For women who earn more than their husbands, considering a divorce can represent some important financial considerations. There are several factors to take into account, even before the nuptials, when thinking about the monetary implications of the dissolution of a marriage. The division of marital property, business considerations and personal financial accounts may all come into play during divorce proceedings, and proper planning ahead of time can help to prevent problems and protect financial assets.
A pre-nuptial agreement, for example, can assist a couple in sorting out the most important pieces of monetary information should the marriage be dissolved. Thinking of a pre-nuptial agreement as a respectful way to settle matters with the least amount of complexity for both parties can help to frame such an agreement in a positive light.
For women, maintaining a separate bank account is one of the keys to establishing financial independence. It is best if this account be kept entirely for purposes that are not related to the marriage, with no co-mingling of funds. Otherwise, there is a risk of having it divided in the event of divorce.
For women who own a business, taking steps to safeguard it is crucial. However, navigating the law in this area can be confusing, especially since laws vary significantly from state to state. Texas, like all other states, has specific laws governing how to protect a business. Consulting a family law attorney can help to sort out the steps necessary. Planning and thinking ahead about finances before can facilitate a smoother transition should a divorce occur down the road.
Source: Forbes, "Divorcing Women: When You Earn More Than Your Husband," Jeff Landers, April 10, 2013