A Prenuptial Agreement Can Stop A Brief Marriage From Derailing Your Finances
In their best applications, prenuptial agreements can prevent divorce. You can sign them and then go forward with a marriage where you are honest with each other about finances, only for the prenup to corroborate what the parties wrote in their wills, thereby preventing disputes during probate. Prenuptial agreements can also be an acknowledgement of the all too obvious fact that life is uncertain; this marriage may or may not succeed, but whatever happens, both parties were in debt at the time of the wedding and will remain so for the foreseeable future. Meanwhile, people continue to use them for their original purpose, too, which is to protect their assets in the event of a divorce. High asset divorce is complicated with or without a prenup, but signing a prenuptial agreement can make the process much less painful. For help drafting a prenuptial agreement or interpreting a prenuptial agreement that your fiancé has asked you to sign, contact a Boca Raton prenuptial and postnuptial agreement lawyer.
Prenuptial Agreement Protects MC Lyte’s Music Catalog, but Only After a Divorce Battle
Lana Moorer is a recording artist who performs under the stage name MC Lyte. She became famous in the early 1990s as part of the first generation of women rap artists to achieve commercial success, and her music catalog remains valuable. In 2016, when she was 46 years old, Lyte met her future husband John Wyche on a dating site. Wyche, a Marine Corps veteran, owned business interests before his marriage to Lyte, but it is likely that Lyte’s assets were even more valuable, since music recordings continue to earn royalties indefinitely. Consider the news stories about Michael Jackson buying the Beatles’ music catalog in the 1990s and Taylor Swift re-recording her own albums in the face of losing the rights to her music catalog.
Lyte and Wyche married in August 2017, but they separated in early 2018, leading to a protracted divorce battle. Lyte filed for divorce from Wyche in August 2020, but their divorce only became final in January 2023. At issue was whether Wyche was entitled to all or part of Lyte’s music catalog. The court’s decision said that Lyte has the right to keep her music catalog, her “creative property,” and all royalties arising from it. The decision also listed other premarital assets Lyte gets to keep, including her bank accounts, her vehicle (a Subaru), and her term life insurance party. If the divorce court ruled on the possession of any real estate properties the parties owned jointly or separately, the Hip Hop DX website did not report on this.
Contact Schwartz | White About Prenuptial Agreements
Prenuptial agreements can help anyone, but they are especially useful to couples who marry late in life. A South Florida family law attorney can help you decide which provisions to include in a prenuptial or postnuptial agreement. Contact Schwartz | White in Boca Raton, Florida about your case.