Choosing to leave a career behind and become a stay-at-home parent can be fulfilling, but it comes with long-term consequences for your earning potential. Before you make this decision, you need your partner’s reassurance of his or her commitment to supporting you. 

A postnuptial agreement is a formal, legal statement of that commitment. While some people associate this document with divorce, the information you include does not have to take place only in case of a divorce. 

Financial support 

Forbes points out that leaving your job makes you vulnerable, and the financial imbalance could lead to an imbalance in the power of your relationship. Your spouse needs to commit to supporting you financially, as well as to acknowledge that your contribution, while not financial, is equally important to the family. 

Education and training for returning to work 

When you are ready to re-enter the workforce, your skills may no longer be marketable. You may need extra education and training to return to your former career. You may want to ask your spouse to commit to paying for classes or even a new degree to restore your earning capacity. 

Benefits 

Your spouse likely has health insurance benefits and retirement through his or her employer, but you will not have that option. You should specify that you cannot quit your job without health insurance, and that your spouse should provide it for you until you rejoin the workforce. Likewise, with retirement, you may want to state in the agreement that you are due a fair portion of your spouse’s accounts. 

Life insurance 

If your spouse suddenly dies, your situation could become financially devastating. You may want to stipulate that your spouse carries a life insurance policy to make sure you do not lose everything in a sudden accident. 

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