A prenuptial agreement is a popular document used by many couples before entering into a marriage. Postnups are also getting increased popularity for Florida spouses who got married before having a pre-marital agreement. A postnuptial agreement can protect spouses' financial interests in the event of a divorce.
A postnuptial agreement operates just as a prenup and outlines expectations for each spouse and their rights to property, with the exception that it's signed after the parties are already married. It's vital to have one of these agreements drafted up, particularly for those who wish to become stay-at-home parents. Being a stay-at-home parent can be rewarding, but it can also come with financial drawbacks since no income will be received.
This also affects future earning capacity and can set someone back on their professional skill-set if they decide to get back in the workforce. It's recommended that these parents work at a part-time job so they can remain current. Generally speaking, 50 percent of the marriages in the United States end in divorce. Even if a couple thinks they have the perfect marriage, the possibility of divorce is real.
The thought of divorce can be a nightmare for some Florida couples. Postnuptial agreements can protect a stay-at-home parent's future just in case the marriage ends. Remember, someone who decides to be a stay-at-home parent is giving up their earning ability during that time frame. It's important to keep up to date on applicable state laws in regard to postnuptial agreements in order to ensure financial security.
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, Jan. 22, 2014