By now, most people in Texas have probably heard the news that tabloid mainstays Kim Kardashian and Kanye West are engaged. The reality star and musician have known each other for many years, have been together since last year and share a baby together so the engagement may not be a surprise to many.
This will be Kardashian’s third marriage and West’s first, so hopefully the celebrity mother will be proactive in avoiding some of the same mistakes that were made in her other relationships. Couples in Texas who are also engaged may also want to think about these same challenges, as they can have a significant impact on any relationship, whether it is your first or third marriage.
One of the primary concerns that will likely be addressed by Kardashian and West is their individual and substantial wealth. Both the reality star and the rapper have been very successful in their careers so they are each entering the union with millions of dollars that they have earned on their own. It is also very likely that they will continue to make money in their respective careers. In order to address the potential for a messy division of assets in the event that they eventually divorce, the couple, and others like them, may want to consider setting some boundaries and guidelines in a prenuptial agreement.
Since the couple also shares a child, some people may think that addressing child support in a prenuptial agreement may also be a good idea. In general, however, these matters and limitations cannot be defined in a prenuptial agreement.
But the couple may want to address any spousal support or alimony concerns in a prenup. Many couples choose to set limits on alimony, and may even have guidelines for which marriage-ending events could directly affect whether alimony can be pursued and how much money may be at stake.
It is not always romantic or easy to discuss these subjects before a marriage, but the reality is that about half of all marriages end in divorce. There is nothing wrong with working with an attorney prior to a wedding to discuss these and other matters. Ultimately, these types of agreements work to protect spouses and avoid some of the ugly battles that can come up during a divorce.
Source: The Huffington Post, “Kim Kardashian’s Marriages: Third Time’s The Charm?” Oct. 22, 2013