Happy Friday DINKS! This week we are discussing the quickest way to lose our wealth…via divorce. It can take successful business people many years to build up an empire, and with one simple signature, it can all come crashing down.
There are many cases that prove to us the importance of a prenuptial agreement. If you are like me, you have a romantic side. The mushy side of my brain thinks that thought of a marriage becoming about money and not about love is heartbreaking. However, the financial side of my brain says that a prenuptial agreement is just good business.
Over the years we have seen many millionaires and billionaires lose their fortunes to the women who claim to have loved them, but who also may have married them for money. If you are successful and wealthy, how will you ever know when marriage is not about the bottom line?
The answer is during the introduction and signing of the prenuptial agreement. As a woman I may be insulted that my potential husband doubted my love. However, as a business owner, I would completely understand. A prenuptial agreement is not a doubtful insinuation; it is an order of protection. A prenuptial agreement is a legal right to protect assets accumulated prior to (and sometimes during) the marriage. If the potential spouse does not sign the prenuptial agreement, you have found your answer. They were marrying for money, and therefore, you should look for love elsewhere.
Here are some articles about the most expensive divorces in history including the owner of Black Entertainment Television, the nephew of Walt Disney, a beloved Beatle, and most recently, Tiger Woods.
- #179, Johnson, Robert L @ Forbes.com
- Paul McCartney-Heather Mills Divorce Settlement the Bitter End @ People Mag
- Tiger Woods Divorce Settlement estimated at $300 Million @ Mina
- When Billionaires Divorce @ Forbes.com
And here are some other great finance reads throughout the web:
- A PF Blogger’s Glass Ceiling? @ Funny About Money
- Frugal teen buys house with 4-H winnings @ The Columbus Dispatch
- Eddy Curry makes a lot, spends a lot and owes a lot of money @ Yahoo! Sports
- Carnival of Personal Finance #258 – “Cities at Night” ed. @ Money Relationship
- Carnival of Money Stories @ Funny About Money
- Money Hackers Carnival #117 – “Wedding & Marriage“ ed. @ Engineer Your Finances
- Festival of Frugality #231 – “Lessons About Money” ed. @ Remodeling This Life
(Photo by cdedbdme)
{ 4 comments… read them below or add one }
Yes, tigers infidelity will end up costing him very dearly.
It’s a travesty the ways in which divorce and family cases are resolved. It seems like this should be fair and uniform. But, it gets more bizarre every year. Community property, child support and no-fault divorce were created for a reason. To take the emoition and inuendo out of the cases and do what is right. Now, it seems like lawyers can come up with ridiculous demands and judges let them get away with it. I think it undermines the institution of marriage and keeps people from committing to each other.
Disclosure: I am happily married and plan to stay that way.
I agree with James. Tiger and his infidelity should affect nothing but his relationship with his wife. Unfortunately, we live in a society where endorsements are supported by a positive image. This situation has ruined Tigers wholesome personal image and therefore his professional life and bank account have suffered.
I also agree with Hope to Prosper. Sometimes money over powers love, but in my opinion, this should never be the case. When money is the only thing on someone’s mind then a marriage becomes just another business deal.
I agree with @Hopes to Prosper, it’s crazy what some settlements look like today. Truthfully some of what I’ve read has made me wonder how the heck some couples were every married, let alone happy at all.
Good points on the importance of this topic though, protection is key here and you just never know what life holds.