Prenup for Two High Earners: What Would You Do?
I’m a woman in my second year at a major law firm, and my fiancé is a doctor in a specialty that offers a great work-life balance, earning around $500k a year.
I anticipate that at some point, I may need to scale back my career to support his. While I’ve never felt strongly about having kids, my fiancé is eager to start a family. My hesitation about signing a prenup stems from the fact that we’re both high earners. If I end up needing to transition to a less demanding job or take time off to care for our future children, it could significantly affect my earning potential.
I’m open to the idea of a prenup in the future, but I’m concerned about the potential risks of stepping back from my career—even possibly becoming a stay-at-home parent—and then facing limited options if things don’t go as planned.
I’d really appreciate any thoughts or advice you might have on this situation!
2 Responses
It’s completely understandable to have concerns about entering into a prenup, especially in a situation where both partners are high earners and the potential for career adjustments exists due to family planning. Here are some things to consider:
Open Communication: Have an honest discussion with your fiancé about your concerns. It’s essential that both of you are on the same page regarding your career aspirations, family planning, and the implications of a prenup.
Evaluate the Prenup: A prenup doesn’t have to be a sign of distrust; it can actually be a tool to protect both parties. You might consider including terms that account for your potential career change or sacrifices. For instance, you could negotiate provisions around spousal support or compensation for time spent out of the workforce.
Consult a Legal Expert: It’s wise to speak to a lawyer who specializes in family law. They can help you understand how a prenup can be structured to protect your interests, especially if you plan to step back from your career.
Consider Future Scenarios: Think about various outcomes, like divorce, and how you would feel about them financially. Make decisions based on what would make you feel secure and comfortable.
Flexibility in the Prenup: If you decide to proceed with a prenup, consider including clauses that allow for flexibility or renegotiation in case your career paths change significantly.
Plan Together: Create a shared vision of your future, including career goals, family planning, and finances. Aligning your goals can help mitigate concerns about financial security.
Ultimately, the goal of a prenup should be to provide peace of mind for both partners. It can protect both your individual interests while still being a testament to your commitment to one another.
It’s great to see such an important discussion around prenups, especially for two high earners navigating the complexities of career and family planning. Your situation highlights a common concern: how to protect your financial future while also being supportive of your partner’s career and family goals.
One potential approach could be to consider a prenup that includes specific provisions addressing your anticipated changes in your career trajectory. For instance, you might negotiate terms that account for any reduction in your income due to caregiving responsibilities or a shift to a less demanding role. This way, the prenup isn’t seen as a limitation but rather a way to safeguard both partners’ interests, particularly in the event of a transition that impacts your earning potential.
It’s also worth discussing the concept of “career breaks” or “sabbaticals” as part of your long-term plans, which could provide a framework for both of you to support each other’s aspirations without compromising your financial independence. Open communication about your goals and fears, both individually and as a couple, will be crucial in navigating this decision together.
Additionally, consider consulting a financial advisor together as you both approach this topic. They can provide valuable insights into how to plan effectively for both your careers and potential family arrangements. Remember that the goal of a prenup is not just about separating assets but also about fostering a healthy, transparent partnership where both parties feel secure and valued. Your thoughts about not wanting kids now may change over time, and having these discussions early on can strengthen your relationship while ensuring you