How a Prenup Could Have Saved Kenny G Millions in Spousal Support
Kenny G, the Grammy-winning saxophonist, has found himself in the middle of a legal battle over spousal support payments to his ex-wife, Lyndie Benson. The musician, who has paid approximately $3.9 million in spousal support since their divorce in 2013, is now fighting to end the payments, arguing that he can no longer afford the hefty $40,000 monthly spousal support obligation. How did he end up in this predicament? Likely, he did not have a prenuptial (or premarital) agreement.
In Kenny G's case, if he had a prenup, I reckon his attorney would have included the following:
Establish a cap on spousal support: negotiate a limit on the amount of spousal support he would be required to pay in the event of a divorce. This could have provided him with financial stability and predictability, allowing him to better manage his finances and avoid the need to revisit the issue in court.
Address changes in income and circumstances: include provisions addressing changes in the couple's financial circumstances, such as a decline in Kenny G's income due to reduced touring opportunities. In this scenario, the prenup could have stipulated that spousal support payments would be adjusted accordingly, preventing the need for legal disputes.
Encourage self-support: include provisions promoting self-support from both parties. In Kenny G's case, this could have meant stipulating that his ex-wife would be required to make reasonable efforts to become self-supporting, thereby relieving him of the burden of indefinite spousal support payments.
Determine the duration of spousal support: set a clear timeline for spousal support payments, potentially preventing the lengthy nine-year payment period that Kenny G has experienced thus far.
The takeaway from all this is that a well-drafted prenup could have established clear guidelines for spousal support payments, taking into account potential changes in income, assets, and circumstances. While a prenuptial agreement may not be the most romantic topic, it can provide valuable protection and peace of mind for both parties entering a marriage. In Kenny G's case, a prenup could have saved him millions of dollars in spousal support payments and avoided a drawn-out legal battle. If you're considering marriage, it's wise to consult a knowledgeable attorney who can help you draft a prenup that suits your unique needs and circumstances.
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