"The latest trend in prenuptial agreements shows that millennials might favor protecting what's in their head over what's in their wallet," according to Bloomberg. That is right. No shortage of those born after 1980 and before 2000 are seeking prenups to protect their intellectual property - think: copyrights, trademarks, trade secrets, and patents - in light of a split.
Prenups for millennial clients - who are particularly attuned to divorce rates - have been on the rise for several years, Buchanan Ingersoll & Rooney attorney Barry Slotnick, says. But instead of focusing on alimony and inherited cash, "prenups requested by millennials aim to protect intellectual property such as films, songs, screenplays, software, apps, and even ideas for technology concepts yet to be executed," per Bloomberg.
"I think there's a heightened focus on the creation of something, whether that's in the form of intellectual property or a business that they would establish in the future," says Michael Mosberg, a partner at Aronson, Mayefsky & Sloan, LLP, a family law firm that has also seen more millennials seeking prenups over the last five years. "They want to protect that idea."