Some people in Texas might have some preconceived notions about what prenuptials are and who uses them. However, young adults are shaking up those long-held beliefs. Millennials are not just delaying marriage until later in life, they are also better prepared for divorce than their parents might have been.
According to the Pew Research Center, Millennials range in age from 22 to 37 years of age, including adults born between the years 1981 and 1996. Millennials’ impact on marriage is clear. In 2005, the average ages of marriage for men and women were 27 and 25.5 respectively. In 2019, those average ages rose to 29.9 and 28.1. So why the later marrying age? With many Millennials entering the workforce in the midst of the economic recession, marriage was simply off the table for most people.
As this generation became more financially secure, marriage became a reality. However, these young adults tend to have established careers or at least significant personal assets that they understand the importance of protecting. This is particularly true for women, as they tend to ask for prenups more than men. Many women now earn more than their significant others and are interested in protecting their financial interests.
Signing a prenuptial agreement does not mean that a Texas couple is destined to divorce. However, the reality is that some marriages just do not work out, so it is important to be prepared. A prenuptial agreement can play an important role in protecting a person’s personal and financial interests. For some, creating a prenup can even help improve open communication before tying the knot.