Justin Bieber & Hailey Baldwin: What Part Of His $250 Mil Fortune She’ll Get Without Prenup

Leon Mindin, Esq. was featured in an article in Hollywood Life on October 4, 2018 regarding Justin Bieber’s surprise marriage to Hailey Baldwin. Check out the original article over at https://hollywoodlife.com/2018/10/04/hailey-baldwin-justin-bieber-prenup-money-marriage/

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Did Justin Bieber give Hailey Baldwin his fortune by saying ‘I Do’? After getting married without a prenup, a lawyer EXCLUSIVELY tells us what Hailey could get in a divorce.

In this day and age, it seems insane that a major celebrity like Justin Bieber, 24, would get married to anyone without a prenup. Yet, he supposedly wed Hailey Baldwin, 21, without such an agreement in place. Does that mean his estimated $250 million fortune is up for grabs if this marriage goes sour? “Hailey is not legally entitled to any of Justin’s premarital assets,” Leon Mindin, Esq., a New York family law attorney of the Law Offices of Mindin & Mindin, P.C., tells HollywoodLife.com EXCLUSIVELY.

“All of Justin’s premarital property remains his,” Leon tells HollywoodLife.com, “but his royalties from his music that get paid after the marriage are likely to be considered income and would be marital property. These royalties may very well count into his post-marital assets, which would have to be split in the event of a divorce. Every penny he makes after their date of marriage is considered marital and what is left after the bills are paid is their joint marital property.”

So, every penny Justin makes after Sept. 13, 2018 – the date he and Hailey reportedly tied the knot in a NYC courthouse – would be split in the event of a divorce. Leon does stress that the terms of the divorce would also be determined by which state they get divorced in. So, is there a way for Justin to protect his royalties? “It is likely that his money is wrapped up in trusts and other investments that are difficult to touch,” Leon says. ”Celebrities and high net worth individuals don’t get divorced like regular people. Everything financial is worked out in a settlement, the court battles are usually left when it comes to issues with kids.”

“This isn’t your average guy,” Leon adds. “He’s had very smart and experienced people set up his assets in a way to minimize his exposure to risk from lawsuits, divorce, etc.”

Would Hailey be entitled to any spousal support if they were to split? Plus, what happens if they have a kid? “If they have a child and Hailey was to seek child support in New York, Justin would have to support the child based on a formula, this is the case for almost all the states,” Leon tells HollywoodLife.com. “New York applies a formula based on the Child Support Standards Act. Child support would require Justin to provide a basic level of support depending on the needs and lifestyle of the child along with additional funds for add-on expenses such as necessary childcare, educational, healthcare and extracurricular expenses.”

Justin, according to Leon, would likely just settle with Hailey to provide child support. “This is definitely not a case you will see in family court.” As for spousal support?

“If Hailey is the less-monied spouse she can seek spousal support. In New York, it is known as ‘maintenance’,” he adds. “If her earnings are in the six figures, she might not be eligible for maintenance. Much like child support, maintenance is determined by a formula. The purpose of maintenance is to help divorcing people get back on their feet financially, I don’t know what her finances look like but I also don’t see this issue being litigated in open court.”

Millennial Prenuptial agreements on the rise

Millennial Prenuptial agreements on the rise - and it's not because they are making more money!

The number of 18- to 35-year-olds seeking prenuptial agreements is on the rise nationwide and we have definitely noticed it at Mindin & Mindin, but the reason behind it may surprise you. Millennials are more interested in protecting the what could be rather than the what’s there. Intellectual property such as films, songs, software and even apps that haven’t been built yet (rather than cash) are just some of what New York based attorney Leon Mindin Esq. is drafting up.

Leon Mindin Esq. sees this day in, day out. Mindin believes that more and more millennials choose for their property (currently in existence or not) to remain separate as they enter this new chapter in their lives.  That is why he believes that prenups are on the rise and will continue to be less of a taboo topic as couples approach the big day. Many of the previous generations did not protect themselves under the false belief that since they are not entering a marriage with significant assets, they should not draft such an agreement. Most people get married fairly young or at the on set of new careers before they have had a chance to accumulate significant assets or purchase a home. Within a few years of marriage, most people have established a steady career and income stream and are surprised how quickly that nothing turned into something.

However, living in an age of opportunity – whether it is from future earnings from a salaried job or from the creation of intellectual property, one should ALWAYS protect him or herself from what could be. 

““A prenuptial agreement is like an insurance policy, it’s a small price to pay to protect your financial stability. Get married, put it under your mattress and hopefully never have to look at it again.””

— Leon Mindin, Esq.

Leon Mindin says that in a perfect world, all marriages would survive – but since at least ½ of them don’t, you shouldn’t play the odds either. People are often surprised that a prenuptial agreement is not as expensive as they had thought. Most standard agreements are usually done on a flat fee basis for both drafting and review. If you are getting married soon, allow yourself a minimum of six weeks to have a prenup drafted, reviewed, revised and executed. If you find yourself on the cusp of marriage without a prenuptial agreement, pick up the phone and call us at 888-501-3292 or send us an e-mail through our contact page for more information.

Can I invalidate a prenup?

This question came up recently: "I signed a prenup before we got married giving up my rights to my husband's assets, however I gave the past 15 years to raising my sons and taking care of our home and do not have any money to my name. What can I do now? Can I invalidate this old prenup?" -Y.L.

Drafting a prenuptial agreement is great, However, it will not always be accepted by the court, depending on the agreement itself (its validity) and the circumstances surrounding it.

Amongst other things, changed circumstances can invalidate a Prenuptial agreement. 

The enforceability of a prenup can come down to “crossed t’s and dotted i’s.” Even the smallest of errors could render a prenup less than airtight.

There is a three prong test for determining enforceability of a prenup: (1) there was full financial disclosure; (2) that the party sought to be bound knew and understood the terms and conditions; and (3) that the agreement be fair and not unconscionable, i.e. that it not leave a spouse a public charge or close to it, or with a lifestyle far below what was enjoyed before or during the marriage. 

Upon establishing a change of circumstances, a spouse may apply to the court for a modification of the agreement.

In summary, there is no type of prenup that always stays air tight and iron clad. If there is a substantial “change of circumstances” then most courts will reevaluate a prenup under the standard of determining if the agreement is reasonable. The most common change of circumstances is a health condition, a loss of a job, or a failed business. The family courts try to fair, and if a spouse’s fortune has deteriorated since the execution of the prenup, then most judges will reevaluate the agreement and assess whether justice can still be achieved if it is enforced.

You can always call us at Law Offices of Mindin & Mindin, P.C. to take a look at your prenup and for legal advice on how to proceed with your matter. You can reach us at 888-501-3292 or by clicking here.