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I am a stay-at-home mom – do I need a postnuptial agreement?

Getting married may afford you the opportunity to stay at home in New York to raise your kids and manage the household. However, before you take on that new role, you and your spouse should sign a postnuptial agreement. Taking such action will give you the ability to protect yourself financially later on in a divorce, and according to TODAY, a postnuptial agreement may even help you with your marriage relationship

To make it easier for you and your husband to work out the details of your postnuptial agreement, it is important to consider the fact that you may not be able to get the same type of job later on, due to the amount of time that has gone by while you raised your children. Therefore, you should calculate how much money the amount of care that you are providing for your children is worth and the amount of income you are sacrificing while you are a stay-at-home parent. Keeping these things in mind will help you clarify your expectations for financial compensation when you create the contract.

Along with a prenuptial agreement in place, your marriage can have a stronger foundation with a post-nuptial agreement. This is because it will generate discussions between you and your spouse about how to manage your family’s finances if you decide to leave your job to become a stay-at-home parent. Even though you are a parent and not a childcare provider, your time and efforts are still worth something in a marriage and a postnup can ensure you will be compensated appropriately for the time and work you dedicated to your family. This information is only intended as educational material and should not be used as legal advice.

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