*By Samantha Errico and Kate Gill*
Millennials have been dubbed the "entitlement generation"; they may also be the prenup generation.
According to Anne Cochran Freeman, a divorce lawyer and partner at Sideman & Bancroft, that "entitlement" translates to a desire for protection ー which may have contributed to a rise in prenuptial agreements by a factor of five over the last 20 years.
She said an early entrepreneurial spirit among many in the millennial generation also contributes to this trend. Entrepreneurs who dream up inventions or business plans before marriage may want to protect their ownership of those ideas after marriage.
"Everyone has a business idea, and people are in college creating these billion dollar businesses," she said.
Freeman said prenups also carry less stigma for millennials.
"\[Millennials\] are used to protecting themselves and they speak really frankly about things," she told Cheddar Thursday.
She said that having pragmatic conversations early in a relationship can eliminate the taboo and clarify expectations. Partners should ask frank questions, such as: "This business idea: Is that yours or do you want me to work on it? Do you want me to leave my job in order to work on that with you?"
To Freeman, prenups can set the tone of a union and create expectations for "the kind of marriage you want to have."
On this episode of ChedHER: Ooshma Garg, CEO of Gobble and Sunbasket, breaks down how she found her entrepreneurial spirit, and gives advice for successfully scaling and growing a business; Chastity Lord, President and CEO of the Jeremiah Program, explains how she's disrupting the poverty cycle for single moms and their children; Dina Grilo, Vice President, DEI Lead for Office of Disability Inclusion at JPMorgan Chase & Co., explains how the firm is encouraging women with disabilities to seek office; Jess Berger, Founder and CEO of Bundle x Joy, talks about her $1 million seed raise that made her the first Latina in the pet care space to raise that amount.
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