In recent years, the rate of marriage dissolutions has remained high. Often, high-profile cases in one state are watched in other states to see how they are handled. Correspondingly, many couples in Louisiana have been keeping track of a divorce case in the neighboring state of Texas. The case is particularly important for marriages that include prenups.
Prenups, more formally known as premarital contracts, are typically written and signed before a couple marries. They usually address the money, material assets, sources of income and other things of value that are to be legally designated as separate legal property. Everything so designated will not be subject to division in a divorce. The contracts can also determine exactly how much money the less-wealthy spouse will leave the marriage with.
In this case, the prenup stipulated that the wife would get a $5 million payout in the event of a divorce. However, neither divorcing spouse is happy with that figure. The husband wants it to be less and the wife wants it to be more. To make their case, each is alleging that the other violated the terms of the prenup.
The husband, who earned around $36 million in 2010 alone, asserts that the wife wants $20 – $40 million. According to reports, she is trying to get that by invoking contract law, claiming that her husband breached the terms of the premarital contract. He claims that she is the one who violated the terms of the contract.
Divorce cases, whether in Louisiana or across the country, can be acrimonious. This often true when substantial amounts of money, a family home, or custody of the children is involved. In order to ensure their rights and interests are protected, most find a family law attorney’s advice invaluable.
New York Post, “Hedge fund manager in epic divorce battle over prenup violations” Josh Kosman, Nov. 29, 2013