Ben Affleck and Jennifer Garner have announced their divorce in a joint statement the day after their tenth wedding anniversary.
The Hollywood A-listers who married in 2005 have three children and according to many media outlets are worth over $150 million. However, according to numerous sources, although Affleck will live on the same property as his former wife to take care of the children, the couple have no prenuptial agreement in place.
Reports indicate that the couple will liaise with business managers and use a mediator when negotiating the terms of their divorce. The negotiation could be drawn out due to the high number of properties owned by the couple, the success of both individuals and other factors such as syndication income. Despite the potential negotiation, the couple will share custody of their children.
Prenuptial Agreement
Many people believe that prenuptial agreements are disrespectful and that by entering a prenuptial agreement they are admitting defeat before they have truly attempted to make their marriage or civil partnership work. However, just because something exists does not mean that it has to be used. A prenuptial agreement effectively ring-fences certain aspects of an individual's assets and protects interests in the event that a partnership ends in divorce or separation. Whether you be married, about to get married or are signing a civil partnership, we fully believe that you should consider or look into setting up a prenuptial agreement. Such agreements are drafted by solicitors and ensure that some of your assets are looked after regardless of how your relationship ends.
The Advantages of Prenuptial Agreements
Prenuptial agreements have become more common and popular due to their success, and their ease at ensuring everything is negotiated amicably. They remove any bitter negotiations or spiteful decisions in divorces as everything has already been negotiated or settled. Such agreements can make provisions for what each member should receive upon separation or divorce securing something that has been agreed upon previously by each party. Disputes and conflicts are often minimalised as a result of this. Prenups can be useful if there are multiple properties prior to an agreement or if one of the parties is wealthy. While many believe they are disrespectful, prenup agreements can allow both parties to know that the union is happening for the right reasons.
In England and Wales, prenuptial agreements can be overturned and are not legally binding if they are found to be unfair at the end of the marriage.
Prenuptial agreements can be tailor made for your circumstances and your situation. If you are from a wealthy background and want to ensure this is somewhat protected, or if you have been through a divorce already and want to avoid the legal battle, a prenup is ideal for you.
Contact Us
If you require the support or advice of one of our advisors in regards to divorce or creating a prenuptial agreement, contact our team of family lawyers today using our online contact form.
