Prenup included $2 million engagement ring9-November-2011 Family Law By Simone Green
The public breakup of two high profile celebrities in 2011 highlighted how valuable assets can be specifically included in Prenuptial Agreements.
“Kim can keep her ring” so says Kris, but only if she pays him a handsome US$2 million! As the celebrity marriage between Kim Kardashian and Kris Humphries ends, it highlights for those of us on the sideline the wisdom of a pre-nuptial agreement (called a Financial Agreement in Australia under the Family Law Act).
A prenuptial agreement appears to have been a wise precaution. Did you know that in Australia, Financial Agreements can be made by de facto or married couples before, during or after the relationship? Financial Agreements provide certainty to the mechanisms and processes by which the parties can separate their affairs, if need be, with certainty.
Kris Humphries eventually auctioned the ring and received less than half its purchase price – US $749,000 in October 2013.
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