Kevin Costner’s Divorce Finally Settled

We recently wrote about actor Kevin Costner’s divorce problems, including his ex-wife refusing to move out of one of Costner’s homes. Now, the two have finally settled their divorce – but there were some interesting developments along the way.

In early September, according to TMZ.com, Costner’s ex-wife Christine Baumgartner was ordered to pay his legal bills regarding lawyer correspondence about their prenuptial agreement. Per TMZ:

As we reported, last month Kevin’s lawyer, disso queen Laura Wasser, asked Christine if she understood the Premarital Agreement she signed. It’s a significant question because there are signs Christine will challenge the prenup, and understanding it before signing it is relevant.

Christine and her lawyers essentially said they didn’t understand what “understand” meant.

There was A LOT of back-and-forth between lawyers, and Kevin’s bill for trying to squeeze an answer to the question amounted to $14,237.50.

On September 6, a judge ordered Baumgartner to pay the $14,000 in run-up legal bills. This is in addition to her losing her bid for $248,000 in child support. On September 1, TMZ also reported “The judge in Kevin and Christine’s divorce ruled Friday that Kevin’s going to be forking over $63,209 – that’s exactly what he said was appropriate. $63k is less than half of what she was getting in temporary support – $129k. And remember, she originally asked for $248k a month.”

In a later report out of TMZ, “The judge also made it pretty clear … the prenup would be enforced, and if Christine challenged it she would have to repay Kevin more than $1 million and pay his attorney’s fees for the prenup fight. Apparently, Christine saw the handwriting on the wall and agreed over the weekend to the terms of a 3-page settlement letter.”

Understanding premarital agreements

Baumgartner’s $14,000 legal bill illustrates why you should have a thorough understanding of your premarital or postmarital agreement.

A premarital agreement, also known as a prenuptial agreement or prenup, is a legal contract entered into by two individuals before they get married. This agreement outlines the rights and responsibilities of each spouse regarding their assets, debts, and other financial matters in the event of divorce, separation, or the death of one spouse.

Prenuptial agreements are legally binding contracts, but they are subject to certain legal requirements and limitations. For example, they must be entered into voluntarily, with full financial disclosure from both parties, and without any duress or coercion.

Some of the issues addressed in a premarital agreement include:

• Property division
• Spousal support
• Financial responsibilities
• Business interests
• Debt allocation

Why would I need a premarital or postmarital agreement?

There are many reasons why you might need a premarital agreement. Here are a few of the most common:

• You have significant assets. If you own a lot of property, money, or other assets, you may want to protect those assets in the event of a divorce. A prenuptial agreement can help you do that by specifying how those assets will be divided.
• You have children from a previous relationship. If you have children from a previous relationship, you may want to make sure that their inheritance is protected in the event of a divorce. A prenuptial agreement can help you do that by specifying how your assets will be divided and who will be responsible for their care.
• You are getting married later in life.If you are getting married later in life, you may have already accumulated a lot of assets. You may want to protect those assets by entering into a prenuptial agreement.
• You have different financial expectations. If you and your partner have different financial expectations, a prenuptial agreement can help you clarify those expectations and avoid conflict in the future.
• You are concerned about a prenuptial agreement being challenged in court.If you are concerned that a prenuptial agreement may be challenged in court, ensure it is drafted by an experienced attorney.

Ultimately, the decision of whether or not to enter into a prenuptial agreement is a personal one. There is no right or wrong answer. However, if you are considering getting married and have any concerns about your financial future, it is a good idea to speak with a Charlotte attorney at Epperson Law Group, PLLC about the pros and cons of a prenuptial agreement.

Here are some additional things to consider when deciding whether or not to get a prenuptial agreement:

• Your age and financial situation. If you are young and don’t have a lot of assets, you may not need a prenuptial agreement. However, if you are older and have more assets, you may want to consider getting one.
• Your partner’s financial situation. If your partner has a lot of assets, you may want to get a prenuptial agreement to protect your own assets.
• Your individual goals and expectations. What are your goals for the marriage? What are your expectations for financial matters? A prenuptial agreement can help you clarify these things and avoid conflict in the future.

The Charlotte family law attorneys at Epperson Law Group, PLLC can answer all of your questions about premarital and postmarital agreements, including how to enforce an agreement in court. When you’re ready to schedule an appointment with an experienced attorney, call our office or submit our contact form. We serve clients from our offices in Charlotte, Weddington, Concord, and Boone.