Love them or hate them, the Kardashian family and those who have married into the famous clan manage to stay in the headlines. Usually, the limelight is on Kim and her current love life. Lately, Khloe and her marriage to Lamar Odom has been under a microscope.
Now, the elder woman of the famous reality family, Kris Jenner, is facing her share of the publicity that her daughters usually endure. Last week, she and her fellow famous husband Bruce Jenner announced that they have separated. Based on the fame and successes of both parties, it is easy to predict that the probable divorce will involve the division of lots of money and valuable assets.
USA Today suggests that the estimated value of the assets to be divided between Bruce and Kris is about $125 million. Bruce’s athletic success has made him a legend, and Kris’ work related to her family’s TV and subsequent successes has built significant wealth.
Whereas today it has become more common for parties to create prenuptial agreements (particularly in cases of marriages involving significant assets), perhaps prenups weren’t as popular two decades ago. Bruce and Kris got married 22 years ago and, according to sources, never created a prenup or post-nuptial agreement.
Prenups are often created in order to protect two parties from going through what can be a long, even hostile process of property division should their union end in divorce. They can also protect parties’ wealth that they might feel shouldn’t be divided in the case of a split.
Will the Jenner divorce get ugly because of the reported lack of a contract? Surely the press will let us know, since one can barely go a day without getting a Kardashian-related update. We will be sure to post updates in the future about this high-asset divorce.
Those who are about to get married and want to prepare for the possibility of divorce in the future should talk to a family law attorney about prenuptial agreements and the protection that marital contracts can provide.
Source: USA Today, “Report: No prenup for Bruce and Kris Jenner,” Donna Freydkin, Oct. 10, 2013