Wednesday, December 9, 2009
Many are confused about the recent news reports that Tiger Wood's wife is considering negotiating a contract by which she would receive almost 100 million dollars for staying with Tiger for at least six years. Before you judge his wife too harshly, you should know that many couples have both pre and post nuptial agreements. Essentially these are legally binding contracts that couples enter into before or during a marriage which determines a variety of things including the distribution of assets assuming death, divorce, separation and yes, even infidelity. Most states acknowledge the validity of such agreements and when entered into properly they can be used to alter community property laws and other statutes which govern the distribution of assets in divorce proceedings. Many people believe that such agreements are some how inconsistent with traditional notions of marriage and the vow--for richer or poorer. But to the contrary, pre and post nuptial agreements can actually be just what the doctor ordered and may work to help keep some couples together. As of this writing, it looks like Tiger Wood's wife will have to decide if even a very generous post nuptial is enough to keep her in a marriage were this is admitted infidelity. Stay tuned.