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4
Dec

Tiger Woods Elin Nordegren Renegotiating Prenup? Why?

Posted by Brian Vertz Comments Off

The Chicago Sun-Times, Huffington Post, and The Daily Beast are reporting that Elin Nordegren, the wife of golfing billionaire Tiger Woods, is demanding that Woods renegotiate the terms of their prenuptial agreement after learning of Woods’ multiple infidelities. Under their 2004 agreement, Woods allegedly agreed to pay Nordegren the sum of $20 million if they should separate after ten years of marriage. The recent news reports claim that Nordegren is now demanding $55 million to stay with Woods for another two years, seven years in total.

If the reports are true, why would Woods agree to such terms?  The obvious answer would be “to induce Nordegren to commit to marital reconciliation.” Yet, a less obvious, perhaps more cynical answer would be “to let the negative publicity abate before announcing that the couple is divorcing.” By letting the media firestorm subside, even temporarily until the couple can make a plausible announcement about having attempted to reconcile, Woods might be able to preserve his valuable sponsorships. Pure speculation on my part, sure, but if his sponsorship worth hundreds of millions of dollars per year were at stake, wouldn’t it make sense to throw a little money her way?

Category : Family Law News | agreements | prenuptial | Blog
3
Jun

Once You Pop the Question, How Do You Spring the Prenup?

Posted by Brian Vertz Comments Off

Asking your fiance for a prenup doesn’t have to spoil the joy of your engagement. First, be sure to give your betrothed plenty of time to think about it. No one likes to be rushed. Next, try to put it in context and explain why you need a prenup. You might present the prenup along with wills, health care powers of attorney, living wills, insurance policies and other estate planning documents. Finally, encourage your fiance to hire independent legal counsel. You might even offer to pay the bill. Having separate representation will allow your loved one to ask questions that might be uncomfortable for you or your lawyer to answer. It also might ensure that your agreement is enforceable.

Category : Family Law News | Featured | agreements | prenuptial | Blog