Andre Romelle Young is a 55-year-old American rapper known as Dr. Dre. He has branched out in the music world from rapper and songwriter, to sound engineer, record producer and executive and entrepreneur. He is the CEO of Aftermath Entertainment and Beats Electronics. Previously, he co-owned Death Row Records. Dre’s net worth, according to Forbes Magazine is about $800 million.
In 1996, Dr. Dre married attorney Nicole Thrett. She is also the ex-wife of NBA player Sedale Thrett. The couple have two children together, a son (born in 1997) and a daughter (born in 2001). Both children are now adults.
Nicole Young and Dr. Dre are getting divorced. Young filed for divorce from Dre in June. They have been married for 24 years.
The divorce appears to be contentious, with both sides filing documents with the court with various allegations. In the latest filing by Young, she is seeking temporary spousal support of almost $2 million per month. She is also seeking $5 million in legal fees.
Dre filed a response to the divorce complaint alleging that the couple had a prenuptial agreement. He has petitioned the court asking for a determination of whether the pre-nuptial agreement is valid.
According to Young, Dre ripped up the prenuptial agreement after they were married. She alleges that Dre told her that he would not marry her unless she signed the prenuptial agreement. Even though she was afraid to sign the agreement, Young states that she unwillingly signed the prenup.
Young alleges that Dre destroyed multiple copies of the prenuptial agreement about two to three years after they were married. She said that Dre acknowledged pressuring her into signing the pre-marital agreement. The statements by Young remain allegations until a court hears the case and issues a ruling.
In court filings, Young alleges that Dre’s net worth is estimated to be about $1 billion. She also alleges that he earned much of the money during their marriage.
HIGH-NET-WORTH DIVORCES IN CALIFORNIA
The divorce between Young and Dre is a high-net-worth divorce. Most high-net-worth divorces involve issues that are unique to couples who have that level of wealth. For example, assets tend to be complex, including multiple real estate holdings, investment accounts, antiques, jewelry, and foreign assets.
Maintaining a standard of living after a divorce is another issue. While $2 million per month sounds outrageous for spousal support, the amount could be necessary to continue the standard of living Young enjoyed while she was married.
It is common for one spouse not to work during the marriage. Therefore, the spousal support could be higher in a high-net-worth divorce.
Property division is another common issue in a high-net-worth divorce. California is a community property state. All marital assets are divided equally between the parties during a divorce. The only thing that could change the community property rules is the existence of a prenuptial agreement or post-nuptial agreement.
If a couple has a valid marital agreement, the marital agreement may dictate a different division of property. The agreement could direct that property is divided 60-40 or any other percentage. The marital agreement could direct that specific property is to remain the property of either spouse, regardless of when the property was acquired.
A marital agreement could also determine whether spousal support is paid and how much spousal support is paid. Because high-net-worth divorces are complicated, high-net-worth couples often use pre-nuptial agreements to settle matters that would be issues in a divorce to avoid problems in the future if the couple decides to end the marriage.
WHAT IS REQUIRED FOR A PRENUPTIAL AGREEMENT TO BE VALID IN CALIFORNIA?
A prenuptial or post-nuptial agreement must be entered into before the marriage. If a couple enters a marital agreement after the marriage, it is called a post-nuptial agreement.
The courts in California have guidelines for pre-nuptial agreements. The guidelines for a valid prenuptial agreement include:
- Pre-nuptial agreements must be written, and both parties must sign the agreement.
- The parties can include almost anything in the agreement, except for illegal things.
- The pre-nuptial agreement should not contain any terms that attempt to impact child support payments.
- Provisions regarding spousal support could be invalid if the terms are unfair or the person waiving spousal support did not have an attorney.
- Pre-nuptial agreements that highly favor one party over the other party may be invalid.
- Both parties must willingly and voluntarily enter the marital agreement. Outside pressure or influence to sign the agreement can render the agreement null and void.
A prenuptial agreement can make a high-net-worth divorce less complicated, time-consuming, and costly. Parties can avoid a contested divorce by resolving matters that would be issues in a divorce with the marital agreement.
Even though you might have a pre-nuptial agreement, it is still in your best interest to talk with a divorce lawyer if you or your spouse decides to end the marriage. Problems could still arise. It is best to have separate counsel during a divorce to protect yourself.
WE WILL BE THERE WHEN YOU CALL
Property division cases are very difficult and complex to understand. If you are in a battle for your fair property division, you need an experienced child custody attorney to guide you through the legal process. Contact our law firm today at 562-439-9001 if you or someone you know needs the help of an experienced family law attorney. We will be here for you when you call. Schedule a free consultation!
We are very central to all of Long Beach, Seal Beach, Lakewood, Palos Verdes, San Pedro, Newport Beach; and regularly serve all of Los Angeles.
This is intended as general advice and should not be interpreted as legal advice. Each situation is unique and requires specific analysis of relevant contracts, facts and legal obligations.
WE WILL BE THERE WHEN YOU CALL
Divorce cases are very difficult and complex. You need an experienced Los Angeles Family Attorney to guide you through the legal process. Contact our law firm today at 562-439-9001 if you or someone you know needs the help of an experienced family law attorney. We will be here for you when you call. Schedule a free consultation!
We are very central to all of Long Beach, Seal Beach, Lakewood, Palos Verdes, San Pedro, Newport Beach; and regularly serve all of Los Angeles.
This is intended as general advice and should not be interpreted as legal advice. Each situation is unique and requires specific analysis of relevant contracts, facts and legal obligations.
