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Katy Perry, Russell Brand to divorce

When celebrities divorce, the stakes can be very high. This is primarily because substantial assets will most likely be involved. Many times, the dissolution of a high asset divorce will be governed by a pre-nuptial agreement. When there is no pre-nuptial agreement in place, the divorce will be subject to the laws of the particular state it was filed in.

Take for example the high-profile split between singer Katy Perry and her husband of just more than a year, comedian and actor, Russell Brand. Just after the holidays Russell Brand announced that their divorce is pending.

According to Forbes, Katy Perry has an estimated net worth of $44 million. Russell Brand, on the other hand, is estimated to be worth somewhere between $6 million and $15 million. Together, the two bought a Los Angeles home worth approximately $6 million at the time it was purchased.

Interestingly, when the two were first married, they wanted their marriage to be "normal." However, what normal meant to them included avoiding the topic of whether they should enter into a pre-nuptial agreement.

Louisiana residents of high net worth should realize that it would be normal -- and advisable -- to consider protecting their assets before they enter into a new marriage, whether or not the marriage ultimately ends in divorce. A well devised pre-nuptial agreement can protect not only your assets but the inheritance rights of children from previous relationships and guard other interests.

This celebrity couple filed for divorce in California, which is a community property state. This means that, absent a pre-nuptial agreement, both parties will be entitled to half of any assets that were acquired during their marriage.

Even though Perry and Brand were married only for a relatively small amount of time, the division of their marital assets will certainly be a key matter to address in this high asset celebrity divorce.

Source: The Huffington Post, "Russell Brand, Katy Perry Prenup?," Dec. 30, 2011

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