January 13, 2011
Prenups for Career Women?
More working women are demanding prenups. Seventy-three percent of divorce attorneys report an increase in prenuptial agreements during the past five years, with 52 percent seeing an increase in women initiating the requests, according to a recent AAML poll.
"As women become more successful, the tables turn," Amy Weil, partner at The Weil Firm, tells PINK. "Divorce is so prevalent, and with more women becoming the primary wage earner, the likelihood that they will seek a prenup is greater than it used to be."
It’s a touchy subject. Not sure how to approach it? Sit down with your partner and go over details before entering prenup territory, suggests Black Enterprise. What are your financial goals? How different are your money management styles? Will you have separate accounts? How much personal debt do you have?
Experts advise discussing the agreement in an honest way early in the relationship, asking plenty of questions, hiring your own attorney to keep bias out and making sure future children are also protected.
Weil adds that family money and inheritance are also assets to consider protecting, and prenups can be amended if your situation changes.
If you get one from your fiancé, don’t panic. Hire a lawyer to oversee the process, request spousal support and be sure to protect your retirement funds and life insurance, says BNET.
Bonus PINK Link: Already tied the knot? Here’s how to renew your financial vows.
By Muriel Vega
"A long marriage is two people trying to dance a duet and two
solos at the same time." Anne Taylor Fleming