Elon Musk and his wife are headed for divorce again

It seems no couple is immune from the possibility of divorce. The rich, the poor, the happy, the disgruntled, the young and the old can all find themselves facing marriage dissolution and the divorce legal issues that can accompany it. It is important to handle these legal issues properly, as failing to do so could leave an individual in a tough financial situation, perhaps with limited or no access to children.

One famous couple may now have to confront some of these matters as they head into the divorce realm. Actress Talulah Riley has filed for divorce from her billionaire husband, Elon Musk. Musk, co-founder of PayPal, Tesla and SpaceX, had previously filed for divorce in 2014, but later withdrew the papers. This isn’t the first time the couple has considered divorce, as they actually divorced once, but then remarried. At the conclusion of their first marriage, Musk paid Riley $16 million in cash and assets as part of a prenuptial agreement. It is unclear at this time if their second marriage is subjected to a similar agreement.

Those who are considering entering into a marriage, or ending one, should carefully consider their legal options to give them the best possible chance of a favorable resolution. A prenuptial agreement can explicitly lay out how certain matters will be addressed in the event of divorce, which can provide peace of mind moving forward. If there is no prenuptial agreement, then a couple can still choose to enter into a post-nuptial agreement after marriage.

A post-nuptial agreement acts similarly to a pre-nuptial agreement. It simply is entered into after marriage. However, these agreements need to be crafted very carefully to ensure fairness and enforceability.

Source: Fortune, “Elon Musk’s Wife Files for Divorce,” Robert Hackett, March 22, 2016