Wait, Cohabitate, Negotiate: The Millennial Approach to Marriage
The oldest Millennials are now older than 40 years old, and even the youngest members of this generation have entered their late twenties. With these Americans now well into the typical marrying years, we have a good idea regarding their approach to the institution of marriage. Trends in millennial marriage reflect other societal changes and also should have a significant effect on how divorces are handled when some of these spouses choose to go their separate ways.
Some of the most prominent trends associated with millennial marriage include the following:
- Waiting longer to marry — Median marriage ages in the United States are now 30 for men and 28 for women. On the average, brides and grooms are six years older than they were in 1980. Accordingly, most people have been in the workforce for several years by the time they wed. Should the couple choose to divorce at some point, this could limit or eliminate a potential alimony award, because the requesting spouse has sufficient career skills and experience to support themselves.
- Living together before marriage — As the social stigma regarding cohabitation prior to marriage has subsided, many couples see living together as a practical test run before heading down the aisle. Sharing a home might also have financial benefits. But whether partners pool their money on a new residence or one moves into the other’s place, difficult questions could arise about marital versus separate property if the couple marries and later divorces.
- Negotiating a prenuptial agreement — Prospective spouses who own a home or want to safeguard other assets have strong motivation to negotiate a sound prenuptial agreement. A majority of polled attorneys reported increased interest in marital agreements among millennials. In addition to the desire to protect themselves financially, younger people who have lived through shocks such as 9/11 and the COVID-19 pandemic might be cognizant about being prepared for unexpected events.
Whether you’re a millennial facing divorce or someone from another generation seeking an attorney who can advise on the latest developments in New York law, you can turn to Bryan L. Salamone & Associates, P.C. Our firm can answer your questions regarding alimony, property division, prenuptial agreements and other important issues. Please call 1.631.479.3839 or contact us online for an appointment to discuss your particular situation and concerns.