The Instagram post of Travis Kelce’s engagement to Taylor Swift has taken over the Internet. Even though Swift sings in one of her songs, “I like shiny things, but I’d marry you with paper rings,” Travis presented her with a $650,000 diamond ring. When high-profile couples marry, each with their own significant wealth, there is always the question of how to protect themselves if the marriage ends.
How Much Is Taylor Swift and Travis Kelce Worth?
Forbes estimates Swift’s net worth from music royalties, the epic Eras tour, real estate holdings, and endorsement deals with Target is around $1.6 billion. Travis Kelce is no slouch either. As a three-time NFL Super Bowl champion, tight end for the Kansas City Chiefs, and co-host of the New Heights podcast, Kelce’s net worth is estimated to be around $70 million.
Because Swift and Kelce have such large fortunes going into the marriage, they should seriously consider the legal tools, such as a prenuptial agreement, to protect their wealth.
What Is a Prenuptial Agreement?
A prenuptial agreement, also known as an antenuptial agreement, is a contract signed by both parties before a marriage takes place that outlines the separation of property and division of assets should the marriage end by divorce or death.
Criticisms of Premarital Agreements
While critics may think such agreements are unromantic, it is healthy when a couple can work together for an amicable separation should the marriage end. Much like making a last will and testament is not likely to hasten your death, a premarital agreement is rarely the cause for the termination of a marriage. They are especially helpful in second-marriage situations where each person has children from prior marriages and wants to provide for them.
Where Prenuptial Agreements Are Helpful
Prenuptial agreements are a good idea for couples with a blended family. For example, a couple wants to marry, but each has children from a prior relationship. If they marry without a prenuptial agreement and one spouse dies, the surviving spouse is often entitled to an elective share of the deceased spouse’s estate. The elective share could be up to one-third of the estate. With a prenuptial agreement, the couple can waive their right to the elective share, and if one spouse dies, their deceased spouse’s estate will go to their children. The surviving spouse would not receive the elective share, but some other amount they agreed to together.
Premarital agreements are also helpful when couples have disparate wealth. One high earner will not risk losing their significant wealth in the event of a divorce.
Finally, premarital agreements help high-profile couples by providing conflict resolution and confidentiality. If the marriage ends, they have already determined their property distribution, eliminating the need for a nasty public divorce.
What Is in a Prenuptial Agreement?
The framework for a prenuptial agreement is to treat both parties fairly. Each party must present a full financial disclosure and not hide their wealth. In the agreement, they may detail the following:
- What is separate property, and what will be marital property
- Who retains rights to intellectual property (such as copyrights, music catalogs)
- Who retains rights to business interests (such as companies, podcasts)
- How future earnings are handled
- Restrictions on social media
- Confidentiality or non-disclosure (NDA) clauses
However, certain clauses cannot be included in a prenuptial agreement, such as child support or custody provisions or, in some states, waiving the right to alimony.
Each person must be represented by their own attorney to advocate for their interests. Also, no one should sign an agreement under duress or before the wedding ceremony. A family law attorney will guide their client on the prenuptial agreement process.
Will Taylor and Travis Get a Prenup?
Legal experts would agree that when a pop star and an NFL star wed, a prenuptial agreement would protect their assets and give them peace of mind.
Both Taylor Swift and Travis Kelce are shrewd business people. Swift famously re-recorded her own masters to give her exclusive rights over her albums and songs. Kelce has maximized his fortune with good business ventures, including his recent $100 million podcast deal with Amazon. It is reasonable to conclude they and their lawyers will work out an agreement that will benefit and protect both parties. It is possible to be in love and also understand the need for proactive legal planning to protect their assets.
Related Resources
- What Taylor Swift Gets Wrong About Inheritance and Estate Planning in “Anti-Hero” (FindLaw Law and Daily Life)
- Hiring a Prenup Lawyer (FindLaw Learn About the Law)
- Is Your Prenuptial Agreement Invalid? (FindLaw Learn About the Law)
