Word: prenups
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...know if you're one of those for whom a prenup makes sense? Most lawyers recommend them for individuals with their own or a family business, children from previous marriages or significant assets or inheritances they want to protect. But matrimonial attorney Raoul Felder, based in New York City, goes a step further. "If you're getting married today and you don't have one, you ought to go to a psychiatrist and not a lawyer," he says...
...decades at GE, JACK WELCH was widely considered one of the country's savviest businessmen. His prenuptial agreement, however, is unlikely to impress even a first-year M.B.A. student. The prenup expired after 10 years; his marriage to wife JANE WELCH lasted 13. Jane, 49, filed for divorce last week after Jack, 66, was caught in a rather public exchange of assets with SUZY WETLAUFER, above, former editor of the Harvard Business Review--an affair that began after Wetlaufer, 42, interviewed Jack for an article. Now Jane is free to pursue half the earnings her husband amassed during their marriage...
What ever happened to true love? Financially literate couples planning to walk down the aisle this summer are likely to consider first how their betrothed spent money as a teen, his or her credit-card balance, and the need for a prenup. Bubble-bursting stuff if you believe love conquers all, yet so practical that a cottage industry peddling financial advice to newlyweds has sprung up like a June flower, reminding us that half of all marriages end in divorce and that money is a main culprit. Several books on money talk for newlyweds have hit the stores, and there...
...fate of the nonfamous ex-spouse of a big star is, as LARRY FORTENSKY has found, a bitter one, especially when you've signed a prenup agreeing to get zip. Frustrated by the slow pace of his divorce from LIZ TAYLOR, Fortensky has filed for more spousal support and access to Taylor's records. "We're surprised and disappointed," says Neil Papiano, Taylor's lawyer. Counters Raoul Felder, for Fortensky: "We've gotten lots of charm, but it's going nowhere...