The recent wedding in Florence, Italy, between celebrities Kim Kardashian and Kanye West has drawn the spotlight to the issue of prenuptial agreements. Both celebrities are stars in their own right, and both have made their individual fortunes before tying the knot. Kim Kardashian is best known for her roles as a reality television star. Kardashian's new husband, Kanye West, rose to stardom as a rapper and has since earned a considerable sum as one of hip-hop's most profitable figures. They have even been called the most talked about couple in the world.
Something that a lot of people don't know about the mega couple is that their union was temporarily put on hold by something as seemingly trivial as a prenuptial agreement. The hassle began when Kanye West's management company started poring over his large catalog of intellectual properties. An expert in wealth management and estate planning said that it can be a daunting task to put together a list of all of the things for a celebrity prenup. For example, there are assets and property to list, as well as a full accounting of all business concerns. The pair eventually did get married in an opulent wedding, but only after a lengthy delay because of the concerns regarding the prenuptial agreement.
More and more people are entering into marriage later in life. Often, these future newlyweds have accumulated retirement accounts, stock portfolios and homes or property of their own before they met their significant other. It would be wise for them to seek the legal protections provided by a prenuptial agreement to preserve their hard-earned gains in the event the marriage is later dissolved.
Source: insurancenewsnet.com, "Keeping Up With the Prenuptials: The Kardashian/West Wedding" No author given, Jun. 10, 2014