Unfortunately, divorce is a reality for many Americans. For whatever reason, the relationship between spouses breaks down and the only remaining option is to leave the union and move on with one’s life. Many wealthy people have in place a prenuptial agreement to help ensure that, should the tie that binds be severed, they will remain in the same financial state as before the vows were spoken. These agreements are just as valuable and advisable for those who have not attained celebrity status or accumulated millions in assets. With a prenuptial agreement in place, Texas courts will have less say over the division of assets in the event of divorce or death.
Recently, the news has been full of sexual misconduct scandals by powerful men. Women are coming forward and detailing the years of endured sexual misconduct and advances. One such case involves Harvey Weinstein, the Oscar-winning producer. Since the revelation of his misbehavior, his wife of 10 years, Georgina Chapmen, has consulted with divorce attorneys and stands to leave the marriage with well over $12 million along with their two children, ages 7 and 4.
The details of the prenuptial agreement reveal that the fashion designer stands to receive $400,000 annually in spousal support. She will also receive $250,000 for the first five years in marital assets and then $700,000 per year every additional year. These payments will also accompany a $25,000 per month housing allowance.
Regardless of the wealth of the couple, a prenuptial agreement can lay out a sound plan for a financial future for both spouses should a divorce occur. Providing a clear picture of the division of assets and future spousal payments can put the intended at ease. Enlisting the aid of Texas attorneys to aid each spouse individually in outlining the prenuptial agreement can save thousands of dollars down the road if the marriage should dissolve.
Source: people.com, “Georgina Chapman & Harvey Weinstein Prenup Revealed“, Jodi Guglielmi, Dec. 20, 2017