Prenuptial Agreements: It’s Better Safe Than Sorry

by Kristina Tahnyak on October 1, 2012 · 2 comments

Love and Money, Marriage Money, a Couple’s Budget, no matter how you say it one topic that is always current in every relationship from dating to marriage is money. According to H&R Block a shocking 49% of divorced people said that they expect to argue about money in their relationships.

Whenever you share your life and your money with someone I think it’s safe to say that arguments are a given.  No relationship is perfect and not everyone manages their money in the same way, this can lead to conflict and potentially an argument.  You know what they say about a conflict…what happened in the past doesn’t matter; it’s what you do next that counts.

If you argued about money in a previous relationship you may want to protect yourself in your next relationship with a prenuptial agreement.  Of course a prenuptial agreement will not eliminate money arguments in your day to day relationship, but if the relationship ever comes to an end at least you and your money will be protected.

MSN recently published an article about celebrity couples, their relationships, and their money.  I am always surprised when I hear about celebrities who don’t have a prenuptial agreement.  I am especially surprised when I hear about celebrities who don’t have a prenuptial agreement especially when they marry people with less money or people who may not work.

Do you know which celebrity didn’t have a prenuptial agreement?

– Katie Holmes and Tom Cruise did have a prenuptial agreement and therefore Katie Holmes will not be receiving half of Tom Cruise’s fortune.  However it is reported that Tom Cruise may have to pay $400,000 a year in child support.

– Kelsey Grammar and Playboy model Camille Donatacci did not have a prenuptial agreement when they got married because Grammar did not have any money at the time.  However, over their 14 years of marriage the couple amassed quite a fortune.  Last year when the couple divorced Donatacci received a reported $30 million dollars in the divorce settlement.

– Britney Spears and Kevin Federline did have prenuptial agreement; this was especially helpful for Britney when the couple divorced after only two years of marriage.  Regardless of her personal fortune, Spears only had to pay Federline $1 million after their divorce.

– Madonna and Guy Ritchie did not have a prenuptial agreement and therefore Ritchie received between $76 and $92 million during their divorce.  Unfortunately Madonna learned her love lesson the hard way.

– Paul McCartney and Heather Mills had one of the most publicized divorce settlements in history. After only 4 years of marriage Mills received $50 million from the former Beatle in their divorce settlement.  That’s an average of $12.5 million per year, not a bad pay day for a former model turned Dancing with the Stars contestant.

– Jennifer Lopez married backup dancer Cris Judd in 2002 and the couple divorced after only nine months of marriage.  Unfortunately Lopez went into the marriage with her heart and not with her head.  Nine months of marriage cost Lopez $15 million in a divorce settlement.

Photo by epsos

For more on prenups, go here and here.

{ 2 comments… read them below or add one }

1 DC @ Young Adult Money October 1, 2012 at 6:37 pm

I can see pre-nups for those who have amassed wealth before marriage, but I don’t really see the point if you are both in debt and/or young and/or don’t have any money.

It sounds like J-Lo learned an expensive lesson…

2 Dave@50plusfinance October 2, 2012 at 11:37 am

On your first marriage I would say no. Go into it with an open heart and open wallet.

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