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The importance of "prenups," especially in high asset divorce

It appears things are over, again, for actress Talulah Riley, star of "Pride and Prejudice" and HBO's hit show, "Westworld" and technology billionaire Elon Musk. Reports claim that the actress is leaving her multi-million dollar home in Bel Air, California. The couple have had a tumultuous relationship over the past few years, initially filing divorce papers in 2013, but still living together with their five children until late 2016 when Musk was seen with Amber Heard in July. Heard is in the midst of a divorce herself with celebrity star Johnny Depp. According to reports, the two are not formally dating, but their increased time together seems to suggest otherwise.

The 2,505 square foot home where the couple spent much of their early marriage together is worth over $3 million. The couple had upgraded to a new home in the neighborhood worth an estimated $17 million. Owning such a valuable home does not come as a surprise to anyone though, as Musk, CEO of Tesla Motors, has an estimated net worth of over a $1 billion.

Entering in a marriage with such wealth may put much of it at risk for a couple. It may be wise, as Riley and Musk have done, to create a prenuptial agreement between the two to assure that the worth and value of each person is protected in the event of a divorce.

For couples who do not have a prenuptial or postnuptial agreement and are entering into a high net worth divorce, it is important to protect your wishes and your assets with the right legal options. Failing to properly protect yourself may lead to an unfavorable outcome and a loss of the assets you spent your life earning.

Source: newseveryday.com, "Talulah Riley And Elon Musk: The Celebrity Divorce For The Second Time. Is This For Good?" Michael Davis, Nov. 16, 2016

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