Write to Brett Arends at ©2022 Dow Jones & Company, Inc. "This may be the biggest paycheck of her life." "She won't be able to continue life as she has known it," says Michelle Smith. In other words, if you want an annual income of $1 million a year, you'd probably need a settlement of $20 million, if not more.īut if you do get divorced, be aware you are going to have to downsize your lifestyle from your days as Mrs. So you'll really need a lump sum of around 20 to 25 times your income if you want it to last a lifetime. As a rule of thumb, your investments ought to earn-at the least-4% over inflation over the long haul. Decide how much you really need to live on before you start negotiating.The courts will determine that based on his assets and earnings and the lifestyle the children enjoy at the moment, says A.J. Be aware that the prenup won't have any effect on what support Tiger will have to pay to support the children.Hill, but most times it's cheaper than a messy legal fight. One nonconfrontational option: so-called "collaborative divorce," in which the two parties hire lawyers, personal counselors and a neutral financial expert such as a CPA to help them sort through all the issues-but sign an agreement at the outset not to go to court. "Realize that you have that decision to make first." That means looking at nonconfrontational options, such as mediation, before you even think about going to war. Even if you do decide to divorce your husband, "choose how you are going to divorce first," says Mark Hill.But if Tiger pressured you to sign an agreement after the wedding invitations went out, say, or while you were picking out china patterns, you may have a case.
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"Prenups are usually unwound because there hasn't been full financial disclosure." Duress "is a little harder to prove," she adds.
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"Disclosure is about financial disclosure," rather than anything to do with behavior or proclivities, says Michelle Smith. Generally speaking, you have to prove you signed it under duress, or that you were a victim of fraud or incomplete disclosure. Be aware that even if you take it to court, trying to overturn your prenuptial agreement is going to be an incredibly tough challenge, no matter what your husband has done.Tiger Woods does not want to suffer any more damage in public. Your willingness to take this private and play ball is probably your strongest financial card-and can give you a lot of leverage. And by damaging Tiger Woods's reputation, it may be damaging all of their financial interests. This is turning into a public-relations fiasco, and that's bad news for everyone involved. "You want to prevent this from becoming any more public than it's become already," says Mr. Get this out of the public eye as fast as you can, and keep it there.That's a special concern here because the couple have two young children. And the divorce fight often ends up damaging the relationship far more than the breakdown of the marriage. Once couples get on the "divorce escalator," Mr. But that tends to push their spouse to hire an even more aggressive attorney." "They hire an aggressive attorney because they feel that will protect their rights more. Most people are hurt, angry or scared, he says. "Don't listen to your girlfriends and go out and get the most aggressive lawyer in your jurisdiction," he says. "Try to save your marriage if you can, and if you can't, explore your options." Mark Hill agrees. "My first recommendation would be: Take your time, go slow, don't do anything precipitously," says A.J. Don't give in to anger or rush your decision.