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Why Millennials might consider a prenuptial agreement

As California residents who are contemplating marriage may know, having a prenuptial in place before the wedding might help protect assets already held by each partner. A survey taken by the American Academy of Matrimonial Lawyers shows that over half of the 1,600 attorneys surveyed reported an increase in the request for prenuptial agreements from Millennials.

There are reasons for a Millennial to consider a prenup as well as anyone else contemplating marriage. Divorces may be costly, and having a prenuptial in place helps protect assets. This might be especially true if one is a business owner. Businesses frequently increase the customer base over the years, partially due to the owner's reputation. One potential problem during a divorce is figuring out how patronage will increase in the future. With a prenup, a business owner's reputation may be protected as an important part of that business.

An individual may want to consider adding a requirement for marriage counseling to a prenuptial agreement. Because some couples may rush to divorce too quickly or do not agree to counseling when problems occur, having a marriage counseling clause in a prenuptial agreement may be beneficial.

For those who hold intellectual property, it may be costly to divorce when valuing the worth of a trademark or copyright. While some couples may agree that one partner buys out the other, some ex-partners may end up having to share the income from intellectual property on a regular basis. Having a prenuptial agreement that addresses who is entitled to the proceeds from intellectual properties might help avoid disagreements later and save money.

An individual contemplating marriage may benefit from consulting with a family law attorney. An attorney might assist by providing details on the elements of a prenuptial agreement and help by drawing up the document.

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