Kanye West and Kim Kardashian to enter prenuptial agreement
October 31st, 2013
Kanye West once so elegantly stated , "If you ain't no punk, holla
we want prenup." Well, Kanye, almost ten years later you get the
chance to show the world you "ain't no punk." A
prenuptial agreement is a legal contract that the husband and wife enter into before they get married that determines how much each party gets in the case of a divorce settlement. Prenups are generally used to protect yourself if anything should happen and the marriage fails. Think of them as a bet hedger. You are betting on the marriage to win but in case it loses you have a safety net to fall into.
Kanye and Kim have net worths of $100 million and $50 million, respectively, which isn't chump change. When they get married these pre-marital assets remain separate property. However, absent a prenup, all assets acquired during the marriage are joint property. Not only do they have the tangible assets including real estate, bank accounts, stock, and cash, but both are incredibly successful at marketing themselves and having a positive name brand association. This all can be protected in a prenup especially if a confidentiality agreement is also written in to keep their positive name brand from receiving negative publicity during and after a divorce. Surely Kim should know the importance of a prenup as her last divorce from basketball player Kris Humphries took almost two years to complete. A prenup would decide the asset division much quicker.
Hopefully, Jesus Walks (song title) and the marriage lasts longer than the 72 days Kim's last marriage did, but if it doesn't a prenup would keep both parties from looking like a punk.