Tuesday, July 20, 2010

Prenuptial Agreements: Smart Business Move Or A Bad Mix Of Love & Money?!?

One mostly overlooked footnote of Mel Gibson's audio tirade last week was Gibson's insistence that he was hurting for money. This struck me as odd, given the fact that The Passion Of Christ raked in a cool $600M. Gibson, who was worth around $900M at the height of his popularity, (deservedly) got his clock cleaned in a messy divorce from this wife. Still, how could this guy be crying broke. divorce or not?

Gibson's issue, like many rich folks, is that he didn't have a prenuptial agreement. Thus, he ended up paying dearly for the right to exit his marriage and shack up with that looney tunes Russian broad who's now making his life probably even more miserable. Gibson, of course, isn't the first guy to get cleaned out in divorce court. From Michael Jordan, to Kevin Costner, to Stephen Spielberg, to Rupert Murdoch (a cool $1.7B!!!), men have found themselves taking a perpetual "L" when resources are divided. Since many of these guys were already well on their ways to being wealthy, you could argue that with a prenup, they'd have at least protected some more of their hard earned money.

Of course, everyone isn't rich, nor is everyone a celebrity. But given the staggering percentage of all marriages that end in divorce court, and the fact that the primary breadwinner (male or female) usually gets got, part of me wonders if prenups aren't a better universal option for more people. If you're Donald Trump, you can prolly afford to lose a few hundred million. You'll still live comfortably with what's left. But if you're a dude making $45k/year, half! is gonna kick your a$$.

Personally, I don't believe in prenups. I don't think a marriage should be something that's as easy to get out of as a cell phone contract. Every relationship goes through tough times. Every one. And real talk, sometimes the fear of loss helps you keep things in proper perspective and stick it out. When we married, my wife made roughly twice what I made, and I wasn't a McManager myself. So, she had just as much, if not more to lose if something went bad. But neither of us ever remotely considered this as an option. 9 years and 2 kids later, I'm the family's sole breadwinner, and would probably get anally raped (!) in divorce court if it ever came to that. Needless to say, since I don't want to live in a van down by the river, I work that much harder to keep the Mrs. happy. Not that I wouldn't anyway.

Still, I'm just curious about what ya'll think.

Question: If you're married, do you have a prenuptial agreement? If you're single, would you insist upon getting one prior to being married?

Mel Gibson claims he is broke in latest phone rant [UKTelegraph]

blog comments powered by Disqus

Post a Comment

Note: Only a member of this blog may post a comment.