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The complications of divorce for the rich and famous

On Behalf of | Sep 21, 2023 | Prenuptial Agreements |

When a marriage is over, both parties must address certain financial matters, such as the division of marital property and spousal support. These are complicated issues for Texas couples, especially when there is significant wealth or property at stake. For celebrities, divorce can be contentious and difficult, which is why many choose to draft a prenuptial agreement before they marry. This document outlines the division of marital property and other issues in the event of a divorce.

Lessons from celebrity divorces

Actor Kevin Costner and his wife recently went through a complicated and very public divorce. While there was a prenuptial agreement in place, the wife decided to challenge the prenuptial agreement. Mr. Costner’s net worth increased significantly over the course of their marriage, and she believed that she was entitled to a larger payout than the $1.4 million they originally agreed she would receive in case of a divorce.

Couples that draft prenups can include clauses that are important to them. For example, they can include cheating clauses or terms that outline how much spousal support one spouse will receive. It is important to include terms that are enforceable in case there is a dispute over a prenup, as there was in this celebrity divorce.

Can anyone have a prenup?

A prenuptial agreement is not something reserved only for the rich and famous. Average Texas couples can benefit from seeking guidance regarding how this type of marital contract may prove beneficial for their situation. This document can provide protection and security, regardless of income levels, wealth and the amount of assets owned by the spouses.