Although many people may be familiar with pre-nuptial agreements, not many have heard of a post-nuptial agreement. A post-nuptial agreement is an agreement executed after marriage that details the couple’s property rights and expectations if the marriage should end in divorce. If you are a married, stay-at-home parent, or are married and are thinking about becoming a stay at home parent, it may be in your best interest to seriously consider creating a post-nuptial agreement that details how you will be compensated for forfeiting your highest-earning years should the marriage end in divorce. It could be beneficial because it can help form the foundation of a happy marriage. A woman’s child-rearing years are usually her highest-earning years, and when a stay-at-home parent re-enters the workforce, they will probably earn less than they did before.
By executing a post-nuptial agreement outlining how this will be dealt with should the marriage ever end in divorce, the couple will not have to work to resolve this conflict in a divorce proceeding. It is a difficult conversation to have, but having it now, when the parties have cool minds, is beneficial.
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