Tyrese's Divorce Shows Financial Pitfalls Of Failed Marriages

Singer/actor Tyrese Gibson's divorce proceedings with estranged wife Norma Mitchell point out how important a financial decision marriage can be for both men and women.

Their union lasted only 10 months, so how much is a 10-month marriage worth? In this case, a one-time payment of $65,000, monthly rental payments of $2,730 and an $800-a-month car payment thrown in for good measure.

That's what a judge decided Tyrese must pay Ms. Mitchell this week according to TMZ.com. On top of all this, Tyrese is also on the hook for child support payments of $6,230 a month until their daughter Shayla becomes an adult. His ex will also be in control of those funds, if not the direct recipient.

Tyrese reportedly made $800,000 during the 10 months the couple was "together." When added up over a similar ten-month period, the total court-approved payments total $162,600 -- and that is just the beginning. The costs will rack up further over time. But just for this brief period, that's close to 20% of what Tyrese made during their short time together. Apparently, the judge's decision wasn't generous enough, as the soon-to-be former Mrs. Gibson is contesting the prenuptial agreement she signed prior to the two taking their vows, "'til 10 months do us part."

If 20% of his earnings isn't enough compensation for a fast and failed relationship, what percentage is the right amount?

Hot Shots January 30, 2009

Jennifer Hudson is readied on the set of the new music video for her next single 'If This Isn't Love.' "So much has happened but she's ready [to perform again]," according to People.com.

RCA Records

Actor Brad Pitt and Angelina Jolie arrive at Narita International Airport with their children (L to R) Pax Thien, Knox, Zahara and Shiloh on January 27, 2009 in Narita, Chiba, Japan. Brad is visiting Japan to promote his film 'The Curious Case Of Benjamin Button.'

Junko Kimura, Getty Images

Actor Ralph Fiennes (far R) and actress Meryl Streep (C) the winner of the Female Actor in a Leading Role award for 'Doubt' walk off stage during the 15th Annual Screen Actors Guild Awards held at the Shrine Auditorium on January 25, 2009 in Los Angeles, California.

Kevin Winter, Getty Images

Rihanna performs at the NFL Pepsi Smash Super Bowl Concert held at the Ford Amphitheatre at the Florida State Fairgrounds on January 29, 2009 in Tampa, Florida.

Kevin C. Cox, Getty Images

Christina Milian and The-Dream attend Karen Kwak's birthday party at the Thompson LES on January 28, 2009 in New York City.

WireImage

Kanye West and Mischa Barton attend the Elie Saab fashion show during Paris Fashion Week Menswear Autumn/Winter 2009 at Palais de Tokyo on January 28, 2009 in Paris, France.

WireImage

Actresses Eva Longoria Parker (L) and Rosario Dawson attend the 15th Annual Screen Actors Guild Awards cocktail party held at the Shrine Auditorium on January 25, 2009 in Los Angeles, California.

Kevin Winter, Getty Images

WNBA athelete Lisa Leslie and singer Keyshia Cole attend the 17th Annual Trumpet Awards at the Cobb Energy Performing Arts Centre on January 25, 2009 in Atlanta.

WireImage

Actor Forest Whitaker attends a special screening of the Documentary 'Kassim The Dream' hosted by actor Forest Whitaker Citi, GQ Magazine and The Gentlemen's Found on January 29, 2009 at the Arclight Theatres, Los Angeles, California.

Frazer Harrison, Getty Images

Miss Jackie Geist, Miss California, leaps in the air after being named a top 10 finalist during the 2009 Miss America Pageant at the Planet Hollywood Resort & Casino January 24, 2009 in Las Vegas, Nevada.

Ethan Miller, Getty Images

Can Ms. Mitchell make a valid arguement for 25%, 40% or 50% of Tyrese's earnings simply because he was an absentee father as her lawsuit claims? Before you decide, read the court documents posted by the Web site Radar Online, and some juicy details to the story outlined by NecoleBitchie.com.

No matter who you believe is right in this situation, both parties will lose financially after the legal proceedings have ended. Tyrese will be out at least $162,600 and perhaps more if Ms. Mitchell successfully lobbies the court for more compensation. His reputation will also take a short-term hit as dirty details continue to leak out -- details that could impact his ability to earn more money in endorsements or movie roles while the divorce drags on. He will certainly survive and he deserves no pity, but from a financial standpoint, his resources could have been used for better purposes -- like building a life with someone he could commit to for more than 10 months. Most men can't afford to make such a mistake.

As for Ms. Mitchell, no matter what type of settlement she gets, it will only be a temporary sum of money that will disappear quickly if she doesn't find another means of supporting herself and her high-end lifestyle. And since her reputation is also at risk as the dirt flies during their ongoing dispute, pressing for more money could work against her if she tries to revive her modeling career. While she may not have purposely intended to do so, Ms. Mitchell seems to have forgotten to have a viable financial plan to move on with her life in case of divorce or the death of her husband. Counting on your husband to take care of all your financial needs is not a good financial strategy under any circumstance, but especially not after you've signed a prenuptial agreement. And banking on a court settlement in a divorce is not a sound financial plan for any woman.

Marriage has many financial consequences that people need to consider before they tie the knot.

Tom Joyners Fantastic Voyage

Tom Joyner's Fantastic Voyage
Year after year, Tom Joyner's Fantastic Voyage, an outing to raise scholarship dollars for historically black colleges and universities, is a sellout. BlackVoices.com gives you an insider's view of the week-long 2008 trip, which took place aboard Royal Caribbean's Freedom of the Seas ship.

Mardi Gras Night
What a sight for sore eyes! Tom Joyner and J. Anthony Brown definitely cracked up the audience when they dressed up as Tinkerbell and Captain Hook at the Fantastic Voyage's signature Mardi Gras celebration. Cruisers also joined in the party wearing lots of beads and throwing confetti in the air during the Royal Promenade parade.

Cruise-goers
After setting sail from Miami, cruisers took part in 'Represent Night' on the Royal Promenade deck showing off their alma maters, sororities, fraternities, hometowns and favorite sports teams.

Water Fight
Every year, Tom Joyner and his morning show crew host the Light Skinned vs. Dark Skinned water fight. Here's Tom with some cruise guests with colorful water weapons at CocoCay in the Bahamas.

Charlie Wilson/Tom Joyner
Charlie Wilson, who performed with the Gap Band, took a moment to thank Tom Joyner for putting on the Fantastic Voyage Cruise. The R&B crooner sang a bevy of hit singles at the Arcadia Theater.

Beach Water Fight
A private island stop wouldn't be the same if it didn't provide an opportunity for grown folks to relive their childhoods with an old-fashion water gun fight. No one is leaving dry. This annual event always takes place at one of the Cruise's private island stops.

Deelishis
Bootylicious reality television star Deelishis from the hit VH1 series 'Flavor of Love' takes part in a special production of 'The Vagina Monologues.'

Chaka Khan
On the second day at sea, things couldn't get any better than having celebrated songstress Chaka Khan wow cruisers at a special concert at the ship's Arcadia Theater. Maze featuring Frankie Beverly also took the stage, completing a night of music that cruisers are sure to remember.

Frankie Beverly/Charlie Wilson
Two of the top soul singers, Charlie Wilson and Frankie Beverly, collaborated on a song for some of their fans. They brought the crowd to their feet with this unexpected duet.

New Edition
Johnny Gill sings his heart away at a New Edition performance on the cruise. Bobby Brown also performed a few of his solo tunes late night on the ship and was said to cause a bit of controversy picking up women behind the scenes, as well.

Categories

Contributors

Other BV Blogs