During the 'Great Recession' that began in 2008, members of the millennial generation were significantly impacted. As a result, this generation appears to be more focused on career goals rather than the traditional milestone of marrying and having a family. It may come as no surprise that this generation is more inclined to seek a prenuptial agreement before they decide to marry. Colorado residents who may be interested in these contracts can seek further information.
When one hears discussions concerning a marital agreement, it may be assumed that the parties involved have considerable assets that need protection in the event of a future divorce. However, almost any couple could potentially benefit from having a prenuptial agreement in place before they exchange vows. Colorado residents do not need to be in the top percent of the income bracket in order to consider having such an agreement in place.
Budgeting for a wedding and honeymoon can place a strain on a couple's finances from the beginning. Since the average cost for both can run an estimated $30,000, it may be beneficial to both parties to have a serious discussion about financial goals in the beginning of the relationship. To that end, a prenuptial agreement may provide an opportunity for Colorado residents to discuss how they hope to handle their marital finances.
The decision to propose may seem like the most difficult one in the beginning. However, that may seem easy when it comes time to planning the wedding and handling conversations concerning finances and whether a prenuptial agreement would be appropriate. Colorado residents who are wondering whether this type of contract would be useful may benefit from seeking further information.
At the beginning of many relationships, couples often tend to tread lightly when the conversation turns to money -- especially when one is more financially stable than the other. However, if a marriage is in the plans, then it may be more beneficial to address the issue of a prenuptial agreement early in the planning. Though the idea of discussing this type of contract may be uncomfortable, it is likely that Colorado residents can do so with a little finesse and planning.
For previous generations, prenups were the financial planning tools of the wealthy. They were used primarily to protect inherited wealth, and were written to favor the moneyed spouse at the expense of his or her marital partner. In fact, there were many cases in which parents or grandparents made a prenup a condition of an inheritance. Today, however, millennials in Colorado are rewriting the rules when it comes to creating the perfect prenuptial agreement.
The landscape of the American workforce is changing, as technology fields continue to expand and grow. That has led to a plethora of startups and other ventures in the area of technology, in Colorado and across the nation. These jobs can be very lucrative, especially for the founders and those who are able to get in on the ground floor. When it comes to protecting that wealth from loss due to divorce, a prenuptial agreement may not provide full coverage on its own.
Love him or hate him, our new president has certainly garnered the attention of both the media and the nation's population. For undocumented immigrants, fears over Trump's immigration policies have led to a great deal of stress. Some Colorado couples in which one party is undocumented have decided to step up their existing engagement in order to move closer to a green card, and the resulting security that the couple will be able to remain together. That has also led to an increase in the number of prenuptial agreement consultation requests to family law attorneys.
Recent research suggests that young couples are more interested in protecting their assets prior to marriage than their parents or grandparents were. In a survey conducted by the American Academy of Matrimonial Lawyers, respondents reported a noticeable increase in the number of millennials who are drafting a prenuptial agreement prior to tying the knot. For Colorado residents who are considering marriage, it may be worthwhile to think about including a prenup in the wedding preparation process.
For many Colorado couples, the urge to wed is simply not an issue. They are perfectly content to align their lives and pursue a fully committed relationship, without the need to formalize the union by marriage. This is a totally valid lifestyle choice, but one that can have a number of financial repercussions if things do not work out as planned. Married couples can protect themselves by way of a prenuptial agreement, while unmarried couples have access to a similar contract: the cohabitation agreement.