2015 has been a year that has seen its fair share of celebrity splits. Some of them expected and others, shocking. We’ve seen Blake and Miranda divorce, Reba and Narvel, Jenn and Ben and so many others. And on the opposite side, we’ve seen some celebrity marriages as well. Jennifer Anniston tied the knot. Ashton Kutcher got married as well. So did Billy Joel and Vanessa Williams. Besides being celebrities, all of these people have another thing in common, they have substantial personal assets.
When anyone with substantial assets gets married, it becomes important to protect those assets if the unforeseeable happens and the couple split up. Enter the prenuptial agreement. Sitting down and talking about what will happen to your assets if you fail as a couple with your fiancé is not the most romantic thing. Many people take offense. But for those who have worked and amassed a great deal of money and/or property, they need to protect these things. Why not get this unpleasant conversation out of the way so everyone knows where they stand?
Marriages today do not have the staying power they once did. If you follow the entertainment web sites, you can see there are marriages that have lasted a few years, a few months or even a few days! When people are taking their vows without the commitment they once had, it is essential to make sure one’s property and assets are not in jeopardy.
A prenuptial agreement is an agreement that is agreed upon by both parties. It might specify that in the case of divorce a specific amount of money be awarded to a spouse. This would not allow the spouse to pursue additional support. It might specify that certain tangible assets that were the possession of one spouse prior to the marriage not be considered joint property during and after the marriage. Sometimes a prenuptial agreement even goes into things like wills and rights to insurance policies. Prenuptial agreements will not normally stand up in court when it comes to child support.
There are times when a prenuptial agreement can be modified or revoked under certain situations. If someone was untruthful about the amount of assets they hold, the prenuptial agreements can be changed. It the document was signed under duress or threat it can be revoked. These prenuptial agreements can be tricky and confusing. If presented with one it is always best to have an attorney review any document before signing it.