Prenup Alert: Lamar and Khloe Sign One... Should You?

There's nothing like a celebrity wedding to capture your attention.  It's just like a wedding you may imagine for yourself, except not at all.  Beyond a few potential differences such as budget size, celebrity guest list, and paparazzi considerations-- there are also some larger legal implications that may separate you from your favorite A-lister walking down the aisle. 

But, there is something that you can pick up from following a celebrity nuptial.  And that is signing a prenup.  Take the latest "Mr. and Mrs." to grace magazine covers and television info-tainment programming, Lamar Odom and Khloe Kardashian.  The couple, who said their "I do's" in a ceremony in late-September, reportedly finalized a prenuptial agreement this week bringing them closer to being officially married.

Now though the Kardashian-Odom prenup reportedly includes provisions for a luxury home, high-end ride, and spending provisions to the tune of tens of thousands of dollars, a multi-million dollar bank account is not a prerequisite for signing a prenuptial agreement.

Here are a few considerations to mull over as you decided whether to sign a prenup:

• Prenuptial agreements safeguard separate property, can be written to complement an estate plan, predefine how marital and separate property will be determined, and can outline any unique agreements between spouses.
• A prenup can give reason to openly communicate about the awkward topics such as potential of divorce or separation and can individuals vocalize what would be important to them in those scenarios.
• Prenups can also be bad news for a couple.  It can create insurmountable tension for a spouses-to-be and may be a premature consideration if they do not have significant assets going into the marriage.
• Prenups can cover topics such as: retirement, tax considerations, joint accounts, savings considerations, providing for a surviving spouse, methods for resolving future disputes

If you find yourself pondering a prenup, start by taking the Prenup Quiz to determine if it is a good idea for you.  You can also take a look at the Sample Premarital / Prenuptial Agreement to get an idea of what one can look like.

 

Related Resources:

• Top 10 Reasons a Premarital Agreement May be Invalid (FindLaw)
• Do prenuptial agreements play a role in estate planning? (FindLaw)
• Prenuptial Agreements - An Overview (FindLaw)
• Prenups in the Downturn: Make Them Flexible (FindLaw's Law & Daily Life)
• High Net Worth Divorces (provided by Greenberg & Prince, LLC)
• Prenuptial & Postnuptial Agreements (provided by Stettner & Morris)