What do Beyonce, Jay Z, Tiger Woods, Elin Woods, Nicole Kidman, and Keith Urban have in common? Yes, they are all multimillionaires. Yes, they are all super famous, but considering this blog is on a law firm website you may want to dig a little deeper. Hint: look at the title of this article. That’s right! All of the peopled named above either have or had a prenuptial agreement. Celebrities have some of the strongest and weirdest prenuptial agreements, but they are all drafted with one purpose in mind; to protect each party in case the marriage breaks down.
For those of you who do not know, a prenuptial agreement is a contract that is executed between future spouses in contemplation of marriage that dictates how marital property and finances will be distributed if the marriage ends in divorce. You may be thinking, sure Beyonce and Jay Z need a prenuptial agreement with the hundreds of millions of dollars they make a year, but why would I need one I only have my business, house, car, and stocks?
A prenuptial agreement can help all individuals from the richest of the rich to the poorest of the poor. A prenuptial agreement, if drafted properly, reduces and may completely eliminate the need for any court hearings if the marriage breaks down. It can protect property you are bringing into the marriage as well investments made prior to the marriage. Generally, as long as a prenuptial agreement is entered into freely by both parties and it does not violate public policy or other laws, the agreement will be favored by the courts. (This is a general statement and each prenuptial agreement is different, please speak with a family law attorney before making the assumption your prenuptial agreement is valid.)
If you want to be like Beyonce and Jay Z, Tiger and Elin, or Nicole and Keith and have a prenuptial agreement, please contact our office today.