Although most Americans have heard of prenuptial agreements, the less common postnuptial agreement is gaining traction among recently married couples. In fact, postnuptial agreements can be particularly useful for parents who decide to quit their jobs and stay home with their children in Maryland. In the past, stay-at-home parents had few financial options if they had not agreed to a prenup before the marriage began. Now, though, a variety of different options help protect stay-at-home parents who were previously the victim of poor property division policies and paltry spousal support.
Many moms and dads happily stay home with their children because of a joint agreement with their spouses. In fact, staying home with the children may actually seem financially advantageous because child care is no longer a considerable cost. If the Maryland marriage is dissolved, however, spouses may not be fully compensated for the fact that they left their best earning years in the workplace to stay at home with the kids. So, what can the postnuptial agreement do for stay-at-home moms and dads who are attempting to re-enter the workplace? Here are some reasons to consider a postnuptial agreement within your marriage.
First, it may not seem that discussing a postnuptial agreement would actually be beneficial for your marriage, but it can be true. Simply discussing finances can improve your relationship with your spouse, and drawing up a postnuptial agreement can even help you determine if it makes financial sense for you to stay home in the first place. Postnuptial agreements are critical because most men and women who stay at home sacrifice their prime earning years, which prevents them from reentering the workforce with the gusto they previously enjoyed. Postnuptial agreements help protect those spouses by delineating the specific financial compensation that will be awarded during a divorce. These agreements can be particularly important because stay-at-home parents who re-enter the workforce probably will earn less than they were able to during the initial stages of their careers.
Those Maryland couples who are interested in drafting a postnuptial agreement may benefit from consulting a qualified family attorney, who can help them learn more about their legal options, responsibilities and rights. Many stay-at-home parents can genuinely benefit from the provisions included in a postnuptial agreement after a divorce.
Source: Today.com, “Do stay-at-home moms need a ‘postnup’?” Jeff Landers, Dec. 18, 2013
