Everyone knows millennials love avocado toast. What’s not to love? Crunchy bread, topped with a creamy spread of avocado, olive oil, and sea salt. Yum! Okay, millennials love vegetables on toast, but do they give the same love to marital prenups? The answer is yes!
Millennials are getting more prenups than ever before. According to the American Academy of Matrimonial Lawyers (AAML), 51% of lawyers say they have seen a heavy increase in the number of millennials requesting prenups. The lawyers are attributing it to couples marrying at an older age these days. The older the couple, the more assets they have, and the greater need to protect themselves.
As noted by the New York Times, the rise in prenups could also be credited to more millennials growing up in divorced households than other generations. In other words, learning from their parents’ mistakes. Additionally, the New York Times mentions how more women are in the workforce than ever before. Meaning, millennial women have a higher interest in initiating a prenup to protect their assets than perhaps their baby boomer grandmothers.
The AAML stated that over the past 20 years, prenups have increased fivefold. Meaning that past generations were five times less likely to get prenups than millennials! It’s safe to say that Millennials are synonymous with not only avocado toast, but prenups, too.