Whenever a famous or affluent couple files for divorce, the media immediately begins to buzz about how much money is at stake in a settlement. For some of these people, there is more money at stake in a divorce settlement than the average person will ever make in a lifetime. However, it is fairly common practice for wealthy individuals to take the time to sign a prenuptial agreement prior to hearing wedding bells. Georgia couples are encouraged to do the same, even if there is not an expectation of a lot of money at the time.
A major example in the news currently is the split between Rupert Murdoch and his third wife. His estate is valued at several billion dollars, making him one of the wealthiest men in the world. While it has not been publicly announced for certain that there was a prenuptial agreement in place, one would assume that based on the empire at stake, there certainly was.
Unfortunately, many people believe that prenups are only necessary for those who are currently wealthy. Since people’s circumstances change drastically over the course of their lifetime, it is important that specific financial arrangement are made at the onset of a marriage. For a couple who was married in their mid-20s, their circumstances can change drastically over the course of a 20 or 30 year marriage. It is important for couples to determine what property and assets will be considered marital and what should be considered separate.
While those in love claim that looking into a prenuptial agreement is essentially assuming that the marriage will end in divorce, Georgia couples can rest assured that such planning is necessary to their financial security. Such conversations early on can also help a couple plan their future investments and potential business opportunities. It is an important step in wedding planning that all couples should consider.
Source: Investment News, “Murdoch split points up need for strong prenups,” Darla Mercado, June 16, 2013