A-lister or a C-lister, movie star or a music idol, no one does prenups better than celebrities – understandable when you consider what can be at stake. Over the course of just a few years, a successful celebrity can amass a huge personal fortune. And that’s without even taking into account future earnings, such as royalties.
Take me out to the game
Today, when a celebrity announces their engagement, eyebrows are raised if there’s no mention of a prenup, as was the case when reality TV star, Khloe Kardashian, and Lamar Odom of the LA Lakers got married. However, in the background, while the couple were enjoying their honeymoon, lawyers were hard at work putting the final touches to the marital contract. The resulting agreement stipulated that, in the event of a split, Khloe’s friends and family would still benefit from free tickets to Lakers games!
This happy couple organised their prenuptial agreement in time, and are still together, but things can go awfully wrong, if you aren’t prepared for a break-up.
A 50/50 relationship
When Mel Gibson split from Robin Denise Moore Gibson after his arrest in 2006 on a drink-driving charge, a lack of a prenup agreement cost him dearly. Although the couple refused to disclose the amount of the final settlement, under Californian law, the ex-Mrs Gibson would have been entitled to half of his $900 million estate.
As Justin Timberlake knows only too well, prenuptial agreements between celebrities often come with extra clauses. His agreement with partner, Jessica Biel, assures that she will get $500,000 should the singer ever be unfaithful.
What’s money got to do with it?
Of course, when it comes to breaking up, some couples do manage to keep affairs of the heart separate from their financial affairs. When Reese Witherspoon and Ryan Phillippe split, Witherspoon was earning around $15 million per film, while Ryan could only manage a meagre $3 million for his services. Under Californian law, he was entitled to half her fortune, but asked for nothing.
Love is the drug
Nicole Kidman wasn’t keen on a prenup when she married ex-cocaine addict, Keith Urban. However, on legal advice, she went ahead with an agreement that would give him $640,000 for every year they were together. However, a stipulation was included that stated, in the event that Mr Urban ever uses illegal drugs, he won’t get a cent.
Actress Roseanne Barr foolishly fired her solicitor when he advised she take out a prenuptial agreement before marrying Tom Arnold. Their split, just four years later, cost her $50 million. Clearly, as many celebrities have learned the hard way, in the event of your partner leaving, a prenuptial agreement could prevent your assets leaving too.