As reported recently in a ‘very reliable’ gossip magazine, Kim Kardashian and Kanye West’s marriage is on life support right now, but don’t expect a Court showdown if they do go their separate ways.
Radaronline.com has learned the couple has hammered out an agreement on how to potentially divide their assets – including the kids – in the event of a split.
The benefit of a Financial Agreement
One would assume that Kim Kardashian would hold onto her cash worth millions as well, although this is not stated in the article.
We can only assume that Kanye would hold onto enough cash to make his life happy but not to the extent of Kim.
Kim has primary custody of the children, North and Saint. Kanye no doubt has visiting rights and will spend time with them.
A dignified resolution.
No fighting in the Courts. The Agreement spells everything out and their financial settlement will be in accordance with the terms of the Agreement. Minimum hassle. In Australia parties also have the benefit of financial agreements. They can be entered into whilst in a de-facto relationship, before marriage, during marriage and after a divorce.
Again the Agreement can set everything out which means a dignified resolution if a separation should occur.
The Agreement has to be specific in their terms. You would not want the parties to squabble for the meaning of its terms. Detailed drafting is essential in clear and precise terms.
If the Agreement has flaws or does not comply with the provisions of the Family Law Act then they can be overturned at great expense. It is best to have the drafting done properly in the first instance to prevent a fight between the parties in the future.
They are not simple documents. Refer to an article on our website on Financial Agreements for further details.
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