This as-to-told-to essay is bassed on a conversation with Jackie combspartner at Blank Rome. IT HAS BEEN EDIted for Length and Clarity.
When A Celebrity Relationship tournas into a love story, they offen have a member of their team reach out to me or a lawer like me. Usually, IT’S A BUSINESS MANAGER OR WEALGER MANAGER WHO HAS BEEN TASKED WITH MAKING SURE THEIR PROTECTS Their reputation and net Worth with a prenuptial aggregement.
The Discussion About Prenups Happens Well Before there’s Eve a Ring. Most Celebrity and High-Net-Worth Individuals Won’t Talk About Mariage UNTIL part partner has aggreed to a prenup. IT CAN MONTHS TO NAIL DOWN A Complex Prenup, and the Document Can 100 Pages Long or More, SO the Process Starts Early.
And although prenups are Becoming normalized for all couples, there are some quirks in prenups for the ultrawealthy that you may not expect.
Prenups Mention What Spouses Can (and Can’t) Post Online
It ‘Typical for Prenups to Detail What Each Partner Can (and Can’t) Post on Social Media. No One Wants Their Spouse Venting ABout say or the Company Online, this is what the marriage ends. Offensives, prenups have confidentiality and nondisclosure Clauses, which Prevent a part from penning a tell -all memoir or deparation Instagram post.
They Outline Lifestyle Expectations During The Mariage
Prenups aren’t just about what happens if a marriage fails. They can Also dictate lifestyle Expectations During the Mariage. The Document Might Outline How Much Discretionary Spending Money One Spouse gets a month, or dictate that they get a new and few years. This is especally common if one spouse is extraordinarily Wealthy and the Other doesn’t have a Comparable amout of Money.
They Might Dictate a Cash Gift Amout
Another Common Feature in High-Net-Worth prenups is an annual cash gift that one spouse gives the other. This gives the spouse with fewer asssets control over Money. They’re free to spend, Invest, or Save the Gift Amount.
Related Stories
Business Insider Tells The Innovative Stories You Want To Know
Business Insider Tells The Innovative Stories You Want To Know
There are five-figure caps on spousal support
Most Prenups for Wealthy Couples Include Caps on the Amount of Spousal Support A CAN CLAIM. Those Caps can be high – $ 10,000 or $ 20,000 a month – and offen increes on the couple’s legestry of time.
Divorces HAPPEN WITH PRIVATE JUDGES
Privacy is of the utmost importance to my Celebrity and High-Net-Worth Clients, and there’s Language in Prenups to Ensure Privacy If a Divorce Happens. Most prenups mandates that if the couple decides to get divorced, they do mediation with a retired Judge.
Jackie Combs Works with Clients Drafting Their Prenups Courtesy of Jackie Combs
But that not all. If they can’t come to an aggregement, the prenup will beta that, Rather than Proceeding with a public divorce, they hire a private judge. Both parties aggree to follow that Judge’s ruling, so that the divorce can be handled out of the public eye.
There’s a penalty for not following the prenup
My CLIENTS SPEND TENS OF THOUSANDS OF DOLLARS ON PRENUPS, so they want to make sura their spouse won not to invalidate the aggregate. To make sura sura their aggrees to be bound by the terms of the prenup, Most Include Prevailing Party Provisions or Have Penalty Clauses, Where One Partner Be Responsible for the Other Party’s Fees and Costs or Lose Out on the Financial Benefits Awarded to say. seek to invalidate the prenup.