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Learn From Their Mistakes: How These Famous People Lost So Much In Divorce

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House being pulled by frayed ropeIt’s important to plan ahead when entering a marriage, especially if you have significant assets, such as property or money, that you are bringing into the marriage. You should consider a prenuptial agreement to ensure that you retain the rights to certain property, or, if you are already married, you can consider a postnuptial agreement. However, everyone makes mistakes ”“ even those with the most to lose. Learn from the mistakes of these famous people to ensure that you don’t lose it all in divorce.

The Importance Of Preparation For Your Divorce

  • Kelsey and Camille Grammer. Kelsey Grammer was the highest paid actor on television during the 11-year run of “Frasier,” earning $1.6 million per episode toward the end. Shockingly, he did not sign a prenup with Camille. During the divorce, he requested that some of his earnings be declared separate property. His request was granted for the money earned during the first four seasons of “Frasier.” The rest was split 50/50. Kelsey should’ve known better ”“ it was his third divorce.
  • Mel and Robyn Gibson. Mel Gibson’s divorce from Robyn slashed his estimated worth in half due to California law. Because he had no prenup, Robyn made a cool $450 million.
  • Roseanne Barr and Tom Arnold. Interestingly enough, Roseanne actually fired her attorney for suggesting the couple get a prenup. Tom Arnold walked away four years later with $50 million.
  • Craig and Wendy McCaw. Craig was a billionaire thanks to a successful communications company. When he and Wendy decided to divorce, he claimed that his $1.3 billion was mostly his separate property, because it was generated through investments he’d made with his family members. Washington state, at the time, was a community property state ”“ so Wendy made off with $460 million, making her one of the 400 most wealthy people in the United States at the time.

The moral of these stories? First, always consider a prenup. Second, know whether your state is a community property or equitable division state when thinking about marriage (we got you, Coloradans ”“ we’re equitable division here).

Our Denver divorce firm can assist prospective married couples in the drafting of prenuptial agreements for the preservation of assets.