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Spitzer divorce shows benefits of prenuptial agreement

The initial perception that some people have of prenuptial agreements is negative. Those people may have the idea that a prenuptial agreement sets you up for failure. While it's understandable why some people may feel that way, the true benefits of a prenup can be seen in real-life examples.

One recent example is that of Eliot Spitzer, a former New York governor. Spitzer and his wife married in 1987 and until about six years ago, everything seemed relatively fine. But 2008 brought a scandal - Spitzer admitted that he frequented a prostitution ring, and then resigned his post as governor. Although this undoubtedly rocked the couple's marriage, his wife Silda stood by his side.

That’s until this year, at least. In January, the two apparently filed for divorce. The interesting part of the split is that the two had a prenuptial agreement. According to legal documents, Silda will get $240,000 in spousal maintenance each year for the remainder of her life (or until she decides to remarry). She will also get a lump sum of $7.5 million, as well as $100,000 annually to give to charity. Finally she will get the family’s Fifth Avenue home and have her living expenses paid for.

This is a great example of how a prenuptial agreement can benefit Florida couples. Because of the factors that likely played into the divorce, the process could have been full of fights and finger-pointing. Instead, things were laid out in the prenuptial agreement, likely making the divorce process much easier. 

Source: The Huffington Post, “Eliot Spitzer To Pay Ex-Wife Silda Millions In Divorce Settlement,” Brittany Wong, April 28, 2014

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