It’s very common, in so-called May-December relationships, for the wife to have the option of taking time off from work to raise the children during their formative years — a move that, in the event of a divorce, could necessitate spousal support.

I just worked with a woman in this position. During the prenuptial agreement negotiations, her then-fiancé wanted her to waive spousal support despite the realities of the situation – their current income disparity. 

Even though his earnings are much more than hers, she had the foresight to see that he would probably retire much sooner than she would. She could easily imagine an eventual role reversal in which she would be paying him. 

She needed to have the security of knowing that — if they wound up divorcing at a much later time — her financial security would not turn to shambles. At the same time, she did not want to be on the hook to support him through a life stage that is known for its extreme expenses. 

We came up with creative solutions to address her concerns and protect her in the short and long term for all eventualities.

The case above provides a relatively common example of how people plan for large age gaps in their marriages. Other, more complicated issues arise if the older spouse has been married before.

Let’s say, a woman is marrying someone 25 years older than her. I want to make sure that this man has a life insurance policy specifically designated to her and their joint children as opposed to his dependents from his previous marriages. Additionally, estate-planning documents need to be examined and rewritten to reflect the new marriage and its offsprings. Not to mention healthcare proxies and living wills. That’s why it’s often important to include a trusts and estates attorney in your strategy. 

Of course, anything you can do with a prenup, you can also do with a postnup.

Contact me to learn more: https://cherylsteinesq.com/contact.

Cheryl Stein, Esq.
The Law and Mediation Offices of Cheryl Stein
745 Fifth Avenue, Suite 500
New York, NY 10151
Phone: (646) 884-2324
E-mail: cheryl@cherylsteinesq.com

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