Planning ahead is something that many people do on a regular basis. We plan for budgets, vacations, doctor's appointments and even retirement. But there are some plans that are harder to make. For example, many people may not want to make plans for a divorce before they are even married. However, this can be one of the most beneficial times to think ahead and make sure you are protected in the future.
Prenuptial agreements are completed before two people get married. They are intended to identify any individual assets and can determine how those and other assets including property, debts and investments will be divided up in the event that a couple gets divorced. Many people understandably do not want to think about breaking up before they are even married, but making these plans could end up saving a couple a lot of time and money.
Sergey Brin, who is the co-founder of Google, is likely pretty glad that he and his wife reportedly signed a prenup before they got married six years ago. Sources have been suggesting that he and his wife are no longer living together and may be headed for a divorce.
The couple is extremely wealthy and have both founded successful business ventures which have made millions of dollars throughout their marriage. Had they not put together a prenuptial agreement, Brin could have been at risk of losing his voting power and stock shares at Google, which are said to be worth about $21 billion. Hopefully the prenuptial agreement, along with the amicable nature of the alleged separation, will make the process of divorce easier on the couple if they choose to take that route.
It is important to remember that people do not need to be millionaires to have assets worth protecting. Couples all across Miami may want to consider drafting a prenuptial agreement before getting married as a way to plan ahead just in case a marriage does not work out.
Source: CNET, "Google co-founder Sergey Brin and wife reportedly split up," Dara Kerr, Aug. 28, 2013