In Hollywood, nothing seems to last forever. Including most stars’ marriages. To protect themselves against a contentious divorce down the road, many A list couples (and other high net worth individuals) sign premarital agreements, otherwise known as prenups. A prenuptial agreement should be negotiated by lawyers and is a legally binding contract between a couple that addresses issues like separate property, inheritance, spousal support, etc…
Many of Hollywood’s most well-known couples have signed prenups worth millions of dollars! A few of the most notable include:
1. Britney Spears and Kevin Federline
When their brief marital union ended, K-Fed made off with a cool million bucks. He would have been entitled to untold millions more had a prenup not been in place!
2. Charlie Sheen and Denise Richards
Charlie Sheen and Denise Richards signed a prenup that awarded one spouse $4 million if the other one cheated! Cheating clauses in prenups are valid in California.
3. Liz Taylor and Larry Fortensky
Under the terms of his prenup with Liz Taylor, Fortensky becomes entitled to $1 million after the marriage was 5 years old. Apparently being married 3 times taught Fortensky a thing or two about astute financial planning! From Forbes.com: Five years later they called it quits. Fortensky, who signed a prenup before the wedding, reportedly received $1 million from Taylor.
4. Catherine Zeta-Jones and Michael Douglas
Catherine Zeta-Jones’ prenup with Michael Douglas entitles her to $2.8 million per each year the marriage remains in effect. When asked about the agreement Catherine stated: “I think prenups are brilliant.”
5. Keith Urban and Nicole Kidman
This star couple’s pre-nup allegedly nets country singer Keith Urban about $640,000 for every year that he is with movie start Nicole Kidman. However, there is reportedly a clause in the prenup that states if Urban, a former cocaine addict, uses illegal drugs he will not receive a cent of Kidman’s fortune that is estimated at around $150 million.
6. Khloe Kardashian and Lamar Odom
Khloe’s prenup with Lamar included a $5,000 monthly shopping budget and $1,000 monthly beauty budget, among other provisions.
7. Tiger Woods and Elin Nordegren
While their prenup limited Elin Nordegren to $20 million if the marriage lasted ten years, Tiger Woods reportedly revised the deal to $80 million after news of his philandering went public.
8. Steven Speilberg and Amy Irving
A great lesson in the importance of drafting a valid prenup, Spielberg allegedly scribbled his prenup with then-wife-to-be Amy Irving on a napkin. The judge threw it out (no pun intended), and Irving wound up with a $100 million payout.
9. Russell Crowe and Danielle Spencer
Under the terms of this prenup, Danielle Spencer received $15 million after three years of marriage to Russell Crowe. Any children from the marriage receive a $3 million trust fund.
To discuss how to protect your wealth with a properly drafted premarital agreement, contact the expert Los Angeles family lawyers at Walzer Melcher LLP today.