Georgia couples who make the choice after they are married to have one spouse stay home to raise the kids too often overlook the importance of a postnuptial agreement. Choosing to raise one’s children is indeed a positive thing but it can come with a price – literally.
Daily Worth indicates that a study by the Institute for Women’s Policy Research indicates that both men and women can expect significant salary drops just by taking even one year away from the workforce. In fact, men’s salaries drop by even more than women’s. After two to three years of not working, a man can expect to earn roughly 35 percent less than he did before taking the time off. A woman can expect a drop of about 30 percent.
According to Forbes, the challenge is not limited to the reduced earning power. Couples generally have and raise children during the years that would simultaneously be their prime career-building years. Because of this, parents who stay home with their children miss out on the important momentum of advancing their careers through networking and staying up on new technologies, processes and market changes as they happen. All of this contributes to a person’s marketability when eventually looking for a job again.
Without the ability to rely on alimony as prior generations may have been able to, spouses should consider a postnuptial agreement as a way of protecting them in the event of a future divorce before they quit their jobs. A postnup does not guarantee a divorce later on but can be a huge asset to the stay-at-home divorcing spouse.