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Prenups are getting popular with millennials

In general, North Carolina couples are getting married later in life than they used to. When people in the millennial generation tie the knot in their 30s, they may have already accumulated some valuable financial assets. At the same time, many newlyweds have family wealth that they would prefer to keep separate from marital property.

Prenuptial agreement scan help spouses to keep their personal assets separate from their marital property. Though some people are uncomfortable talking about the possibility of divorce or death, the prenup conversation is becoming more common. According to a survey conducted by the American Academy of Matrimonial Lawyers, 51 percent of the responding attorneys said that they have noticed that more millennials are getting prenuptial agreements.

One of the main reasons people get prenups is that they have business assets they want to protect. Although in most cases a court will treat the appreciation in the value of a business that occurred during marriage as marital property, a prenup can allow people to categorize that growth as separate property. Prenups can also separate a spouse’s family wealth from marital property so that it can remain on one side of the family.

Prenuptial agreements are at bottom contracts, and thus they are subject to general contract law principles. For example, such an agreement that was signed on the eve of a wedding could be subject to challenge at a later date if the person who is mounting the challenge claims that it was signed under duress. As a result, family law attorneys will counsel their clients to make sure that such an agreement is negotiated and entered into well in advance.

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