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posted in Prenuptial Agreements

on Wednesday, June 13, 2012.

High-asset divorces are some of the hardest splits to overcome. Finances often get in the way of an amicable divorce, especially when there is a considerable amount at stake for either spouse. Instead of making the same mistakes that so many in Connecticut already have, newlywed couples with any amount of assets that could be at risk during a divorce should look at the option of a prenuptial agreement.

The division of property can quickly become the heated focus of a divorce, most often for wealthy individuals. Take, for example, some of the many celebrities who have gotten divorced over the years. Kelsey Grammar reportedly lost $50 million to his wife during their divorce proceedings. Madonna lost $90 million to Guy Ritchie when they ended their marriage. And Mel Gibson’s estimated fortune is $900 million, and his divorce saw a major portion of that money go to his ex-wife.

None of these celebrities had prenuptial agreements. If they did, they would have been able to protect the wealth they had created before the marriage and potentially the wealth that was created during the marriage, depending on how the prenup was structured.

Other lessons that can be learned from celebrity breakups include avoiding the public discussion of a divorce. The infamous split between NBA player Kris Humphries and Kim Kardashian has not yet been finalized. Experts believe that this has likely been fueled by the outspoken and public nature of the relationship: Their marriage — which only lasted 72 days — was televised. It has been almost a year since the announcement of their split, and it has yet to be completed.

While the public eye likely has a tremendous effect on celebrity marriages, it is something that may be beyond help. Instead of concentrating on the juicy rumors, people should try to learn from the mistakes that the many famous former couples made in failing to prepare for a divorce or strengthen a marriage.

Source: Huffington Post, “Celebrity Divorce: What It Can Teach Us,” Silvana D. Raso, June 5, 2012

Tags: divorce, prenuptial agreement

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