Now that billionaire Jeff Bezos is divorcing his wife MacKenzie, experts are debating how the couple’s separation will impact operations at Amazon and the Washington Post. In this blog, we explain how prenuptial and post nuptial agreements might affect Bezos’ divorce settlement.
Did Jeff Bezos Have a Prenuptial Agreement?
With an estimated net worth of $136 billion, Jeff Bezos is the richest man in the world, and his divorce has serious implications for the numerous companies he has financial interests in. If the couple never signed a prenuptial agreement, their divorce can be costly for people who have their investments tied up in companies like Amazon and the Washington Post. From whether Mackenzie will take a seat on board of directors or be able to advocate for management changes at these companies, the absence of a prenuptial agreement can be a huge detail in this particular case.
What Does a Prenuptial Agreement Do?
A prenuptial agreement dictates a couple’s property rights and legal responsibilities when they get divorced. The couple decides the terms of their agreement before they get married. Without a prenuptial agreement, the state will decide how the couple’s assets are distributed. If you live in a community property state, the “money earned by either spouse during marriage and all property bought with those earnings are considered community property that is owned equally by husband and wife."
Why Do People Use Prenuptial Agreements?
According to LegalShield.com, the number of members who execute prenuptial agreements has increased seven times in just the last year. One survey from the American Academy of Matrimonial Lawyers revealed that the number of clients looking to sign a prenup increased by 62% over the last 3 years. One of the biggest increases has been among engaged millennials.
Can You Challenge a Prenuptial Agreement?
Don’t think that just because you have a signed prenup you won’t have to go to court. A prenuptial agreement can be challenged for any of the following reasons:
- The agreement is unfair
- The agreement is missing key terms
- The agreement contains unenforceable terms
- The agreement crosses state lines
Family Law Firm in Charlotte
At Krusch Law, PLLC, we are here to assist with all of your family law matters. From drafting divorce agreements to making sure your prenuptial agreement protects your interests, our legal professionals are here to serve you. Let us take a look at your case today and put our skills to work for you.