INVEST IN WOMEN | WOMEN IN PLANNING

Women out of the workforce might still need the protection of these agreements later . By Jacqueline Sergeant

If you aren ’ t going to be the high-earning spouse in a marriage , you are going to want to consider prenuptial or postnuptial agreements .

“ There is a fallacy that the people who are not the money spouse should not sign a prenup or postnup . That ’ s wrong . This is your time as the non-moneyed spouse to negotiate your package ,” said divorce attorney Lisa Zeiderman , noting that women are usually the ones to spend less time in the workforce because they are home with kids or supporting the family .

Zeiderman , managing partner at Miller Zeiderman LLP in New York , spoke in early May at Financial Advisor magazine ’ s eighth annual Invest In Women conference in Atlanta , par- ticipating in a panel called “ Divorce , Second Marriages & Pre- Nuptial Agreements .”

She said her office sees many women who have been in marriages after 10 , 15 or 25 years and have essentially given up their earning power . “ And they are not going to get enough spousal support and they are not going to get enough equitable distribution to make up for that time ,” she said .

If women haven ’ t negotiated a prenup or postnup at the point they decide to stay home , they might later find themselves spending huge amounts on legal fees to demonstrate what their lifestyle is and why they can ’ t earn anymore — and how it might be devastating to them that their husbands , who might have gone on to earn millions over the years their spouses stayed home , do not want to give them financial support , Zeiderman said .

JUNE 2023 | FINANCIAL ADVISOR MAGAZINE | 15