Friday, December 4, 2009

Divorce: "Prenups" and "Renups!"

This is not a celebrity gossip blog. And I am not here today to debate all the salacious issues in the ongoing Tiger Woods saga! Frankly, at this point, I wish the media would just leave this couple alone to work out their marital problems. Of course, that is unlikely to occur, isn't it?

But in today's post, I wanted simply to point out that the Tiger Woods "situation" has promoted the use of a new word in the English language: a "renup!" (Post-nups have been around for a while, but a "renup" is a little different)!

Everyone has heard of the word "prenup," which is short for prenuptial agreement. A prenuptial agreement refers to a pre-marital contract which allows a wealthy suitor to protect their fortune by limiting the amount of alimony, (or property division), which the poorer spouse can claim in the event of a divorce. (I've never figured out exactly how you would raise the idea of a prenup with your sweetheart prior to proposing marriage! Talk about killing the romance!) But from now on, after the Tiger Woods saga, everyone will also be talking about "renups," or renuptial agreements, which will refer to a prenuptial, or postnup, agreement which is re-negotiated by an aggrieved spouse after "Sluggo" has been caught "up to no good!" I suspect most wealthy men will, if given a choice, select a "renup," over a "post-snip!"

Not much good exists in the Tiger Woods situation. But I guess drafting "renups" will at least give some celebrity divorce lawyers greater job security!

1 comment:

  1. It is common for a divorcing couple to decide about dividing their property and debts themselves (with or without the help of a neutral third party like a mediator), rather than leaving it to the judge. However, if a couple cannot agree, they can submit their property dispute to the court, which will use state law rules to divide the property. Division of property does not necessarily mean a physical division. Rather, the court may award each spouse a percentage of the total value of the property. Each spouse will get personal property, assets, and debts whose worth adds up to his or her percentage. Visit Cheap Divorce for more information.

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