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Lack of prenup affects Mel Gibson's divorce settlement

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Arizona residents are likely familiar with the trials and tribulations of the embattled movie star Mel Gibson. It has now been revealed that as part of his divorce settlement, which is considered to be one of the most expensive in Hollywood history, his ex-wife will be receiving half of his retirement benefits from the Screen Actors Guild and also a big portion of his retirement benefits from the Director's Guild of America. In addition to all of this, she will also be receiving half of the benefits the star accumulated during their marriage through their production company, Icon.

The two were married in 1980 and had seven children together. They separated in 2006 and their divorce was finalized in December. At that time, it was revealed that roughly one-half of the movie star's $800 million fortune would be awarded to his ex-wife.

Gibson and his wife didn't have a prenuptial agreement. A prenuptial agreement is a very useful tool when dealing with high asset marriages. If a prenup had been entered into by the parties, there could have been a significantly different outcome to this divorce.

Although prenuptial agreements are especially useful when dealing with the division of marital property and assets during a high asset divorce, they can be useful for those from all walks of life. They serve primarily to protect whatever one has accumulated prior to entering into the marriage. In this way, they can help to minimize any disagreement over property and asset division at the time of a divorce, and as such, they can also reduce the stress and costs associated with litigating these issues in court.

Source: The Huffington Post, "Mel Gibson Divorce: Ex-Wife Robyn Moore To Get Portion Of Retirement Benefits," Sept. 5, 2012

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