Real estate a top factor behind growing number of millennials’ signing prenups

A survey of lawyers say millennial couples are increasingly entering into prenuptial agreements

New York Weekend Edition /
Jul.July 07, 2018 11:00 AM

(Credit: jks Lola)

They may be late bloomers, but millennials are playing it safe and smart about assets as they tie the knot.

A survey of lawyers found that millennial couples, who are often delaying marriage years longer than previous generations, are increasingly signing prenuptial agreements with real estate and alimony being the key issues under negotiation before entering into their marriage, according to the New York Times.

In a contested divorce in New York, any assets acquired over the course of the marriage are divided between the two parties based on their contributions to the union. Even in the event that both spouses agree to split the spoils of matrimony down the middle, determining the weighting of each asset in accordance with their contribution can be a long and subjective process–as evidenced in Harry and Linda Macklowe’s recent blockbuster divorce trial.

In California and Texas, both community property states, all assets acquired during the marriage are required to be divided up 50-50.

“It’s not about what the value is today; it’s what the value is going to be in the future,” said Louis Cannataro of Cannataro Park Avenue Financial to the Times. Many of his millennial clients want to specify that future gains on an investment property will accrue to them alone, not their partnership. [NYT]Erin Hudson


Related Articles

arrow_forward_ios
Anthony "Fat Tony" Salerno and the Rhinebeck horse farm (Hudson Modern, Getty)
Rhinebeck farm once owned by mob boss lists for $1.5M
Rhinebeck farm once owned by mob boss lists for $1.5M
(iStock, Illustration by Kevin Cifuentes for The Real Deal)
Some 40 million US homes at risk from extreme 2022 weather
Some 40 million US homes at risk from extreme 2022 weather
One of the pools at the Brooklyn Tower. (TheBrooklynTower.com)
Life Time Group to manage 120,000 square feet of amenities at Brooklyn’s +1,000-foot tower
Life Time Group to manage 120,000 square feet of amenities at Brooklyn’s +1,000-foot tower
The U.S. housing market sets new record for home sales and prices in July 2020. (iStock)
Moody’s chief economist says housing correction — but not crash — is on the way
Moody’s chief economist says housing correction — but not crash — is on the way
Saratoga County Homestead (Facebook, iStock, Illustration by Kevin Cifuentes for The Real Deal)
Dilapidated New York tuberculosis hospital, vacant since 1973, hits the market
Dilapidated New York tuberculosis hospital, vacant since 1973, hits the market
From left: Alice Technologies founder and CEO René Morkos; Join CEO Andrew Zukoski (LinkedIn/René Morkos, LinkedIn/ Andrew Zukoski, iStock)
Construction tech startups Alice, Join score new commitments
Construction tech startups Alice, Join score new commitments
Brokerages take different approaches to social media ads
To automate or customize? Brokerages split on social media ad formulas
To automate or customize? Brokerages split on social media ad formulas
Yelp's Jeremy Stoppelman, Remote Work
Yelp shuttering NYC, Chicago offices after eyeing subleases for remote
Yelp shuttering NYC, Chicago offices after eyeing subleases for remote
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...