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LearnVest always seeks to educate and inform, but every once in a while, a financial matter hits the headlines and makes us go, “Huh.” Sometimes it even provides us a lens to learn about ourselves. In that spirit, from bad money decisions to financial lessons worth millions, consider our Money Mayhem your source of financial edu-tainment.
We’ve said it before and we’ll say it again: If you’re a high-earning woman, you should get a prenuptial agreement, which lays out exactly how you’ll deal with your joint finances in case of a divorce.
Katy Perry didn’t take that advice when she married bad-boy actor Russell Brand less than two years ago. Now—surprise, surprise—they’re in the midst of a divorce, leaving the question of money (and we’re talking a lot of money) not up to a document they both agreed on, but the vagaries of state law. Fortunately for pop princess Perry—who reportedly made $44 million between May 2010 and May 2011—Brand seems to be taking the high road: People Magazine reports that he will not be seeking his share of the money to which he is entitled.
How Much Could Russell Get?
At issue here is the fact that under divorce law, Brand is entitled to half of whatever Perry made during their 14-month marriage, and vice versa. Katy Perry has been cleaning up on the charts since they walked down the aisle in October, 2010, while Brand hasn’t been doing quite as well in his own career. (Could this love-torn-asunder be a case of Heidi Klum Syndrome?) So Brand could legally walk away with around $20 million, just for being Perry’s husband for a year.
Nice gig, if you can get it.
What You Can Learn
Perry is fortunate that Brand reportedly won’t lay claim to what she earned, but not everyone is so lucky. If you’re the high earner in the relationship (or might be sometime soon) it would behoove you to at least consider a prenup. Prenups aren’t unromantic, they’re smart! And as we can see from Perry’s close call, they can be a girl’s best friend in the already stressful time of divorce.
More From LearnVest
Find out more about prenuptial agreements, and when you shouldn’t get one.
You can actually make money off your breakup, with this new website.
Mothers who are busier at work are actually happier with their marriages. Find out why.
Photo credit: Samantha Sekula/Flickr
