Back in the early 2000s, Hollywood stars Jessica Simpson and Nick Lachey were the epitome of America’s sweetheart, gracing television screens weekly on MTV’s “Newlyweds”.
Today, the couple has been apart for more than a decade. However Simpson raised eyebrows when she was quoted saying her marriage to Lachey was her “biggest money mistake” in a September interview with CNBC’s “Closing Bell” anchor Kelly Evans.
Divorcing with No Prenup
When the couple wed in 2002, they did not sign a prenuptial agreement. According to California state law, when a prenuptial agreement is not signed prior to a marriage, the divorcing couple must evenly divide all assets acquired during the course of the union.
Upon announcing their split in 2005, Simpson’s individual net worth had exploded to $35 million, due in large part to an array of endorsement deals and a booming clothing line, while Lachey made roughly $5 million after his band dissolved.
While the terms of the couple’s divorce were never publicly disclosed, Simpson was expected to have paid a significant sum in the settlement, given the fact that her professional endeavors had contributed a large portion of the couple’s joint earnings during the course of the marriage.
Prenuptial Agreements in California Divorce Cases
When getting married, couples rarely consider the possibility that the marriage is not built to last. But these days many, particularly those with valuable assets, do turn to ironclad prenuptial, or pre-marital, agreements – just in case.
When two people make the decision to divorce, it is not just emotionally taxing – it can also carry a heavy financial burden. The dissolution of marriage is a complex process, and it isn’t always amicable – issues like property division and spousal support can become hot-button issues that drag out divorce proceedings if an agreement cannot be reached.
Prenuptial agreements help protect individual parties and prevent costly litigation in the event that a marriage does end in divorce, by outlining provisions including:
- Division of debts
- Division of assets
If you or someone you know is looking to draft a prenuptial agreement prior to their impending marriage, there are attorneys in Southern California who specialize in crafting strong, ironclad agreements that protect your interests now, and in the future.
Carlsbad Prenuptial Agreement Attorneys
At Fisher & Van Thiel, L.L.P., our family lawyers understand the laws regarding divorce and prenuptial agreements in the state of California. Our attorneys can evaluate your situation to help determine whether or not a prenuptial agreement is right for you. We have extensive experience in drafting personalized agreements that give our clients the peace of mind that their assets are protected, in the event of a divorce.
If you would like to schedule an initial consultation with one of our attorneys, we invite you to call us today at (760) 722-7669.