With the announcement from Wendi and Rupert Murdoch that the couple will be divorcing, many people in Fort Lauderdale, Florida, have turned their eyes to watch. Rupert Murdoch is the owner of News Corporation, a major media outfit that is a global player and one of the biggest in the world. If he and his wife manage to settle out of court, the details of the divorce could be kept private. This could be possible, considering the rumors that the couple has a prenuptial agreement, as well as two postnuptial agreements.
Prenuptial agreements are designed to address the divorce before it happens, even before the wedding occurs. In such agreements, people often allot certain amounts of money or property in case the couple decides to split. Many consider this to be a good idea considering the rate of divorce in the U.S. Though most people would assume the prenups are for the wealthy and affluent only, they would be wrong - many couples have more assets and wealth than they realize. By waiting until a divorce to understand this, they are making a mistake. Fighting over property and assets could have been avoided completely with a proper prenuptial agreement. This allows the divorcing couple to move on much sooner than those without such a document.
In the case of the Murdoch divorce, Rupert is worth billions of dollars and could have put all of that at risk without a prenup. This is his third divorce and it is Wendi's second divorce, so both have been involved in the process before. By using these experiences to better understand the system and how it works, it is likely that both individuals will come out of this split much better than during their last ones.
If you are involved in a divorce and have a prenuptial agreement, you may need the assistance of a legal professional to make sure the document is held up by the courts. Not all prenups are created equally and some leave room for ex-spouses to contest the provisions.
Source: New York Times, "From a Prominent Divorce in the Affluent Class, Lessons for All" Paul Sullivan, Aug. 10, 2013