Hollywood divorce teaches people about prenuptial agreements
Prenuptial agreements are a great way for people to protect their property and assets in case a divorce occurs later down the line. Anyone is able to obtain a premarital agreement, but it is often the wealthy who have one because they have so much to lose. With the wealthy more likely to obtain a prenuptial agreement, it should come as no surprise that there is a long list of Hollywood celebrities who have chosen to protect themselves. Even though there are many celebs who have prenups, there are others who may not. Like many legal matters, there is a lot that can be learned from celebrity divorces when they play out in public.
Ben Affleck and Jennifer Garner, who recently announced their divorce after 10 years of marriage, is one couple who is teaching the United States a bit more about divorce laws and prenuptial agreements. It is unclear, as to whether or not they have a prenup in place, but their divorce is showing how alimony can be affected by many factors including length of the marriage. This Hollywood couple has apparently been separated and headed for divorce for some time now, but have waited to file for a reason that is not yet known to the public. There has been speculation that this wait to file for divorce could be for one of two reasons: the divorce laws in California or a monetary benefit outlined in their prenup.
In many cases, the length of the marriage can affect how much one spouse will receive in spousal support. There is a divorce law in California that says that a 10-year marriage is considered long-term, therefore the spouse who is the lower wage earner may be able to receive more in alimony due to the length of the marriage. People also suspect that the two may have a prenup that states there is a monetary benefit that one spouse will be awarded if the couple stays married for at least 10 years. Garner, who was the one to file, may have intentionally waited to file because of the prenup or California law.
For those planning to marry and have questions about prenuptial agreements or their state’s divorce laws, a divorce attorney may be able to answer any questions that may arise during the divorce process. With there being special rules and laws that can affect alimony, people should be well-informed, so they can draft a prenup that is fair.
Source: Fortune, “What we can learn about prenups from the Ben Affleck-Jennifer Garner divorce,“ Laura J. Vogel, July 4, 2015.