Recent Breakups Show Importance of Prenuptial Agreements Notes Orange County Divorce Lawyer
Orange County, CA (Law Firm Newswire) January 17, 2012 - Recent Los Angeles celebrity divorces show how important prenuptial agreements are. The Kobe and Vanessa Bryant split does not include a prenuptial agreement, and thus Kobe stands to lose half of his fortune by not preparing ahead for the potential breakup. Added to that, he spent 10 years with his wife, so the courts will look at their marriage as a long-term one.
“This will give her rights to more spousal support, property rights, and assets,” said Orange County divorce attorney Gerald Maggio. “If a prenuptial agreement had been done, her rights to this substantial amount of money would have been limited. This is a good wake up call for couples looking to get married who want to protect their assets and years of hard work should their marriage break up down the road.”
With a 10-year-plus marriage, California divorce courts typically rule that a spouse is allowed to maintain a standard of living after the divorce. Permanent spousal support is thus more of a likelihood in these types of breakups. For Kobe, who is estimated at a net worth of $150 million, this will mean a large amount for spousal support.
“Getting a prenuptial does not automatically mean you will get divorced in the future,” said Maggio. “It just means you are taking a smart approach to your finances and assets that you bring to the marriage. Each person will clearly know their duties, responsibilities, and rights when this is done ahead of time.”
Each person in the marriage will have his or her own attorney review the prenuptial agreement to ensure it is fair to each side and legally enforceable. The agreement helps to resolve disputes and, especially for people who have been married before, helps define property divisions and business deals that are separate from the marriage.
“Full disclosure of income and debt is essential, as is the fact that both parties must enter into it freely and voluntarily,” said Maggio. “You do not have to make millions to have a prenup, you just need the desire to protect your assets that you bring into a marriage.”
The Maggio Law Firm
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
Call: (949) 553-0304
3750 University Avenue, Suite 670
Riverside, CA 92501
Call: (949) 553-0304
View Larger Map
- When Can A Custodial Parent Move A Child Out Of State?
During a divorce, parents need to take extra care when they are making custody arrangements for their children. The arrangements and custodial plan should include important aspects like the child’s health, education and welfare. It should also contain the physical presence of the child within a mentioned geographical location to protect the non-custodial parent’s visitation […]
- What To Do When Served With A Divorce Petition
The divorce petition is a legal document in a divorce that has been filed by the spouse who wants the divorce. The petition is an indication that one spouse is ready to dissolve the marriage and is waiting for his/her partner’s reply. It also signifies the start of a divorce proceeding. If you have received […]
- How Retirement And Pension Benefits Are Divided After A Military Divorce
For military service members, the pension is part of the many retirement benefits they receive after their service. For non-military divorces, retirement benefits and pension plans are also treated as property and get divided accordingly. Except for few changes, it’s not much different for military personnel either. In a court of law, a service member’s […]
See other news sources publishing this article. BETA | Tags: orange county custody attorney, orange county custody lawyer, orange county divorce, orange county divorce attorney, orange county divorce lawyer