The new prenuptial agreements are for everyone

The prenuptial agreement as an institution has received a bit of a shot to the arm in recent years, as public opinion on its use is beginning to shift with a new generation of young people taking marriage and shaping it to fit their own ideas. In general, data shows that while divorces are down because fewer people are marrying overall or waiting longer to get married, the use of the prenuptial agreement is seeing a renaissance.

Many of these younger individuals (we could call them Millennials, but we’d really prefer not to do so), are taking the prenuptial agreement into the new millennium by using them to protect an unexpected asset — ideas. While the use of a prenuptial agreement in years past has focused on protecting the jewels inherited from Aunt Linda or preemptively striking down excessive alimony, the new prenups that attorneys throughout the country are seeing requested more and more focus on protecting intangibles.

These could be all kinds of intellectual property, from tech and software ideas to passion projects like films and songs that have yet to be realized. This focus on things of personal rather than solely material value is in line with some of the changing ideas of what is truly cherished and prioritized in a split. Whereas traditional prenuptial agreement were primarily the purview of old money, many of the prenups being drafted these days are created for the ambitious rather than the already-wealthy. It is worth noting that real-estate issues continue to play a prominent role in many of these newer alternative prenuptial agreements.

Regardless of who you, a well crafted prenuptial agreement can strengthen a soon-to-be marriage by removing many of the tensions that create conflict for spouses in the first place. If you believe that a prenuptial agreement may be right for your relationship, the assistance of an experienced attorney can help you create the perfect document for your needs.

Source: Bloomberg Quint, “Prenups for Ideas Are All the Rage With Millennials,” Polly Mosendz, Nov. 01, 2016