Prenuptial Agreement Will Likely Play Key Role In Cruise-Holmes Divorce

 Posted by at 4:17 pm  Estate Planning Information
Jul 032012
 
Prenuptial Agreement Will Likely Play Key Role In Cruise-Holmes Divorce

Katie Holmes, the actress and wife of Tom Cruise, shocked celebrity-watchers last week by filing for divorce while Cruise was away from the country working on a movie project.  Holmes’ petition was filed in New York and seeks full custody of the couple’s young daughter.  As this legal drama unfolds, a central issue will be the existence and terms of a prenuptial agreement between Cruise and Holmes. A prenuptial agreement is a contract between two people who are about to wed which spells out how their assets will be distributed in the event of their divorce or death.  Prenuptial Agreements More…

Estate Planning Lessons From The McCourt Saga

 Posted by at 3:25 pm  Estate Planning Information
Oct 182011
 
Estate Planning Lessons From The McCourt Saga

Many sports fans are familiar with the recent developments in the case between Frank and Jamie McCourt.  For those who have not followed the story, Frank McCourt is the current owner and chairman of the Los Angeles Dodgers, which he purchased for $430 million in 2004.  Jamie McCourt is his (soon to be former) spouse.  The McCourts have gone through a lengthy and, at times, messy divorce proceeding that has threatened Frank’s ownership interest in the Dodgers.  It has recently been announced that the McCourts have reached a settlement in their divorce case which involves Jamie relinquishing her claim to More…