Friday, November 02, 2007

No easy divorce without pre-nup

When Sir Paul McCartney married Heather Mills, the famous beatle decided not have a prenuptial agreement as he thought it would kill the romance in the relationship. Experts say that one in three of all first marriages ending in divorce, and with 50 percent of second or third ones hitting the skids, a prenup is smart financial planning tool that can save painful heartaches later. A prenuptial agreement is a contract between two people about to wed that spells out how assets will be distributed in the event of divorce or death.

After four years of marriage which began in at a remote countryside castle in Ireland in 2002, the couple have spilt and are going through divorce proceedings. This divorce contest has become one of the most nasty break-ups in recent times. The British media has turned against Mills who is portrayed as gold digger, a fantasist, a liar, and a whore.

There are reports that Paul McCartney and Heather Mills have agreed a $100 million divorce settlement, it is believed the Beatles legend is worth an estimated $1.7 billion .

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