Dallas-Family Law Attorney Shares Why Prenups are the Most Popular Wedding Trend Amongst Millennials
Dallas, Texas – (July 3, 2019) – Wedding season is here, but before millennial couples celebrate their big day, they are signing prenuptial agreements. According to a recent study by the American Academy of Matrimonial Lawyers, there has been a 51 % increase in the total number of millennial clients seeking a prenuptial agreement. The legally binding contract signed by each person before they marry covers financial issues and the future of assets in the event of a divorce.
“Clients should treat a prenup like an insurance policy — you hope you’ll never need it, but you are happy to have one when you do,” says Kris Balekian Hayes, president of Balekian Hayes, PLLC. “If anything, a prenup starts the difficult conversation about how money should be managed during a marriage. Discussing money is key to the success of a happy marriage because finances are often a common cause of stress in relationships.”
Because millennials are waiting longer to get married, most have accumulated their own assets before they decide to tie the knot, or conversely, large sums of student loans. A signed contract in place before walking down the aisle can give couples a sense of security and will reduce the risk of expensive litigation down the road. Prenups are designed to protect each partner’s current assets, as well as protect spouses from shouldering the burden of their partner’s debt in the event of divorce.
One of the greatest benefits of a prenup is the ability for the couple to dictate how they would like to divorce instead of the court. Most state divorce laws are no longer applicable if a prenup is in place.
If a couple is interested in moving forward with a prenup, it’s essential to start the process as early as possible. When asking for a prenup, spouses should consider the feelings of their partner and be straightforward about why they want to proceed with a prenup. Prenup etiquette, suggests that the partner who is asking for the prenup pays for both lawyers – each partner will need to be independently advised in order of the document to be valid. Most importantly do not present a prenup right before the wedding.
About Balekian Hayes:
Founded in 2009 by Kris Balekian Hayes, the family law attorneys of Balekian Hayes PLLC are dedicated to fighting for their clients and their clients’ children. From contested divorces, to child possession disputes, to out-of-court mediation and arbitration proceedings, the firm provides the knowledge and expertise needed to help people during what can be one of the most stressful times in their lives. To learn more about Balekian Hayes, visit https://www.bh-pllc.com/.