California millennials may be more likely to get prenuptial agreements than previous generations, and experts agree that because of the assets many of them bring into marriages, this is a wise idea. Many millennials are marrying at older ages, and they may be bringing family money into the marriage that they want to protect in a divorce. Millennials may also be business owners, and they might want to protect those interests. Startups in particular may rise in valuation after marriage.
Signing a prenup is something couples may hesitate to talk about. However, there may be a number of positive aspects to doing so. Couples may write a provision into a prenup that requires a period of counseling before seeking a divorce, and this could result in saving the marriage.
However, even if the marriage ends, a prenup can save a couple money. Divorces in which the parties are wrangling over assets can quickly become expensive. A prenup can also prevent the costly and lengthy process of dividing intellectual property. Furthermore, like making an estate plan, creating a prenup is about making a solid plan for the future.
When a marriage comes to an end and there is not a prenuptial agreement, a person may be concerned about how property will be divided. California is a community property state, and this means that in general, judges will divide marital assets and debts equally during the property division phase. However, many couples can avoid this by attempting to negotiate a settlement agreement with the assistance of their respective family law attorneys.