The Chicago Family Law Blog

Paul McCartney To Be Married A Third Time, But Without Prenup

After proposing to his girlfriend of four years in New York, former Beatle Paul McCartney, 68, is now engaged to businesswoman and fellow divorcé Nancy Shevell, 51, reported Reuters. As some Chicago residents may have heard, the engagement will be McCartney's third, following the singer's sour divorce with his second wife, Heather Mills.

However, McCartney and Shevell will not be setting up a prenuptial agreement, according to the Daily Mail. Instead, McCartney's lawyers have prepared a simple, one-page document that states Shevell will not make any claims on the trust funds of his children in the event their marriage fails.

While the contract appears to be enough for the couple, many people may wonder why McCartney and Shevell would choose not to get a prenup. According to FindLaw, some of the benefits of having a prenuptial agreement include:

  • Setting apart what is marital and what is considered community property;
  • Avoiding court involvement in making decisions with property distribution in your estate plans; and
  • Documenting each spouse’s separate property and protecting it as such.

Despite these advantages, some couples, including those in Chicago, might decide that a prenup is not for them because of several downsides that also come along with the agreement, such as:

  • The timing may not be right, in which a couple can wait until after marriage and create a “postnup” instead; or
  • The fact a prenup does not include child custody or child support issues, because the court ultimately makes the final decision in such cases.

But in Paul McCartney and Nancy Shevell’s case, the reasoning for not having a prenuptial agreement may be much simpler.

“Nancy’s father is richer than God,” said one of Sir Paul’s friends in reference to the bride-to-be’s father, Mike Shevell. “She really doesn’t need [Paul’s] cash.”

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