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Making The Complex Understandable

Too much or too little: celebrity prenuptial agreement

When a couple marries, they may be focused on the emotional aspects, like how they feel about each other. They may also be focused on their shared plans for oncoming years, like how many daughters and sons they would like to have and where they want to live. However, many couples are realizing that it is important to also take a concrete look at their finances.

For astute planners who are realistically looking ahead and aware of a high divorce rate, that often includes putting together a contractually binding prenuptial agreement that determines where the couple's money and material assets will go in the event of a divorce. While this widely considered a wise and practical move for most couples, wealthy ones wind up needing to decide exactly how much is too much when it comes to sharing their fortune with their future ex-wife or future ex-husband.

This the case with controversial couple Kanye West and Kim Kardashian. Both have garnered substantial media attention over the years for various escapades. Now, they are engaged and have a prenuptial agreement. The agreement gives Kardashian a staggering $1 million per year up to the first 10 years that she is married to West, in addition to letting her keep specific material items, which includes their mansion. However, some are saying she should have pursued more.

One divorce attorney says that the cash should be $2 million per year for the first 20 years. That suggestion is based on the debatable prediction that the marriage may last longer than 10 years. If so, revising the financial structure would result in more pay for Kardashian in a divorce.

Most Louisiana couples don't deal with such numbers. However, they can still benefit from a prenuptial agreement. A good attorney can help them draft one that reflects the reality of their situation.

Source: The Stir, "Kim Kardashian's Prenuptial Agreement Could Wind Up Costing Her in the End" Mary Fischer, Mar. 12, 2014

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