In Massachusetts and New Hampshire, any divorce proceeding can be complicated with various issues in dispute. If it is a high-asset divorce in which the couple has accrued significant assets, it is likely to have major strife. This is true even if there was a prenuptial or a postnuptial agreement created.
Many divorces in which people have vast wealth are somewhat comparable. Those who are in the early stages of this level of divorce might want to examine prominent divorces to know what to look for as their case moves forward.
Music entrepreneur and wife set to divorce and prenuptial agreement in dispute
The rapper and entrepreneur, Dr. Dre (given name Andre Young), is divorcing his wife. Mr. Young, 55, made his name in music before expanding by creating his Beats headphones that were eventually sold to Apple for $3 billion in 2014. His current net worth is estimated at between $800 million and one billion dollars.
Although the couple had a prenuptial agreement, Mrs. Young says that she was pressured to agree to it before the marriage and that Mr. Young tore it up saying it was no longer in effect after they had been married for several years. At the time, he was well-known as a rapper but had not achieved the level of wealth he now enjoys. She says that the agreement was made unwillingly and seeks a greater share of the couple’s assets than the prenuptial agreement stipulates.
Various properties and assets are part of a high-asset divorce
While most people – even wealthy people – do not amass Mr. Young’s level of wealth, those who are well off should be aware of parallels that could apply to their situation. There may be real estate, retirement accounts, vehicles, watercraft, aircraft, collectibles, items of sentimental value and businesses that have immense value.
These can be in dispute even if there is a prenuptial agreement. The prenuptial or postnuptial agreements are separate matters. If the signing party says there was coercion, there was no proper legal advice or the agreement is unfair, it could be called into question.
Given the complex nature of a high net worth divorce, the parties must understand their rights and be protected under the law. Discussing the case as soon as possible is key.