How are divorce patterns changing with the Millennial generation?
Divorce rates and the circumstances surrounding divorce tend to shift with each new generation. As more millennials are getting married, and divorced, divorce lawyers in Texas and elsewhere across the nation are noticing some distinct trends among today’s generation when it comes to divorce. Millennial divorces may not involve as much property or debt to divide, but they nonetheless require the assistance of a skilled divorce lawyer.
Millennials Are Delaying Marriage
Marriage patterns have a direct influence on shifting divorce trends. Millennials are getting married and starting families later than previous generations. Whether it be due to the fluctuating economy, staggering student loans, or simply changing cultural norms, more Millennials are putting off marriage in favor of focusing on their careers. This has led to fewer divorces overall than in previous eras.
Millennials More Likely To Have Prenups
For many Millennials, prenups are part of the normal discussion that takes place before marriage. Many Millennials came from homes with divorced parents. As such, Millennials tend to enter into marriages with a realistic outlook as to the possibility of divorce. Millennials often protect themselves against the dangers of losing their property in a divorce through the use of prenups.
Millennials Favor Cohabitation
While many Millennials are waiting to tie the knot, this has not stopped them from living with a significant other. Cohabitation has become quite common across the country. Texas is one of the few states that recognizes common law marriage, though being considered married under common law will require more than just living together.
To protect yourself if you are cohabitating with a significant other, you could consider entering into a cohabitation agreement. In the agreement, you can specify that you do not intend to have a common law marriage and you can set out what assets you share, along with a plan for splitting said assets if the relationship dissolves.
Divorce trends will likely continue to shift in the coming years. Millennials should consult with a family law attorney for assistance with a prenuptial agreement and other protections prior to marriage. Millennials considering divorce can retain the guidance of an experienced divorce lawyer to help them come through the divorce unscathed.