Among the many contracts Donald Trump has signed in the course of his career is a prenuptial agreement with his first wife, Ivana. According to The New York Times, it stipulated that, "should the couple split, she return everything - cars, furs, rings - that Mr. Trump might give her during their marriage."
Prenuptial agreements are supposed to protect spouse's assets in the event of divorce. While couples getting divorce can try and have the prenuptial agreement voided or thrown out, it doesn't happen very often. However, a recent divorce case shows just how rare it is to have a prenuptial agreement vacated and the ruling may impact future divorce cases.
When couples get married, they don't plan on splitting up in the future. However, the divorce rate is still high, with almost 50 percent of all marriages ending in divorce in the U.S.
When a couple signs a prenuptial or postnuptial agreement, they likely believe that doing so will protect them from a messy, bitter family court fight should they ever decide to divorce. Unfortunately, that is not always the case.
It was announced earlier this month that Russell Crowe and his wife, Danielle Spencer, were planning to divorce after nine years of marriage. Although neither Crowe nor Spencer has made a public statement on the reasons for or logistics of their divorce, the couple is believed to have signed a prenuptial agreement before they married. This gives an indication of how their property and assets will be divided in their divorce settlement.
It is likely that many of our Atlanta readers were unsurprised by the announcement that the marriage of actors Tom Cruise and Katie Holmes will end in divorce. But regardless of your opinion of the Cruise-Holmes union, it will probably be interesting to see how their divorce plays out.
More than eight years after she famously stood by her husband through allegations of sexual assault and admissions of infidelity, Vanessa Bryant has filed for divorce from her husband, professional basketball player Kobe Bryant. Although Vanessa has not publicly stated why she decided to file for divorce, many are speculating that Kobe's continued philandering may have motivated her decision.
Many brides and grooms may be preparing to get married in Georgia this spring and summer, but they may also want to consider signing a premarital agreement while checking off their wedding to-do list. Getting married is an exciting time in anyone's life, but many of us also understand that there may be challenges down the road that could put a marriage in question. For some Georgia couples, signing a prenuptial agreement may be beneficial in order to protect each other's assets and expectations in the case of a divorce.
In our last post, we began discussing property division for unmarried couples who decide to separate, and the importance of having a written agreement specifying their rights and obligations in regard to property ownership in the event of their separation. We left off discussing the first way property may be held by unmarried couples, namely joint tenancy.
Family law rules and standards - while generally sharing many similarities - are far from being unvaried in their substance and application among the various states.Celebrity cases, owing to their media prominence, sometimes serve to readily point that out. Much is being said in news stories presently about what looks to be the likely divorces of Courteney Cox and Christina Aguilera. These wealthy women were married to their spouses, and will probably be divorcing, in California, which is a community property state. The law there presumes that in property division matters, absent an instrument such as a prenuptial agreement, the assets a couple acquired during marriage will be split evenly.