Man on the Edge: Money or Pets in Divorce?
Most dog owners would sooner give up their right hand than part with their precious pooch, and it's that unconditional love that's making one celebrity pre-nup so interesting. Miley Cyrus is one of the most valuable young celebrities around, worth about $130 million, while her fiance, actor Liam Hemsworth, only rings up at $20 million. No surprise, she's protecting her assests with a pre-nuptual agreement, but it's not just the cash she's covering. She's protecting her four-legged friends as well: in case the marriage goes sideways, she wants to keep both all the money, and her little dogs too.
It's not unusual for pets to be part of a marriage agreement. In fact, pet custody cases are up as much as 15 percent over the past five years. Generally, any property you bring into the nuptuals is considered yours in the divorce, but what about the pets obtained during the marriage? They become bargaining chips. And what if your pet is a few years old? Or sick? We don't like to think about it, but there is a monetary component to owning a pet. So, when push comes to shove, and you're in the middle of a nasty divorce settlement, which would you part with first: your cash, or your pets?
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