Prenup Generation: Millennials Drive Surge in Prenuptial Agreements
*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."
Detavio Samuels, CEO of Revolt, joins Cheddar News to discuss the importance of Black media, and give insight from cultural leaders about climbing to the top of their industries.
Stories of survivors emerge from Turkey and Syria earthquake, new allegations against officers who killed Tyre Nichols, and Texas sues over abortion bill guidance. Here is everything you Need2Know for Thursday, February 9, 2023.
Children are taken to a warming bus as parents wait for news after a bus crashed into a day care center in Laval, Quebec, on Wednesday, Feb. 8, 2023. (Ryan Remiorz/The Canadian Press via AP)
High school wrestler, Joe Salmon was ice fishing when he saw 83-year-old Thomas Lee and his dog Cooper's vehicle crash into the ice. The 17-year-old sprung into action to save the pair, pulling them out of the vehicle before help came.
Cheddar News' Shannon LaNier spoke with owner Kiahna Malloy of Kreme & Krumbs, a Black-owned ice cream shop in Montclair, New Jersey, about why she got into the business.
Support pours in for Turkey and Syria earthquake support, a fire broke out during a United Airlines flight, and more officers are expected to be charged in the beating death of Tyre Nichols. Here is everything you Need2Know for February 8, 2023.
