International divorce news
WSJ recently did a report about how the heirs of billionaires attend wealth camps hosted by Citigroup’s Private Bank (you’ve got to have over $10 million in assets for your kids to attend this camp). This camp has been going on for several years (according to the WSJ they have them in New York and London as well). Asia’s wealth camp this year’s camp took place in Hong Kong according to the publication. At the camps, the young heirs are taught about the “importance of prenups” and other wealth protection tips. Says WSJ:
Accordingly, students were advised to secure protection—in the form of pre-nuptial agreements. A divorce lawyer brought in as guest lecturer told students to be wary when a spouse wants to move to a jurisdiction where divorce settlements for the poorer party are generous, such as the United Kingdom or Hong Kong.
So if you are recently divorced and looking for billionaire sugar daddy or his/her spawn? You may want to just eschew Hong Kong and places like that because they are up to “gold-diggers” and probably won’t have a problem partying with you till the crack of dawn, but won’t be stupid enough to marry you without a prenup — unless of course they were goofing off during camp and were not paying attention to the lessons being taught by all those professionals that include high powered divorce lawyers from various jurisdictions.
But look, even billionaires have a heart and could fall in love with you. In which case, depending on how skilled you are, you may be able to get him/her to eschew the prenup all together and get married bare back. In which case if there is a divorce down the road, as a consequence of you doing the work upfront to get that prenup tossed, you will make out like a bandit because you obviously would have snagged a sugar daddy who didn’t have the foresight to protect themselves with well-inked contracts.
Hong Kong as a jurisdiction seems particularly unforgiving to billionaires who do foolish things like get married without proper prophylactic prenuptial agreements.
Tagged in: High Net Worth, Divorce News, International Divorce, Billionaire, prenups
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