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Prenuptial agreements can prevent loss during high asset divorce

Many New Jersey residents are aware of the recent passing of media mogul Hugh Hefner. The 91-year-old lived a life that was largely filled with controversy. He was the founder of Playboy magazine, and famously hosted celebrity-filled parties at his mansion. After his death, it has been reported that his wife, who is 60 years younger than he, will get nothing from his estate. She is rumored to have signed an ironclad prenuptial agreement to protect against losses in the event of a high asset divorce, and is not believed to be included in his will.

It is unsurprising that Hefner would have asked his blushing bride to sign a prenuptial agreement. She is his third wife, and there was widespread speculation at the time of their wedding that the entire affair was little more than a promotional stunt. Hefner has four children from previous unions, and his estate was planned to ensure that his heirs receive a portion of his fortune.

Additional assets will be distributed to a university film school and multiple charitable organizations. According to one source, Hefner's wife will be "taken care of." However, no details have been provided as to how that outcome might be achieved.

New Jersey residents may learn more about Hugh Hefner's prenuptial agreement and estate planning documents in the coming months. These precautions are not uncommon among wealthy individuals. Having protections in place ensures that assets are distributed as intended, whether through a high asset divorce or following the death of an individual.

Source: ajc.com, "Hugh Hefner's wife, Crystal Harris, signed 'ironclad' prenup, report says", Nicole Moschella, Sept. 28, 2017

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