Sometimes when the divorce of a high-profile couple is in the news, it can provide some lessons for Colorado spouses who are dealing with the end of their own marriages. A case in point is the divorce of Food Network chef Giada De Laurentiis and her husband, fashion designer Todd Thompson. The divorce was announced last December and became final recently.
According to a news report, the couple did not have a prenuptial agreement. If they had entered into one, De Laurentiis might have negotiated for a provision that she would keep all royalties from the many cookbooks she published during the time the couple was married. But they didn't have a prenup, and De Laurentiis now has to pay her ex-husband 50 percent of the net royalties. She also has to turn over 50 percent of the potential millions in future advances on several cookbooks currently in the works.
Of course, everyone has the right to make their own choices when it comes to deciding whether to have a prenup. It is very possible that De Laurentiis considered the risk but had her own reasons for choosing not to have a prenup, and her decision should be respected. Nonetheless, the outcome of the property division in this divorce might cause some people to consider the advantages of entering into a prenuptial or postnuptial agreement.
For high-earning spouses, a prenuptial agreement can minimize the risk of divorce leading to severe financial loss. Under Colorado law, a prenuptial agreement can define what constitutes marital property, and govern how property will be divided if the marriage ends. It can also contain provisions limiting or eliminating any obligation to pay spousal support. Bringing up the subject of a prenup may not be easy, but having one can help avoid a costly asset division dispute in the future.
Source: People.com, "Giada De Laurentiis Is Officially Divorced," K.C. Blumm, Sept. 3, 2015