When the celebrity chef Bobby Flay and his soon-to-be ex-wife, Stephanie March, attended a court hearing recently, the hostility between the two was evident. Any celebrity couple — in Texas or elsewhere — who is going through a high net worth divorce will typically have their private lives exposed by the media, only to make the process more traumatic. Stephanie March is contesting the validity of their prenuptial agreement, asking the court to declare it null and void.
In addition to accusations of Flay’s adulterous affairs, March claims that she was responsible for his success as a chef. She asserts that her sophisticated palate played a major part when Flay tested recipes, and she, therefore, has a claim on a portion of his money earned as a celebrity chef. Furthermore, March asserts that Flay bought her a racing horse as an anniversary present, which went on to win substantial earnings from racing. Flay admits that he gave March a racing horse, but he denies her accusations that he kept the $130,000 in winnings and the $60,000 profit from the sale of the horse. He claims that her intentions are no more than an effort to taint his reputation.
It is reported that the couple signed a prenuptial agreement three days before their marriage. Although it has not been confirmed whether or not the contract was notarized, it will play a significant role in the divorce proceedings. According to the prenup, Flay has to pay March a monthly amount of $5,000 for five years after their divorce. March’s legal counsel is confident that the agreement will be considered unconscionable by the court.
The object of a prenuptial agreement is to protect the interest of both spouses in the event of a divorce. It is not uncommon for one spouse to accumulate riches during a marriage that were not anticipated at the time of signing the agreement. Retaining the services of an experienced Texas family law attorney who focuses on prenuptial agreements may ensure that all eventualities are covered to produce a fair contract. A lawyer will evaluate a prenuptial agreement before his or her client signs it and suggest changes where necessary. Being proactive may avoid a situation in which one party suffers financially in a high net worth divorce.
Source: hollywoodtake.com, “Bobby Flay’s Money Split In Divorce? Stephanie March Says Profit From Horse Racing And Restaurants Should Be Hers Too”, Melissa Siegel, May 26, 2015