Millennials are 10 times more likely than baby boomers to get a prenup, according to a new survey from LegalShield. Prenups are becoming increasingly popular with the younger generation as they navigate different financial circumstances than their elders. Notably, 77 percent of those with student debt said they would consider a prenup, according to the report.
### Why It Matters
Prenups have traditionally been a way to protect financial assets when entering a marriage in case of divorce. In recent years, they’ve become more common among everyday people rather than only those with large business or investment interests.
As more financial transparency takes hold in this generation’s romantic relationships, prenups could make a significant impact on personal finances in the long term.
### What To Know
The LegalShield report found that couples with student debt were six times more likely to have a prenup. Additionally, 54 percent of those with student loans would actually get a prenup to protect their partner from debt.
This suggests younger generations are especially interested in getting a prenup, reflected by survey findings that millennials sign prenups at 10 times the rate of baby boomers. Roughly 39 percent of millennials have a prenup, compared to just 4 percent of baby boomers. For Gen X, the number is 37 percent, while just 26 percent of Gen Z couples have a prenup.
Student loan debt could play a major role in this trend as Americans carry nearly $2 trillion in student debt, with $500 billion added in the past decade alone.
“While marriage is usually based on love, it is now defined by debt,” said Warren Schlichting, CEO of LegalShield. “Prenups have become essential protection for young couples facing heavy financial burdens due to the student debt crisis.”
Overall, 50 percent of Americans view prenups as a form of protection, and nearly one-third now enter marriage with more debt than savings.
On the HelloPrenup platform, the average age of marriage is 37, meaning most couples already have meaningful assets, debt, and careers before they walk down the aisle, according to Julia Rodgers, CEO of HelloPrenup.
“They also view marriage fundamentally differently than previous generations,” Rodgers told Newsweek. “Instead of seeing it as an automatic merger of everything, they see a partnership between two whole people who each bring their own financial life, goals, and responsibilities.”
“Millennials are pragmatic, financially literate, and far more open to planning than generations prior ever were, treating prenups not as a prediction of divorce but as a healthy conversation about expectations and long-term stability. And layered on top of this is the largest intergenerational wealth transfer in history, over $80 trillion passing from boomer parents to their millennial children, which makes it even more important for couples and families to protect inheritances and financial gifts.”
### What People Are Saying
Rebecca A. Carter, a LegalShield provider lawyer with Friedman, Framme & Thrush, PA, said:
“Some people still think a prenup is a sign of mistrust, but it’s really an act of transparency. Many simply don’t want their spouse to pay for their past debt mistakes. Prenups create space for honest conversations and financial clarity before marriage.”
Julia Rodgers, CEO of HelloPrenup, added:
“As prenups become normalized among millennials, we’re watching the structure of modern marriage evolve into something more intentional and financially equitable. Couples who discuss money upfront tend to communicate better throughout their marriages, and when divorces do occur, they are often far less adversarial because expectations were aligned from the start.”
“Families feel more secure passing assets to the next generation, knowing those inheritances and gifts are protected. Women, in particular, benefit from clearer financial boundaries and protections as gender roles and income dynamics continue to shift.”
Steven Goldfeder, partner and co-chair of Blank Rome’s Matrimonial & Family Law Practice Group, shared:
“Prenuptial agreements used to be most prevalent with people getting married for a second or third time, who had already divided their assets with a former spouse and had no intention of going through that again. Now, I see many more young people getting married for the first time and insisting on prenuptial agreements.”
“Often that is done to protect inheritances, family trusts, or gifts from wealthy parents in the event of a divorce. It is also much more common that young people are coming into a marriage having started a business of their own.”
### What Happens Next?
The rise in prenuptial agreements is likely to protect many Americans from their partner’s debt in the long term, experts say.
“With record amounts of student loan and credit card debt weighing heavily on many younger Americans, the financial transparency a prenup provides could be viewed as a good thing before marriage,” said Alex Beene, a financial literacy instructor for the University of Tennessee at Martin.
“Such a legal protection would signal to a partner that if there is a future falling out, they would be protected from being on the tab for debts acquired prior to marriage.”
https://www.newsweek.com/millennials-are-10-times-more-likely-than-baby-boomers-to-get-a-prenup-11050556
