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NBA star poised to lose half of $150 million in divorce

Connecticut Divorce Lawyer

On behalf of Law Offices of Piazza, Simmons & Grant, L.L.C. posted in Prenuptial Agreements on Wednesday, January 4, 2012.

Recently, there have been reports published in Connecticut and elsewhere that famed professional basketball player Kobe Bryant and his wife plan to end their marriage. According to reports, the couple did not sign a prenuptial agreement before the marriage. An attorney speculated that this will likely cause the division of property to split the assets belonging to the couple right down the middle. – Connecticut Divorce Lawyer

According to some estimates, the basketball player is worth approximately $150 million. Forbes magazine believes that the NBA star made $53 million before taxes last year. Without a prenup, Bryant is set to lose $75 million in the divorce settlement. He may also be subjected to alimony and child support, despite the large sum of money that may go to his estranged wife.

The couple wed in 2001 and, after 10 years of marriage, Bryant’s wife may be legally entitled to maintain her standard of living with her former husband. Because of certain state laws, the marriage will likely be considered a lengthy since it just passed the 10-year mark. This means she may be awarded lifetime alimony and he may be forced to make her part of his retirement plan.

One attorney believes that she will receive enough in the divorce to last her more than her lifetime.

A prenuptial agreement would likely have saved much of the $150 million Bryant is allegedly worth. In it, he could have limited his former wife’s rights to spousal support and assets belonging solely to him. It should not be considered a sign of disbelief in the marriage if a partner wants to negotiate a prenuptial agreement before a wedding. Instead, it should be seen as an opportunity to responsibly plan for the future.

Source: Los Angeles Times, “Kobe Bryant divorce: Prenup could have ‘saved half of his fortune,'” Dec. 20, 2011

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