Thinking of a Prenup? You Go Girl

If Beyonce says it, you know it’s true––Who Runs the World? Girls. She’s got a point, women in the United States have professional, academic, and political opportunities that their great-grandmothers couldn’t even imagine. 

Women earned the majority of doctoral degrees in 2020. They outnumber men in graduate school 148 to 100. Women made up 54.09 % of law students and 53.7 % of medical school students in 2020. They are CEOs and entrepreneurs and political leaders.

Successful careers means more accumulation of personal wealth. It means many more women being the breadwinners of their families. It can translate into the woman paying the man spousal support in the case of divorce, something that would have been unheard of not too long ago.  

New York women who are thinking of getting married should seriously consider getting a prenuptial agreement. You’ve worked hard to get where you are professionally. It’s smart to make provisions to protect your assets just in case things go off course.  

Why A Prenup is a Smart Move for New York Women

A prenuptial agreement is a contract signed by future spouses before they are married. Typically, they address how property will be divided in case of divorce. Assets like your bank account, brokerage accounts, 401(k), stock options and real estate. They can also cover the issue of  spousal support to  be paid after the marriage. 

For instance, a prenup can be used for the future husband to waive his right to alimony entirely.  Or, it could set out that upon divorce, the woman would pay her soon to be ex a specific amount of money, and that would be all he gets. There are lots of options. An experienced New York divorce lawyer will help you decide what provisions work best for you.

Don’t Want to Pay “Manimony?” Consider a Prenup

For married couples, data shows that around 28% of women who are married to men earn more than their husband. Also noteworthy in today’s world is that more dads are staying at home with the kids. In 2016, dads made up 17% of all stay-at-home parents. 

The times have changed indeed. Women didn’t used to work outside of the home. Being a stay at home dad wasn’t a viable option until recent years. A woman paying her husband alimony? Hard to fathom. Asking for a prenup? Once a taboo topic, it’s something that more and more smart and savvy couples are considering. 

For many women, the concept of paying spousal support, or “manimony” to their husbands is not an appealing option.Yes, biology necessitates that women bear the children which can be a physically and emotionally taxing endeavor. And even when household duties are shared, oftentimes the woman takes on a greater share of the child rearing and household running responsibilities. It’s not surprising that some women may say, I bore the kids, I run the house, and now I have to pay you too?

If there is no prenup in place, New York courts will consider several factors when determining how much maintenance will be paid and for how long. The factors can include:

• How long the couple was married
• Each spouse’s income, property holdings, and their share of the  marital property as divided by the court
• Their respective ages and health status
• Their earning capacity at the time of divorce and in the future

What if you make more money than your spouse, and he cheated on you and that’s why you want to end the marriage? In New York, without a prenup you still may end up paying him spousal support. That is not an optimal outcome by any stretch of the imagination.

You are smart, hard-working, and have some assets to show for it. If you don’t want to bring home the bacon, fry it up in a pan, and then hand it over to your ex, give serious consideration to getting a prenuptial agreement.