Millennials and Prenuptial Agreements
It is no secret that millennials often get a bad rap. As one of the largest generations in history, their influence in the world is far-reaching. Growing up in rapidly changing times has meant that millennials have redefined many aspects of life, with priorities and expectations drastically different from previous generations. As a result, millennials have successfully put their spin on prenuptial agreements and are looking at this important pre-marital contract through a different lens.
Many individuals view prenuptial agreements as a contract for the rich and famous. It is true that historically, prenuptial agreements have addressed parties’ finances in the event of a failed marriage. But millennials are redefining how prenuptial agreements are used. They have begun using them to plan various aspects of a marriage, including social media and pets.
Dogs, cats, and other pets have become hot topics for debate in the event of a divorce. Many millennials often bring a pet into the marriage. Nevertheless, addressing pet visitation schedules in the event of a split within a prenuptial has become a trend. This helps ensure fairness and the ability of each party to maintain a relationship with the pet. Additionally, millennials are addressing costs of vet bills, food, luxury pet items, etc. in prenuptial agreements. Understanding how such costs will be handled in the event of a split will alleviate the burden of having to do so later when tensions are likely at an all-time high.
In addition to addressing issues concerning pets, millennials are also addressing issues concerning social media within prenuptial agreements. With many social media platforms used by individuals daily, access to an individual’s images, videos, and other content is commonplace. As a result, millennials are addressing how content is shared and publicized in the event of a split. Because a divorce can turn ugly quickly, including clauses related to social media within a prenuptial agreement can prevent damaging actions related to social media later down the road.
Millennials have shaped prenuptial agreements in a way that works for them and their current lifestyles. More changes to the ways prenuptial agreements are used will likely come along as the needs of people and society constantly change. As a millennial, let us know what you would want to include in your prenuptial agreement.