Although it used to be pretty standard for men to be the higher — or only — earners supporting their families, women are increasingly taking up that role. In fact, many women in Alabama even start off the marriage with more to their names than their soon to be spouses. Women in this position often turn to prenuptial agreements to protect their own future financial stability, but it is important to avoid what could be costly mistakes.
For example, full financial disclosure is key to a successful prenuptial agreement. With all financial information on the table, both parties can make sound decisions regarding the financial side of their marriage. If a woman fails to provide all of her financial information — even accidentally — then a judge could decide that her prenup should not be enforced since her partner could not make a fully informed decision.
Purposely skewing a prenup in only one party’s favor is also frowned upon. This usually happens when the higher earner uses his or her financial status as a bargaining tool to potentially leave the other party with virtually nothing in a divorce. This is something that women in Alabama who outearn their future spouses should be sure to stay conscious of.
Protecting one’s self in the event of a divorce is important. Prenuptial agreements afford this protection, securing one’s future finances and assets. Losing those protections because of an unenforceable prenup can be devastating, so it is best to make sure that one fully understands how these agreements work and best practices for moving forward.