5 Ways sports stars can avoid losing wealth after divorce

Divorce can be a costly process, especially for sports stars who often have significant wealth, high-profile careers, and public attention.

On the back of rumours that Manchester City manager Pep Guardiola has reportedly had half of wealth given to Cristina Serra, his wife of whom he had been together with for 30 years, many have questioned why he couldn’t avoid that.

And even though these reports are unsubstantiated and probably just gossip, there are other sports stars like Ivorian star Emmanuel Eboue who lost almost everything to his wife.

These instances are not rare, but how can sports stars protect their wealth?

Here are five different ways:

1. Pre-nuptial and post-nuptial agreements

A prenuptial agreement is one of the best strategies to safeguard wealth. This premarital contract can specify how assets will be allocated in the event of a breakup.

A post-nuptial agreement may be created once the marriage has already occurred. By defining the distribution of assets, such as income, investments, and real estate, these contracts facilitate a more seamless and predictable divorce procedure for athletes.

2. Separate assets

Another crucial step is to maintain distinct assets. Ideally, any assets, ventures, or enterprises that were obtained before to marriage should be kept apart.

These assets may not be taken into consideration for split after a divorce if they are kept in separate names and kept apart from joint accounts.

Keeping thorough records of the time and method by which these assets were acquired is also beneficial to sports stars and could save these sports stars in the event of divorce or separation from their partners.

3. Establishing trusts

An extra degree of security may be offered by a trust. Sports celebrities can make sure that their wealth is kept apart from their personal belongings and is less likely to be divided in a divorce by putting assets in a trust.

For trusts to be properly constructed and legally enforceable, they must be established under the supervision of a financial advisor and a legal specialist.

4. Insurance

In the case of a divorce, obtaining the appropriate insurance products might provide financial security.

The sports star's future earnings can be safeguarded by income protection and life insurance, which can offer stability and assist in paying any possible financial settlements.

5. Legal and financial advice

Finally, it is essential to seek professional counsel. A sports star should work closely with legal specialists who understand divorce law, as well as financial gurus who can help manage and protect wealth.

Proper planning can guarantee that a divorce doesn’t lead to substantial financial consequences.

These strategies can help sports stars mitigate their losses after divorce. Or they can also use the Hakimi principle.”

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