When you and your spouse decided to marry, chances are that you became a two-income household. Though some adults either cannot or choose not to work, most young adults do share in the experience of navigating the American workforce for a minimum of a few years. However, if you and your spouse have chosen to have children and you have opted to stay home with them either full-or-part time, you may want to consider drafting a post-marital agreement.
Why would you need to draft such a document simply because you have decided to stay home with your kids instead of pursuing full-time work? In order to answer this question fully, it is important to understand what a post-marital agreement is and how it can both help your marriage and protect you and your kids in the event of a divorce.
A post-marital agreement is much like a prenuptial agreement, only a post-marital agreement is drafted after a couple has married as opposed to before their wedding takes place. Much like a prenuptial agreement, a post-marital agreement can help you and your spouse explore financial expectations and values both during your marriage and in the event of divorce.
A post-nuptial agreement may help you definitively settle any marital tensions that may have arisen in regards to your financial situation since you decided to stay home with the kids. It may also help to ensure that you and your kids will be properly protected financially in the event that you and your spouse go your separate ways.
Because you are giving up at least part of your income to stay home with your children, drafting a post-marital agreement may be a very intelligent and forward-thinking approach. If you have questions about this process and how it may help your marriage and your family, please contact an experienced family law attorney.
Source: Forbes, “Why You Need A Postnup And Other Points To Consider Before Leaving Your Paid Job To Be A Stay-At-Home Mom,” Jeff Landers