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Addressing post-divorce income gap through a marital contract

On Behalf of | Dec 31, 2013 | Firm News, High Asset Divorce

Many Arkansas women worked hard to secure impressive jobs and careers prior to marriage, only to forgo the employment track subsequently to stay at home and have children.

A typical outcome in such cases is that, while those women raised the kids, their husbands continued to work outside the home, improving their job skills, cultivating their job contacts, earning promotions and remaining viable in the work place.

That is obviously not the case for child-rearing women who sacrificed careers. On the one hand, their efforts result in family formation and growth, while on the other hand and pursuant to accomplishing that objective, their careers stall and they forgo earning income outside the home.

More of them should probably be thinking about that, at least in terms of contemplating the execution of a postnuptial agreement to address the diminishment of that earning capacity.

So says author Ann Crittenden, who calls the money that such women lose while staying home for years a “mommy tax” that is seldom ever earned back if a women seeks to reenter the work force following a divorce. The passage of time has dulled the luster on her resume and eroded job skills. Conversely, and while her marriage was intact, her spouse retained his viability in the job market.

That discrepancy should often be addressed and resolved, say Crittenden and other media commentators, through execution of a legal contract. Such a contract — whether a prenuptial agreement before marriage or a postnuptial contract following marriage — ensures compensation for a divorcing woman who has forfeited years of income and relevance in the work force to raise a couple’s children.

An Arkansas woman who would like to know more about marital contracts can receive candid and confidential advice from an experienced Little Rock family law attorney.

Source: The Daily Beast, “Why stay-at-home moms should demand postnuptial agreements,” Keli Goff, Dec. 3, 2013

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