Money is often the source of many disputes for couples in Ohio and other states in the nation. Moreover, money is often fought over during dissolution and could be the basis for post-divorce issues. Whether a couple is wealthy or not, entering into a prenuptial agreement could help spouses avoid a messy divorce with regards to splitting money, assets and property. However, despite the usefulness of these legal documents, couples should fully understand the details of the prenup to ensure the validity and enforceability if a divorce were to occur.
According to recent reports, the divorce between comedian and actor Chris Rock and his estranged wife is becoming complex with regards to the amount of money Rock’s soon-to-be ex-wife is requesting. Reports indicate that she is seeking an enormous portion of her husband’s $70 million fortune so she is able to maintain the standards of living she grew accustomed to during their marriage.
The couple married in 1996 and Rock’s wife gave up her career in public relations in order to become a full-time mother. Chris Rock and his wife entered into a prenuptial agreement; however, the document included a sunset clause within the document. This means that the prenup expired and no amount of Chris’ fortune is protected by the prenuptial agreement.
An expired prenuptial agreement is essentially equivalent to not having a prenup at all. While some couples believe that having a prenup expire after a certain number of years is fair, others might discover that it could lead to more complex divorce and post-divorce issues. In these matters, it will most likely be at the discretion of the court to determine issues such as alimony, property division and decisions regarding children.
Those that are considering a prenuptial agreement, or are currently dealing with divorce issues regarding a filed prenuptial agreement, should understand the rights afforded to couples and spouses. This could help spouses take timely action, helping them to protect his or her rights and interests.
Source: Msn.com, “Chris Rock’s estranged wife wants how much in their divorce?” Mark Gray, June 15, 2015