There is a common perception that millennial divorce is not as legally complex as a grey divorce, an older couple with a lifetime spent amassing joint marital property and assets. However, this is not necessarily true. According to a study conducted by The Pew Research Center, the rate of marriage is declining in the United States, with only 26 percent of millennials married. This may be because people are waiting until later in life to tie the knot. The same study found that the divorce rate is the lowest it’s been since the 1980s. Although millennials are less likely to divorce than their parents’ generation, it is still important that millennials seek legal advice.
The Millennial Mindset
Millennials are perceived as being less loyal than their parents’ generation. When we think of millennials, we do not ordinarily equate them with being conservative and traditional. However, marriage is important to millennials. Unlike preceding generations, if they know a marriage is not working, they are not likely to stay involved as they do not want to waste time. Millennials see divorce as a new beginning and an opportunity to make their life better. Many millennials may feel that they cannot afford to maintain two separate households in the event of a divorce.
Millennials are more likely to perceive prenuptial agreements as an important part of marriage. They like to plan, communicate, and evaluate all possible scenarios. Many millennials have a view of prenuptial agreements as a step toward a better marriage instead of an implied threat to control their partner’s conduct.
Millennials believe that they can avoid problems if they cohabit instead of getting married. A cohabitation agreement can be useful in this situation, particularly if there are significant assets or children involved. Even if there are no children and meager assets, this type of agreement can help couples avoid disagreements in the event of a split. If you are planning to get married or cohabit, it is a good idea to start discussing things with your partner as soon as possible. Speak to an experienced family law lawyer to learn the laws in your state, as they apply to common law marriages, cohabitation, and property division.
Towson Divorce Lawyers at Huesman, Jones & Miles, LLC Have Extensive Experience With All Types of Family Law MattersThe experienced Towson divorce lawyers at Huesman, Jones & Miles, LLC can provide millennials with advice on prenuptial agreements and cohabitation agreements. We take a practical approach in advising our clients, and are always sensitive to their bottom line. With offices located in Hunt Valley and Towson, Maryland, we represent clients throughout Baltimore County, Harford County, Carroll County, and Howard County, including Bel Air, Columbia, Essex, and Towson. Learn more about our services and schedule a free consultation by calling us at 443-589-0150, or fill out our convenient online contact form.