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George Soros is engaged again, this time to Tamiko Bolton, his girlfriend of the past several years.
This will be Soros's third marriage and Bolton's second so neither is new to the potential nastiness that can accompany the dissolution of a marriage.
Bolton runs a successful Internet yoga business but she's nowhere near Soros's billionaire status. That gives Soros many reasons to sign a prenup before the wedding.
A prenup agreement is a way of determining who owns what before the wedding even happens.
The agreement dictates how a couple's assets will be divided if they ever divorce and it does so while they still get along. That avoids nasty battles down the road when tempers are running high.
Soros lives in New York where the model of property division is 'equitable distribution.' This means that upon divorce the higher earning spouse generally gets more.
Still, a prenup could make the division easier.
When writing a prenup agreement, the couple decides how earnings, real estate, and other assets will be split if the marriage ends. The only thing left to determine in most divorces with a prenup is child support and custody. But for this couple that likely won't be an issue.
Prenup agreements are especially important for marriages where one partner is bringing a significant majority of the wealth to the relationship.
Money is a huge concern in divorce and can lead to hurt feelings on both sides. A prenup avoids fighting about money during this emotional period and can go a long way to ensuring that the couple remains friendly after a divorce.
Prenup agreements are generally private so if this couple signs one we might never know. One thing's for sure: without a prenup it can be difficult to divide property during a divorce.
Some might criticize us for 'ruining' the news that George Soros is engaged by talking about a prenup but there probably won't be a better time. Talking about money is always stressful, but it's easier when everyone is happy.
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.