No longer are parents in Tennessee expected to quit their jobs when they become parents. In fact, it almost seems expected that they will not do so and will instead utilize nannies, day care centers or relatives to help them care for their children while they continue their careers. Parents who do make the choice to quit their jobs and stay home to raise their children get to be there for special moments of their kids’ lives, but they should also be wise about protecting themselves financially.
As explained by Forbes, moms or dads who have been out of the workforce for several years and then find themselves facing a divorce could be in for quite a rude awakening. Courts today expect each spouse to be self-sufficient and do not necessarily regard stay-at-home parenting as a job or career akin to any other. This may result in a lower alimony settlement than a person might have expected.
The creation of a prenuptial agreement or a postnuptial agreement when the decision to have one person stay at home may help in these situations. It is a vehicle through which couples may outline support provisions if they eventually get divorced, providing important protection for the person who left a career to raise their joint children.
This information is not intended to provide legal advice but is instead meant to help give spouses in Tennessee some idea of how a marital contract might protect them if they get divorced after making the choice to leave the workforce and raise their children.