated in part to satisfy a property division order. This can wreak havoc on a company’s finances and make it difficult to operate following a divorce. A prenuptial agreement can determine ahead of time what will happen in such a scenario. It can also address how the appreciation in a company’s value during the divorce will be classified for purposes of property division.
Property division is often a contentious part of the end of a marriage. California is a community property state, and thus in general courts will divide marital property equally between the estranged spouses. However, this can be taken out of a judge’s hands if there is a valid and enforceable prenuptial agreement in place. Family law attorneys will often advise clients who are considering one to make sure that it is negotiated and signed well in advance of the wedding date so as to prevent a subsequent successful claim by one of the parties that he or she was forced to sign it under duress.