Absence of prenup may cause pop star to lose half her fortune

Are you getting married? Have you considered signing a prenuptial agreement? Prenuptial agreements are one approach to control the financial aspects of your life in the event the marriage ends in divorce.

Florida residents should be aware of the importance of a prenuptial agreement before they enter into marriage. Prenuptial agreements can avoid future complications should a divorce occur and can prevent the loss of valuable assets in a divorce proceeding, which may occur in the case of Grammy Award winner, Adele.

Reportedly, Adele has separated from her husband, Simon Konecki, after three years of marriage. In the absence of a prenuptial agreement, the pop star may be required to pay half of her $180 million fortune to her estranged husband.

The situation could have been prevented had a prenuptial agreement been created. Such an agreement would specifically decide how the assets and income of either spouse would be divided in a divorce. Moreover, a prenuptial could legally separate properties owned, gifted, or inherited by either party prior to marriage or prevent properties owned after the date of separation from becoming joint properties. Similarly, debts, if any, could be kept separate and spousal support limited or waived.

A diligently drawn up prenuptial agreement not only makes property distribution easier in a divorce but also helps the divorcing parties protect their assets. They can help avoid high legal fees, the stress involved in property distribution, and confrontational battles. Although couples may choose to write their own prenuptial agreements, it is always wise to consult an experienced attorney when drafting legal documents.