Reviews

Reginald Black

Feb 20, 2017

I can\'t say enough about Kathleen Gingrich. I needed her services at a very difficult time in my life. ...

Deb Hoffert

Feb 08, 2017

I can not say enough great things about this law firm. Everyone is extremely knowledgeable, professional and above all else ...

John Arena

Feb 01, 2017

Peter Russo and the staff at his firm have handled my personal and professional business for almost a decade. His ...

rick scott

Feb 01, 2017

Peter was easy to work with and handled my case first class. He was knowledgeable about my case (possible age ...

Jenn Spears Brenize

Feb 01, 2017

Peter is extremely knowledgeable and aggressive, yet even-tempered. He is professional, diligent, and compassionate, and responsive to his clients\' ...

Cliffeton green

Oct 30, 2018

Very professional knows what he\'s doing. Very good with people.

Karen Young

Oct 30, 2018

Mr. Russo gives very solid business guidance. He clearly understands the law but, more importantly, the needs of a business ...

Heather E Steavens-Jones

Oct 30, 2018

If you want a lawyer to give you guidance with your interests as a priority then Pete Russo is the ...

Tami Johnson

Oct 30, 2018

Pete and his team were exceptional in helping my husband and I buy our first small business. Couldn\'t have ...

Lori Keim

Oct 29, 2018

Peter is knowledgeable, caring and honest. I have found his advice to be more focused on what is right for ...

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How a prenuptial agreement could have protected a billionaire

For those in Harrisburg who have not heard, it is believed that the largest divorce settlement has recently been issued for $4.5 billion and millions of dollars’ in property. While the divorce did not happen in the U.S., much less in Pennsylvania, it can still serve as an important reminder for individuals entering a marriage with significant wealth to get a prenuptial agreement.

By working with a family law lawyer to create a prenuptial agreement or “prenup,” individuals can help protect the finances, assets and property they owned prior to getting married. In essence, a prenup allows for future spouses to determine how property should be divided in the event of a divorce. Generally, individuals will want to keep what they had going in and then equitablly distrubte what was earned while married, but couples can ultimately come up with whatever method of dividing their assets they want.

It is unknown if there was a prenup in this case or even if prenuptial agreements are recognized in Switzerland. It is somewhat unlikely that the couple would have had a prenuptial agreement, however, as they first met in university. Unless the billionaire already came from money, they probably met when they were on equal financial footing and, thus, may not have considered a prenup.

This is not to say that prenups are only for the extremely wealthy. Prenups can be useful for individuals who are getting married later in life, people who have children from previous relationships and, really, anyone. A family law lawyer can help to determine if a prenup makes sense given an individual’s circumstances.

Source: The Associated Press, “Russian oligarch faces $4.5 billion Swiss divorce,” John Heilprin, May 20, 2014