IN North Allegheny Spring 2016 | Page 44

INDUSTRY INSIGHT S taying at home with the kids is a huge sacrifice and the rewards are great, but is this experience priceless? With the divorce rate at 40-50%, some parents would argue that they paid the price on the back end. Mothers and fathers have given up their careers and paychecks only to find out in court that they are not getting the security they once thought they would have. In Pennsylvania divorce cases, the courts consider a parent’s contribution as a homemaker or a custodian of minor children as one of 11 factors in deciding how to divide the marital estate, and one of 17 factors in deciding whether that parent should receive alimony. This is not welcome news for professional men and women who left a good job for diapers, playdates, PTA and sleepless nights caring for a sick child. For example, in 2000, “Jane” was an advertising executive for a big firm. It took Jane approximately 10 years in total to prove herself and rise to the executive level of the firm. “John” was in medical school when they met, and became a doctor in 2000. They got married in 2001 and both of them earned approximately $100,000 per year. Jane continued to work at that level until she gave birth to “Jack” in 2003. John and Jane agreed that Jane would stay home with Jack so he can have the same upbringing that they benefitted from. However, in 2016, John and Jane decided to divorce. They tried to handle their divorce amicably, but Jane is disappointed with John’s offer of two years of alimony and 50% of their marital estate. In 2016, John is making $400,000 per year. He asserts that Jane can go back to work as an advertising executive making the same salary she did 13 years ago. However, at this point Jane would essentially have to start from scratch in advertising, making $35,000-$40,000 per year, and it would take her at least eight years to be able to make $100,000 per year. She is eventually awarded FAMILY LAW SPONSORED CONTENT SHOULD STAY-ATHOME PARENTS HAVE A POSTNUPTIAL AGREEMENT? www.mcmorrowlaw.com Divorce/Custody Support/Alimony Collaborative Law Estate Planning Guardianship Mediation FREE CONSULTATIONS McMorrow Law 10475 Perry Hwy., Suite 204, Wexford, PA 15090 42 724.942.0940 TO ADVERTISE | North Allegheny (724) 940-0100 Protecting Your Family and Your Future www.mcmorrowlaw.com four years of alimony at $4,000 per month, $1,200 per month in child support and 50% of the marital estate. The alimony is designed to give her time to get the education she needs to get back into advertising or another field of her choosing, and to cover her medical insurance for that period of time. Jane is bitter that she gave up her future because of what she and John thought was important — raising their son. Things could have turned out differently if both John and Jane made a conscious decision to provide security for Jane in the form of a postnuptial agreement. Postnuptial agreements are helpful in these situations because they can structure a financial arrangemen