» Recent Breakups Show Importance of Prenuptial Agreements Notes Orange County Divorce Lawyer

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.

Orange County Divorce Firm, The Maggio Law Firm

Orange County Family Law Firm, The Maggio Law Firm

“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.”

To learn more about the Maggio Law Firm or to contact a Orange County family law attorney, visit http://www.maggiolawfirm.com.

The Maggio Law Firm
Main Office
8105 Irvine Center Drive, Suite 600
Irvine, CA 92618
Call: (949) 553-0304

Riverside Office
3750 University Avenue, Suite 670
Riverside, CA 92501
Call: (949) 553-0304

View Larger Map

  • Requesting a Modification in Spousal Support
    There are several such divorce cases, wherein either spouse might want to request a modification in the amount of alimony he or she pays to the other partner. The state laws of California allow an individual to get his spousal support adjusted in due course of time only if the original court order does not […]
  • The Disposition of Student Loan Debt in a Divorce
    A student loan, nowadays, can be quite significant. It may very well run into six figures. A number of professional couples carry student loan debts from their college years. Now, in a divorce, just like the assets are divided, the debts have to be divided as well. The question is whether student loan debts are […]
  • Is Your Ex-Spouse Curbing Your Child’s Technology Addiction?
    When your ex-spouse and you share the physical and legal custody of your child, it is better to agree on a schedule for your child’s activities. For instance, you both can decide at what time your child should go to bed, how much playtime your child should have, how much time your child may watch […]

See other news sources publishing this article. BETA | Tags: , , , ,

Get headlines from Law Firm Newswire sent right to your inbox.

* indicates required