Early resolution of often-bitter high-asset divorce issues
Here in Nevada, a prenuptial agreement can resolve many divorce problems before the wedding bells ever ring. The problems that can be resolved in advance with a prenup include the division of community property and spousal support.
Clearly, a prenuptial agreement can be a useful legal tool to avoid litigation in cases where a marriage ends in a high-asset divorce. Of course, a prenuptial agreement cannot resolve issues such as child custody or child support.
We read recently of an impending divorce involving celebrity chef Bobby Flay and “Law and Order” actress Stephanie March. Flay owns the Mesa Grill at Caesars Palace in Las Vegas.
According to a media report, March is claiming in court documents that she’s a reason Flay has become so famous. She apparently says she taste-tested many of her husband’s recipes and helped with the design and ambiance in his many restaurants.
According to a report, she is due a $1 million payment, per their prenuptial agreement, as well as $5,000 in monthly spousal support.
The pair married in 2005, which is when they signed their prenup.
At Kainen Law Group, we believe both parties have reason to consider entering into prenuptial agreement negotiations. For the spouse-to-be with significant assets, the agreement can provide asset protection, including inheritance rights, and protection of real estate, securities, savings and a business owned prior to the marriage. For the spouse-to-be marrying someone with significant assets, the prenup agreement can provide a measure of security.
Please see our Las Vegas Marital Property Division page for more information.