Blog

posted: 16 February 2011

Miriam Eryan

In the world of celebrity, insurance on one’s body parts is not new news but it is an entertaining story to tell. According to Gawno.com, Merve Hughes has $317,000 riding on his renowned moustache, Rihanna has million dollar legs. Heidi Klum, doubled that insurance on her pins – perhaps smart for a runway model who walks for a living, while Mariah Carey upped the ante as only she can, with a whopping $1 billion invested on her statuesque  legs, making Jennifer Lopez’s  $300 million cushioned derriere seem like loose change.  The investment though superficial has merit to it, because bumps, bruises and breakage are a fact of life, and in life you should be entitled to a return on your best assets.

Breakups are another phenomenon in tinsel-town and abroad, and this is where asset protection seems wisest, particularly from women like Jemima Slade.

Most men and women alike, take great offence to being the sugar daddy or sugar mama of a gold digger, or for women, being labeled one, but Jemima Slade would be the first to admit it herself and even created a website so others can do the same. Jemima Slade has made a career out of matching wealthy men and women with those who appreciate the size of their assets. Golddiggers.uk.com promises “exclusive dating where affluent and elegant golden people meet”…  Surprisingly, there’s no shortage of rich members signing up to have their deep pockets mined by golddigging “babes” and “boys.” You’d think it was Monopoly the way money is thrown around in this financial playground.

But what of break-ups and divorces?

Last year, we saw the end of Tiger Woods and Elin Nordegren and as Elin dispensed of her husband, he was forced to part ways with $750 million in divorce money. Greg Norman is another who seems to marry and divorce as often as he putts and his first wife Laura demanded the whole nine yards when their divorce was settled; a hefty $600 million dollars to console her broken heart.

In these trying economic times, it is not just marriages in collapse but your finances that are also at risk of seizure by exes, plaintiffs and creditors. The fact is, when trying times emerge, the less fortunate are more inclined to try their luck at regaining status and wealth. This is where appropriate structuring (i.e., use of trusts, companies, super funds etc) and insurance policies shield and protect from acquisitive others and this is not just for the rich and famous.

Asset protection is not just about your backside, it’s about giving you a seat to sit on. It is not just about your legs, but helping you walk through mud when natural disasters strike. It is not just about marriage, it is about a financial shield from the emotional breakdowns that are not always in our control. Assets are called so for a reason and should always remain a source of healthy return.