Tom Brady and Gisele Bundchen have finalized their divorce almost as quickly as news came out that they filed for divorce. But how were they able to reach a settlement so quickly?
There were a few important factors that allowed Tom and Gisele to reach an agreement quickly, including participating in mediation prior to ever filing for divorce and remaining amicable, by all accounts (which will always speed up the process in a divorce case). However, the main reason their divorce remained uncomplicated? Reports say that Tom and Gisele signed an “iron clad” prenup prior to their marriage in 2009.
By signing a well written prenuptial agreement prior to their marriage, Tom and Gisele removed any question of how their assets would be divided in the divorce. This is important, not only because of their high profile status as a couple, but also because they are each independently worth hundreds of millions of dollars. Their prenuptial agreement likely addressed their net worth entering the marriage, their earnings during marriage, any properties already owned prior to or purchased during the marriage and spousal support. By having a prenuptial agreement that they both voluntarily signed and understood, there really was very little left for them to fight over, other than custody of the kids, which they agreed to share.
In California, couples can enter into a prenuptial agreement so long as they have fully disclosed all assets to the other party and are signing the agreement freely, voluntarily and with a full understanding of the terms. The prenup can address all aspects of property division, earnings, spousal support, etc. The only issues that are may not be addressed in a prenuptial agreement are child custody and child support. Tom and Giselle were able to deal with these two remaining issues without a long battle because they remained amicable and because they engaged in the mediation process, which can help parties resolve most if not all issues in a divorce without the contentious litigation that can often result.
Tom and Gisele’s divorce is a perfect example of not only the benefits of mediation and remaining amicable with your future ex, but primarily the importance of a very well-drafted prenuptial agreement. Even if you aren’t entering your marriage with the net worth of a superstar, it is impossible to predict what kind of wealth one may amass in the future, making prenuptial agreements important regardless of your current financial status.
At Argyris Mah, LLP, we have significant experience in drafting prenuptial agreements. Contact our office for a free consultation at 408-564-5674.