Celebrity Prenups

Market Watch reports that Katie Holmes and Jamie Foxx were spotted holding hands in Malibu – the first time they were seen together – allegedly because Tom Cruise had a clause in their prenuptial agreement prohibiting her from publicly dating another man after their divorce for a period of time.

Strange Prenup Clauses

There’s been an increase in so-called “lifestyle clauses” in agreements in recent years. The increase, and prenups and marital agreements are subjects I have written about several times.

According to Market Watch, there are agreements which penalize everything from cursing ($100 for each “f-bomb”) to weight gain (eliminating alimony for a woman if she gained 25 pounds from her wedding weight).

For most prenuptial agreements, however, “lifestyle clauses” typically don’t include such demands. The can include requirements that children born from the marriage be raised in a certain country, or under a certain religion.

Strange clauses in agreements can also spell out what can happen during the marriage. For instance, some contract clauses regulate whether one or both parties could cheat, as well as rules dealing with physical appearances.

There is a big question as to whether these lifestyle clauses are enforceable. One bride-to-be limited her future husband to watching one Sunday football game with friends a month.

Another marriage contract limited visits from the bride’s mother-in-law. An increasing number of people who co-parent even have special clauses that limit the amount of time their partner can spend online.

Florida Prenups

Many think prenuptial agreements are for the wealthy or famous. But, you don’t always enter a marriage with riches, or guarantees that the bliss will last. It might not be a bad idea to have a plan in place.

Prenuptial agreements, or “prenups,” are contracts entered into before marriage that outline the division of assets in case of divorce or death. They typically resolve things like alimony, ownership of businesses, title of properties, in addition to the lifestyle clauses of celebrities.

There are many other, more mundane, concerns that can be addressed in the contract:

  • Caring for a parent
  • Going back to school;
  • Shopping habits
  • Credit card debt;
  • Tax liabilities;
  • Alimony and child support from previous relationships; and
  • Death or disability.

Lifestyle Clauses

Arguments are a known predictor of divorce. In order to avoid that, it is better to discuss with each other the terms of a prenuptial agreement when times are good.

Difficult talks about lifestyle choices, in-law visits, and money can uncover things that could be disastrous if put off until several years into the marriage.

Outlandish demands, such as “no public dating” clauses, are much easier to secure in a celebrity relationship than that of the average case. Strange lifestyle clauses are unusual in your basic prenup.

But the issues are different for someone like Tom Cruise, who could put a clause like that in an agreement, and has the leverage to get it.

The Market Watch article is here.