American film producer Harvey Weinstein has been back in the headlines recently, although this time the focus is very much on his marital woes rather than his alleged misconduct.
Weinstein and his wife Georgina Chapman announced that they were separating in October, bringing an end to a relationship that had lasted just shy of ten years. However, neither of them appears to have started formal divorce proceedings so far.
The couple married in 2007 and have two young children together. There had been much speculation about whether the couple had signed a prenuptial agreement that would determine the terms of the split, and it now appears that such a document is indeed in place.
This was a sensible move on the couple’s part, because between them they have substantial assets to be taken into consideration, with Weinstein estimated to be worth around $250 million while Chapman, who is a successful fashion designer, is thought to be worth around $20 million, reports TMZ.
Under the terms of the prenuptial agreement, Chapman could be entitled to as much as $12 million, reports People.com.
This includes substantial amounts of spousal support, plus a housing allowance of $25,000 for each month of marriage. In addition, she is apparently entitled to receive a share of the marital assets.
Prenuptial agreements are often perceived as only being relevant for the rich and famous, but in reality they are useful future-planning documents that most couples should consider. Not only can they be used to set out how marital assets will be divided should the relationship break down, they can also cover other issues such as spousal support and ownership of family pets.
For expert legal advice on family law issues, including prenuptial agreements, then contact our specialist family law solicitors today.