The Houston Family Law Blog

Celeb Divorce Lesson No. 78: Plan Your Finances Out in Advance

Let's cap the week off with some celebrity gossip. Well, let's not call it "celebrity gossip" but rather, "mistakes celebrities make when going through a divorce."

Earlier this week on the New York Estate Planning News Blog, we talked about the sad case of Gary Coleman and his estate battle, which incidentally stems from his odd marriage (which lasted for only a year).

The one mistake Coleman made was an estate planning mistake. But it outlines the importance of taking charge of one's estate plan prior to a divorce.

Gary Coleman was in a situation where someone needed to call the shots on pulling the plug. And who stepped up to pull the plug? His ex-wife, Shannon Pierce.

Sound weird?

It sounded weird to everyone involved. As a result, the issue went to court.

Now, all of this could have been avoided if Coleman had made matters clear before he filed for divorce.

Prior to filing for divorce, he should have created (or updated) his health care directive to state who could pull the plug.

Moving on to Ashton and Demi. Details are pretty vague as to why Ashton is putting up roadblocks in reaching a divorce settlement, but it's fair to say that his qualms are financial.

Let's speculate-- Demi walked into the marriage with a prenup, as we discussed in our prior post.

So, what's the issue?

Well, reports say that Ashton is being "cheap."

Perhaps this could have something to do with the fact that Ashton's potential wealth wasn't factored into when he signed Demi's prenuptial agreement. After all, at that time, Demi was the breadwinner and Ashton was a fresh celeb.

But now, Ashton is one of the highest grossing actors in television. So could that be the reason he's lagging on the divorce settlement?

Again, we're speculating, but had Ashton drafted a solid agreement prior to the marriage, would he have reached a settlement faster?

Why can't they all take a page from the TomKat divorce?

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