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."
According to a new report from the ECMC Group, only 48% of high schoolers are considering attending a four-year college. That number is 23% points less than it was in May 2020. After being forced to study remotely from home due to the pandemic, a number of Gen Z are thinking of other alternatives to a successful career. CEO and President of the ECMC Group Jeremy Wheaton, joined Cheddar to discuss more.
In an upcoming new series on Fuse, activist and actor Amara La Negra is taking viewers along with her on the streets of Miami to break down some of the hottest issues in America. The new show 'Don't Cancel Me' will follow a round table format and focus on topics including parenting, colorism, sex and relationships, and so much more. She joined Cheddar's None Of The Above to discuss more.
a.k.a Brands, an accelerator for next-gen, direct-to-consumer fashion brands like Princess Polly, released its first earnings report as a publicly-traded company with strong results. CEO Jill Ramsey joined Cheddar's "Opening Bell" to discuss the company's recent quarter and how the company has grown since its IPO in September.
Wood modification technology company Kebony recently raised $34 million in its latest funding round. The company's patented technology transformed sustainable softwood using leftover materials and makes it into a product that behaves like premium hardwood. The process has the potential to transform the global construction industry, as it is cost-effective and eco-friendly. Kebony CEO Norman Willemsen joined Cheddar News' Closing Bell to discuss.
Lito MC Cassidy, a nominee for Best Rap/Hip Hop Song for his song 'La Vendedora De Placer,' joins Cheddar News to discuss his Latin Grammy nomination and his return to music.
After a year hiatus due to COVID, the LA Auto Show is back in-person from November 19-28. The event will feature automakers from around the world as they introduce their latest concepts and production vehicles. David Fortin, head of consumer marketing for the LA Auto Show, joins Cheddar News to preview the event.
"Anything Is Possible," a documentary about NBA superstar Kevin Garnett recounting his career from being drafted out of high school to a championship with the Boston Celtics, is set to premiere on Showtime. Executive producer Marc Levin and co-directors Daniel Levin and Eric Newman joined Cheddar to provide some background on the project and discuss Garnett's legacy. With KG considered a pioneer for modern NBA draftees straight out of high school (the fifth pick in 1995), the filmmakers also discussed the possibility of the league reversing course on its current rule that requires a player to be at least 19-years-old and a year removed from high school to play.
