“Great lengths” have been gone to to protect both family’s huge fortune.
Nicola Peltz and Brooklyn Beckham tied the knot in April in a star studded ceremony.
However, before the pair said “I do”, they reportedly signed a pretty big prenup.
As Nicola and Brooklyn both have very wealthy families – Victoria and David Beckham have an estimated net worth of $498million (€448.7 million) and Nicola’s father is thought to be worth a whopping $1.7billion (roughly €1.5 billion) – it’s no surprise they would need to protect their fortunes.
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When it comes to two people from rich families getting married, it’s “extremely common” for a prenup to be involved, according to Adam Citron, a partner at Davidoff Hutcher & Citron at Davidoff Hutcher & Citron LLP.
He told Distractify: “Most ultra-wealthy people have lawyers with whom they regularly work, and given the amount of money at stake, [they] are likely to advise their clients to get prenuptial agreements as a matter of course.”
In this case, even though much of the money belongs to the parents and not the individuals getting married, issues could still arise.
“For example, a court will look at the lifestyle of a marriage in determining support and may input income to a party if it is determined that throughout the marriage, family funds were used on a regular and consistent basis to support the lifestyle of the marriage,” Mr. Citron explains.
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“Another example would be if the marital residence was purchased with separate property of one party. Without a prenuptial agreement, it would be very difficult to remove a spouse from that residence.
“However, with a prenuptial agreement, that issue can be dealt with and agreed upon. Pre-nuptial agreements outline exactly what is separate property and what is marital property. It sets a clear path and distinction.”
He continued: “Presumably, the prenuptial agreement has gone to great lengths to protect their individual, pre-marital separate property.”
Nicola and Brooklyn went all out for their wedding, exchanging vows in Nicola’s $76million family mansion in Florida.
Some social media users were quick to criticise the couple for their lavish and excessively expensive celebrations.
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