When the details of the basketball kingpin Michael Jordan’s divorce from Juanita Vanoy Jordan were worked out a few years ago, the ex-wife came away with custody of their three children, not to mention around $168 million and a seven-acre estate in the Chicago area. And without a prenuptial agreement, ol’ Mike’s wallet probably would have taken a lot heftier hit.
But prenups aren’t just for the moneyed sect of society. They can work for average Joes and Janes as well, provided they don’t envy such statistics as Khloe Kardashian’s prenup with pro hoopster Lamar Odom calling for a $5,000 monthly shopping budget and a $1,000 monthly beauty budget should their wedding bliss become history.
A recent survey by the American Academy of Matrimonial Lawyers says that 73 percent of attorneys saw an increase of prenuptials over a five-year span. A majority of those seeking prenups were women.
While not exactly the sort of concept to boost romance, prenuptials can benefit both parties, putting the terms of a split in the hands of those doing the splitting, not the courts or state. Again, this isn’t just for “celebs.” Minneapolis-area attorney Jeff Hicken told the Minneapolis Star-Tribune that he’d worked out agreements for couples making some $40,000 a year, chump change for Jordan and those of his fiscal ilk.
“They’re the engagement ring of the 21st century,” said family law specialist Ed Winer to the Star-Tribune.”More people are looking at the agreements as a necessity.”
That’s true in Colorado, too.