1. Home
  2.  » 
  3. Firm News
  4.  » The Pitt-Jolie divorce and the likelihood of a prenup

The Pitt-Jolie divorce and the likelihood of a prenup

On Behalf of | Oct 4, 2016 | Firm News

Texas is a community property state, and this means that the shared marital property of people who divorce there will be split equally unless they can otherwise come to an agreement. This is also true in California, the state where Angelina Jolie has filed for divorce from Brad Pitt. However, observers believe that based on the fact that both were married before and had valuable assets prior to their marriage, they probably signed a prenuptial agreement.

Jolie and Pitt had been together for a dozen years and married for two. Since their marriage, they have between the two of them made about $117.5 million with Pitt earning the bulk of that. Jolie is also financially successful having earned more than $40 million. If the couple does have a prenup, then it probably covers property division. However, the homes they bought prior to their marriage, in New Orleans and France, are not considered marital property.

Jolie has also said she will seek sole physical custody of their six children. It is not yet clear whether Pitt will dispute this, but if he does not have the children for at least half the time, he may be ordered to pay Jolie child support.

Divorce can be a difficult time as people worry about their financial security and their children’s future. People should keep in mind that marital property such as retirement accounts may be split between them regardless of how much each has contributed. Other assets, including bank accounts, the family home and any investments, might also be split. People who are considering divorce may want to begin by visiting an attorney with as much information as they can gather about their overall financial information.

Source: Forbes, “Angelina Jolie And Brad Pitt Have Earned $555M Combined Since 2004. How Will They Split It?” Natalie Robehmed, Sept. 20, 2016