4 Reasons Millennials Need a Family Lawyer
When you first think of family law, it might seem a bit intimidating or maybe even unnecessary. Millennials are the up and coming generation, and if anyone needs to know about family law, it’s this age group. As a whole, Millennials are between 24 and 39 years old, which covers a wide range of needs in the family law department. Here are four reasons why millennials need family law, and even more so, a family lawyer at the Lake of the Ozarks.
In 1980, the average age for first marriages was 22 for women and 25 for men, however, in 2017, the numbers changed to 27 for women and 29 for men. This means that millennials are taking longer to marry if they marry at all (an estimated 25% of millennials are likely to never marry). This could be because they are cohabiting before marriage (a sixfold increase from their parent's generation), or just taking their time to find the right partner, either way, millennials have different priorities from previous generations. One very interesting study showed that some couples are even buying homes together before getting engaged, which just solidifies the need for family law to be involved early and often in a millennial’s life.
1026 Palisades Blvd. Suite 3
Getting To Know Millennials
A big portion of family law is centered around marriage, relationships, and the people and things that come from that relationship. This means that it’s important to know how millennials are handing and approaching their relationships if you want to know why family law is so important for them.In 1980, the average age for first marriages was 22 for women and 25 for men, however, in 2017, the numbers changed to 27 for women and 29 for men. This means that millennials are taking longer to marry if they marry at all (an estimated 25% of millennials are likely to never marry). This could be because they are cohabiting before marriage (a sixfold increase from their parent's generation), or just taking their time to find the right partner, either way, millennials have different priorities from previous generations. One very interesting study showed that some couples are even buying homes together before getting engaged, which just solidifies the need for family law to be involved early and often in a millennial’s life.
Why Millennials Need a Family Lawyer at the Lake of the Ozarks
With the unique position millennials are taking on their relationships, we’re finding that family law is just as important for them, if not more so. Here are four reasons millennials need a family lawyer, and why O’Donnell Law Center in Osage Beach, MO is here to help.1. Property Division Issues
An interesting trend among millennials is rooted in their bank accounts. The Bank of America showed that 28% of newly married couples are choosing to maintain separate checking and savings accounts from their new spouse. Compare this to the 13% of couples who chose to do this in the previous generation. The 28% who chose separate accounts opted for a “mine, yours and ours” style of savings and checking, and the idea is rooted in the idea that the separate accounts will remain “separate” in case of a divorce. Missouri is a “dual-property” state, meaning that your property is split into “marital property” and “non-marital property”. “Marital” property is all property that is acquired by either spouse during the marriage, and while there can be some exceptions, they can be difficult to analyze on your own. Having your family lawyer in Osage Beach, MO who can break down the details can be crucial if you are going through a divorce.2. Cohabitation Prior to Marriage
Cohabitation among millennials makes up a large portion of relationships. In fact, it is estimated that more than 8 million couples in the US are cohabiting, and it may not ever end in marriage. One interesting thing to note, however, is that cohabitating couples do not benefit from certain legal rights converted by marriage. These rights may include the right to divide property, allocate certain debts, receive spousal support in the even to a break-up, file joint tax returns, as well as receive certain employment and health benefits. There are some workarounds, however, and more and more unmarried couples are choosing to enter into cohabitation agreements, which expressly secure some of these omitted rights and benefits in a private written contract agreed to by both partners. There are many aspects of cohabitation that can affect millennials, so it’s important to speak with a family lawyer to make sure that you are both being represented through these decisions.3. Child Custody & Visitation Issues
When you look at the statistics, millennials have a higher success rate in their marriages compared to previous generations. However, one thing to take into consideration is that many millennials are choosing not to get married at all, but are rather cohabitating, even with children in the mix. Separations can become much more emotional when there are minor children involved. From joint and legal custody, shared custody, visitation schedules, and child support payments, all of these details will need to be arranged. Having a child custody lawyer at the Lake of the Ozarks will be essential.4. Prenuptial Agreements
“Prenups” are becoming an increasingly popular choice amongst millennials. In fact, millennials are more likely to seek a premarital agreement than their parents and grandparents, specifically due to their age and status at the time of their marriage. Because many millennials are marrying later, they more than likely have more debts, established careers, potential real estate, established retirement savings, and more. Millennials are also more likely to expect divorce because more than one-third of millennials were raised by single or divorced parents and have seen what a painful dispute can look like. If you are a millennial and you are getting married in the coming months, now is a great time to get a prenuptial agreement at the Lake of the Ozarks, and O’Donnell Law Center is ready to assist.
Looking for a Family Lawyer at the Lake of the Ozarks?
O’Donnell Law Center knows that it can be challenging to navigate the legalities involved with family law. It’s more important than ever that millennials touch base with a lawyer to make sure that they have covered their bases, and are prepared for whatever the coming years will bring. Millennials are facing completely different situations than previous generations, and more than ever, having someone who can explain the legal reasons behind your choices is essential. If you are ready to sit down with a family lawyer at the Lake of the Ozarks, O’Donnell Law Center is here to help. Visit our website to learn more about our law center at the Lake of the Ozarks, or give us a call at the number below to schedule an appointment.
We Carry Your Burden ~ You Carry On With Life.
Disclaimer: No attorney-client relationship is created by the publication of this blog.
The choice of a lawyer is an important decision and should not be based solely on advertising.
Phone: (573) 552-0317
O'Donnell Law Center, LLC
Osage Beach, MO 65065
Comments
Post a Comment