It’s well known that millennials prize experiences over possessions, but the latest trend in prenuptial agreements shows that this generation might also favor protecting what’s in their head over what’s in their wallet. The number of millennials seeking prenups is on the rise nationwide, and it’s thoughts and ideas that members of couples want to protect in case of a bitter breakup.Just over half of matrimonial attorneys saw an increase in millennials requesting prenups over the last three years, according to a survey of 1,600 lawyers conducted by the American Academy of Matrimonial Lawyers. It’s not just millennials: Some 62 percent of those polled said clients of all ages are increasingly asking for prenups. But it’s a notable increase from how many 18- to 35-year-olds were getting prenups a generation ago. “Millennials are getting older and richer,” said Randall Kessler, a family lawyer based in Atlanta who specializes in divorce. “Prenups used to be for old money, but now prenups do different things, like safeguarding intangible property.” A decade ago, only 5 percent of the prenups Kessler’s firm worked on were for millennial-aged clients. Today, that number is about a quarter.
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Source: Prenups for Ideas Are All the Rage With Millennials – Bloomberg