WE WANT PRE-NUP: How A Prenuptial Agreement Can Protect You When "I DO" Turns to "I DON'T"

Life & Love | By admin | 03/28/2013 | 11:07 AM EDT

When couples say, I do both parties fully intend to uphold their vows 'til death do them part. Unfortunately, such is not the case in 2013. According to the Centers for Disease Control and Prevention, over 50 % of marriages end in divorce and when the papers are filed, it is every man or woman for themselves. The latest couple in splitsville: Kordell and Porsha Stewart. Sources report that the retired NFL star filed for divorce from the 'Real Housewives of Atlanta' star earlier this week citing the marriage as "irretrievably broken." But what really has social media abuzz are his statements that his wife of nearly two years does not deserve spousal support because, [She's] an able-bodied person, earning income and is capable of supporting herself. And he may be right. In assessing the amount of alimony, if any, to award in a given case, Georgia state courts examine such factors as the duration of the marriage, the financial resources of each party, the contribution of each party to the marriage---this including services rendered in homemaking, child care, education, and career building of the other party---and each spouses earning capacity. Considering their marriage lasted less than two years and that Porsha is likely making nearly $300,000 per season as a cast member of RHOA, she may not walk away with much of his financial resources, if any at all. Moreover, if Kordell purchased their house prior to marrying her, then it is considered separate property, not marital property, and he keeps that too. Although it carries with it a negative connotation, a prenuptial agreement can make a difference, regardless if you're wealthy or middle class. In addition to ensuring your soon-to-be ex-spouse does not leave the marriage with all of your money, prenuptial agreements can also make sure that you leave the marriage with an equitable amount of resources. For instance, as part of his prenuptial agreement Michael Jordan, who's worth an estimated $650 million, has purportedly agreed to give his bride-to-be, Yvette Prieto, $1 million for each year they are married, if they divorce, which increases to $5 million per year after 10 years of marriage. A similar agreement in the Stewart's marriage could have helped Porsha hold onto her picture perfect life a bit longer. Instead, it is now left up to the courts to decide what is fair.

Would you be offended if your spouse-to-be asked you to sign a prenuptial agreement?

Stacy M. Allen Attorney and Counselor at Law

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Categories: Life_Love, Relationships

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