A prenuptial agreement is a very good way for both parties to be honest about their assets. It can also serve as a stepping stone for deeper conversations about your relationship.
Famous people have long recognized the value of these agreements because their lives often include multiple homes, business interests and elevated value assets. Celebrity couples also may be bringing different assets into the marriage and want to be clear about how these assets will be divided should the marriage last less than a lifetime. Here are some “tips” from the purported prenuptial agreements of three famous Hollywood couples.
3 things that worked out well
If you are worried about what will happen to your children, it may be wise to set up a trust. Clarify how assets will be divided to the children. Angelina and Brad did this and also purportedly had an “ironclad” agreement that allowed for a smooth division of the $400 million fortune.
You also may want to determine, while you are on loving terms with one another, what a fair amount of alimony might be, as did Jay Z and Beyoncé. She was to receive $10 million if their union ended before two years and $1 million a year for each year they stayed together after that, up to 15 years.
If addiction is an issue for concern, and it could cause serious financial implications, then you may want to follow the lead of Nicole Kidman and Keith Urban. Word around Hollywood has it that Nicole is protected from any financial liability stemming from Keith’s history of substance abuse in the terms of the prenup.
Things that cannot be included in a prenup
While there are many, many things that a prenup can include, there are a few items that are not typically enforceable. These include specific chores, how a person is to act or dress, where holidays are spent, how the children are raised and who gets visitation and custody in a divorce.
Why? Because prenuptial agreements should center on monetary assets. A divorce agreement is the right place to discuss child visitation and custody. Any divorce settlement needs to put the needs of the children first. And as any parent can tell you, the needs of children change as they grow.
But prenups are useful. When they are created in the absence of anger, and with each party’s financial future in mind, a prenuptial agreement is a very helpful tool when a relationship is not at its best.
