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Young adults, too, can have much to protect entering a marriage

On Behalf of | Oct 13, 2016 | Divorce

When it comes to a discussion of things like protecting assets or equitably dividing property in a high-asset divorce, the relevant demographic is often denoted as the baby boomer crowd.

That is understandable, of course, given that it takes time — sometimes decades — for individuals and couples to accumulate material assets and actually have something financially related to talk about during divorce negotiations.

It would be remiss, though, to assume that it’s generally just seasoned married couples contemplating a divorce that have significant property-related concerns in the dissolution process.

In fact, and as we note in an article on our website at The Law Offices of Lisa A. Ruggieri, P.C., in Wellesley, couples decades younger than boomers, too, can have material concerns regarding the safeguarding of wealth and assets brought into a marriage.

One prominent reason for that these days is that many so-called Gen Xers and Millennials are marrying at far older ages than was typically the case in prior generations. Reportedly, both men and women are currently tying the knot about six-seven years later than was customarily the case back in the 1950s.

And that is a truly meaningful difference in the context of family law, marriage and divorce, given that those extra years prior to marriage can easily allow for a great deal of asset accumulation.

Younger adults now entering marriage often do so with significant savings in various bank and investment accounts and money piled up in company-sponsored retirement vehicles. Some of them might have already purchased a property and/or established a business/professional practice.

It is far from remiss for a younger person about to enter marriage to think about safeguarding separate property and protecting against the high-debt obligations of a partner.

Much can be done to promote those objectives, including the careful drafting and execution of a prenuptial or postnuptial agreement.

We note in the above-cited article that, “Arguably, the most important step toward protecting assets during a divorce is finding the right legal counsel to represent your interests.”

Fundamentally, that means a proven attorney commanding extensive experience representing family law clients in property division matters.

We welcome readers’ contacts to our firm to discuss asset-protection and related issues.

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