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How to Plan For Your Divorce In Advance

Millennials are using prenups to address economic and social issues through a Very Different Lens Than in the Past

The stigma or taboo that used to be associated with discussing money [and nearly everything else including divorce] before marriage is slowly disappearing.

“They don’t want to co-mingle their money; they want to live like financial roommates,” says Steven M. Resnick, a family law attorney with Ziegler, Resnick and Epstein in Livingston, N.J., who practices in New York and New Jersey.

This mind-set change is even true for clients who don’t have significant assets to protect going into the marriage, lawyers say. Some millennials want to keep their finances—current and future—separate and businesslike, which would allow them to leave a marriage, if necessary, without many strings attached.

“You’re effectively negotiating your divorce agreement in advance in a way that’s more egalitarian than before,” said Attorney Jacqueline Harounian.

Student Debt, Pets, Embryos, and Social Media

Part of what's happening is related to student and credit card debt.

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Frequently one partner has far more debt than the other.

Frozen embryos and pets are also in the picture. Millennials discuss everything, including visitation rights for dogs and cats. 

What about social media?

Yep, that too. In case of divorce they don't want their ex to say nasty thing about them on Facebook.

The terms for divorce are thus effectively written in advance.

Mish