Sometimes love doesn’t last quite the way you envision it. Take the story of socialite Kim Kardashian and New Jersey Nets star, Kris Humphries. Although the pair’s marriage didn’t last long, Kim, Kris and their lawyer did agree on a few things before they ever walked down the aisle.
Forbes reports that the ring was among the first big ticket items included in the divorce, which is to be kept by Kim, provided that she gives Kris the money he paid for it in the first place. Had the two been married several years, simply paying Humphries back for the ring could have showed significant profit for Kardashian if the ring’s value appreciated.
Of course, with a marriage that was over within a few short months, there are no child support issues here, but being that the NBA is on lockout, Kardashian’s cash flow was higher than Humphries’ was during the marriage. Without a prenuptial agreement, that career slowdown could’ve potentially entitled him to alimony.
While most New Jersey couples do make it considerably longer in their marriages than Kardashian and Humphries, money matters should not be ignored, especially when one of the partners is considerably better off financially before the two tie the knot. Based on agreements made before and during the marriage, as well as events leading to the divorce, there can be a lot of variance with the distribution of wealth, child support and alimony.
Yes, a wedding can put our heads in the clouds, but that is all the more reason to keep our feet on the ground. Taking into consideration the advice you get from family, friends and legal counsel can help assure that, in the event of a divorce, your wallet doesn’t break along with your heart.
Source
Forbes: “Keeping Up With the Kardashians: Marriage, Divorce and Taxes,” Kelly Phillips Erb, Nov. 6, 2011
