Baby boomers are aging and looking toward a historic generational wealth transfer to their millennial children. This has led not only to an uptick in prenuptial agreements, but an increase in parental involvement in those very negotiations, according to an article on worth.com.
Theoretically, affluent parents getting involved in a prenup could create friction in their child’s relationship. However, the article claims that parental involvement can sometimes diffuse tension and lessen the pressure on the new couple, particularly if the future spouse is already aware of significant family wealth or other assets.
The concern of parents is certainly understandable when a substantial inheritance is on the table, and – to the benefit of their child – they can contribute negotiating power to the process as the source of the assets. However, parental involvement can also be problematic if they try to undermine their child or the process or fail to disclose certain assets, which could ultimately limit enforceability.
In the end, a fairly discussed, effectively drafted and amicably signed prenup can be a positive experience for all.
If you (or your parents) would like to discuss creating a prenuptial agreement, an experienced matrimonial law attorney can help. Contact the Albany divorce and family attorneys at LaClair & DeLuca. Call us at (518) 650-8861, or email firstname.lastname@example.org.