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Millennials increasingly seek to protect intellectual property in prenuptial agreements, P.1

Prenuptial agreements can be a very useful protection for couples, allowing them to take control over how their assets will be divided in the event of future divorce. Without a prenuptial agreement, of course, a couple’s property is divided according to established state law.

In New York, courts divide property according to the approach known as equitable distribution, which does not involve an even split between the parties, but rather a just and fair division. Courts weigh a variety of factors when determining how dispose of property and debts in divorce. Again, though, prenuptial agreements give couples the ability to control how assets and debts will be divided in divorce. 

Prenuptial agreements can be used not only for property division, but also to establish how assets are to be managed during the marriage, how assets are to be disposed upon the death of a party, how or whether alimony will be awarded in the event of divorce, and various other matters as well. An interesting piece in the Boston Globe looked at how younger couples are increasingly using prenuptial agreements to protect intellectual property in the event of divorce.

The intellectual property young couples are concerned about include things like: software, apps, films, songs, and new ideas for technology. Young couples do, of course, still protect themselves from losses of real estate and other traditional assets, but the importance of intellectual property is marked. It says something about where young couples place their value.

In our next post, we’ll say more about protecting intellectual property with a prenuptial agreement, and why it is so important to work with an experienced attorney when negotiating and executing such an agreement.

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