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Celebrities make good use of prenuptial contracts in divorce

Most celebrities are probably well-informed about the value of pre-nuptial agreements. The law regarding prenuptial agreements is pretty much the same in Mississippi and other states. A prenuptial is a contract that is entered into by two persons prior to marriage but in contemplation and in consideration thereof. The agreement sets forth the ownership of each party's assets and says whether those assets are subject to equitable property distribution in the event of a divorce.

A prenuptial is an enforceable contract that can be invaluable in protecting the assets of the wealthier party from the grasp of the other just in case things don't go right. The only major exception to the contract's enforceability is where the wealthier party has not provided full disclosure of his or her assets and income prior to the signing of the contract. That would be tantamount to fraud and would provide an escape from the prenup.

One celebrity who's been around long enough to know the value of a prenuptial is Clint Eastwood. After 17 years of marriage to wife Dina Eastwood, the couple has moved for a divorce in a California court. Despite the alarmist chatter in the gossip publications indicating that Clint was playing dirty, actually everything will probably go according to the tight script contained in the prenuptial contract.

The parties do have a child custody conflict over their 16-year-old daughter, with Clint asking for joint custody and Dina claiming primary custody for herself. A prenuptial cannot wipe out child support obligations, and that may be why Dina is claiming primary custody. However, the issue doesn't appear to have a long shelf-life and will likely be settled in the short-term.

For one thing, a 16-year-old may be generally be able to choose her time commitments during the aftermath of a divorce. At age 18, she'll be an adult who can decide where she'll spend her time. In that context, a major battle is probably not worth it. Even if Clint were made to pay child support for the remaining 24 months of the girl's minority it would be a small price in comparison to the great savings won by the prenuptial. These general principles also apply in Mississippi.

Source: Latin Post, Clint Eastwood Divorce & Children: Movie Star Gearing Up For Custody And Spousal Support Battle, Matthew Reis, Dec. 23, 2013

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