BRITAIN: It is always fun to know what the rich and famous got when they divorce, isn’t it? Well, UK Guardian had a great piece about prenups today and they were kind enough to supply us with about six divorce deals that might be of interest to anyone who cares about this stuff. BTW, the article in question was about this new trend in the UK for young men to insist on prenups with their wives. Seems men under 45 are learning their bitter lessons from their older counterparts and they are not entering marriage unless their prospectiv wives sign off on the prenup. Seems a study was done by a British law firm Mishcon de Reya on the issue:
According to the research, carried out for the law firm Mishcon de Reya, men under 45 who earn more than £100,000 a year are three times more likely to have a prenuptial agreement than those aged over 45. Almost one in five, or 17%, of men under 45 have a prenuptial agreement, compared with 5% of over-45s. Two out of five men aged under 45 said they did not believe in a 50-50 division of assets with their former wife. Three-quarters of these said that because they made a greater financial contribution to the relationship they should be entitled to a larger proportion of the assets.
The findings suggest that younger men are taking a more hard-nosed approach to marriagethan their parents. Lawyers said it was an eminently sensible approach. “Given the divorce rate, it is concerning that many [men] are unrealistic, and I would advise them to think seriously about taking safeguarding measures such as pre- and/or post-nuptial agreements,” said Barbara Reeves, partner of Mishcon de Reya.
Prenups are a smart idea in this age of innocence lost. Marriage is not what it used to be. Sometimes, I wonder why anyone bothers. It is more of a liability than anything else, especially for men who are often stuck with huge financial burdens, as they are more likely than their wives to be the ones to pay through their back teeth. Look at Mel Gibson. He could practically owe Oksana Grigorieva alimony! And they weren’t even married. They supposedly had some kind of cohabitation agreement and of course, she had his baby. But at the rate at which things are going, he’s going to be paying through the teeth regardless! Plus, once the divorce with his wife is finalized, he’s going to have to pay her through the teeth as well.
It is smart for guys to insist on prenups.
So, here is the list of “divorce deals” of the rich and famous a la UK Guardian. What do you think?
? Actress Amy Irving won $100m from Steven Spielberg in a divorce settlement in 1989 after a judge ruled that the couple’s prenuptial agreement was invalid. Irving had not been represented by a lawyer when she signed the agreement, which was allegedly scribbled on the back of a paper napkin.
? John Kerry became the first presidential candidate to have signed a prenuptial agreement after marrying Teresa Heinz in 1995. Heinz is estimated to have inherited $500m after the death of her former husband, Senator H John Heinz III, the heir to the Heinz company fortune.
? Britney Spears was so sure of the love she shared with dancer Kevin Federline that she was reluctant to sign a prenuptial agreement before they married in 2004. But after advice from her aides and a message from Donald Trump, she agreed to sign. When their two-year marriage broke down, Federline was awarded just $300,000 of Spears’s estimated $100m fortune.
? Katie Holmes’s father, a divorce solicitor, represented her in a prenuptial agreement with Tom Cruise on their marriage in 2006. For every year that Holmes remains married to Cruise, she will accrue $3m, up to a maximum of $33m. If the marriage lasts longer than 11 years but then breaks up, Holmes will be entitled to half of Cruise’s fortune.