Divorce of Tom Cruise and Katie Holmes Shows Benefits of a Prenup
While a divorce is never easy, the apparent ease with which Tom Cruise and Katie Holmes reached agreement on the dissolution of their marriage demonstrates the benefits of a prenuptial agreement.
Ms. Holmes initiated divorce proceedings on June 29th, and the couple, affectionately known as “TomKat” by fans, reached a divorce agreement just a week later after five years of marriage. Ms. Holmes gains primary custody of the couple’s 6-year old daughter Suri.
According to celebrity news reports, the actress will receive up to $15 million ($3 million for each year of marriage) under the terms of their 2006 prenuptial agreement.
Reaching agreement in advance of a marriage as to how assets, liabilities, and family obligations will be handled makes it easier for the parties to focus on achieving a mutually supportive marital relationship.
A prenuptial agreement, entered into before the marriage date, gives each party the comfort of knowing that their wishes are legally binding.
Common provisions in a prenuptial agreement address key factors such as:
- Property rights and obligations of each party for property owned by either party
- Property disposition in the event of divorce, death, or a separation
- Transfer of assets to children in a blended family
- Spousal support arrangements
- Treatment of any death benefits from a life insurance policy
- Estate planning
Child custody is almost always a highly emotional issue in any divorce. In this case Tom Cruise and Katie Holmes recently issued a joint statement stating, “We are committed to working together as parents to accomplish what is in our daughter Suri’s best interests.” They went on to say, “We want to keep matters affecting our family private and express our respect for each other’s commitment to each of our respective beliefs and support each other’s roles as parents.”
This was the first marriage for Ms. Holmes and the third for Mr. Cruise, who has two children with his second wife Nicole Kidman.
Click on the link to read more about the benefits of a prenuptial agreement.
Contact a Fort Lauderdale Divorce Attorney
If you have questions about a divorce or dissolution of marriage, contact Fort Lauderdale divorce attorney Marcy Resnik. You can contact her online or call her at 954-321-0176.