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The name Buzz Aldrin is likely very familiar to Michigan readers. Having the claim of being the second man to step on the moon is quite an accomplishment. Unfortunately, for Aldrin, his 23-year marriage to Lois Driggs Cannon has ended in divorce. This third divorce for Aldrin has taken a truly astronomical toll on his finances.\
According to reports, Cannon stands to gain a substantial financial sum in the settlement. Not only is she going to receive half of a $475,000 bank account, it is also reported that she will receive more than $9,000 per month in spousal support. Some sources indicate that she may also be entitled to an additional 30 percent of Aldrin’s yearly income.
Divorce cases like this one may cause many couples to consider drafting a prenuptial agreement before they say I do. While not every couple will have such a large value of assets, every couple does have assets that could factor into a divorce. For Aldrin and Cannon, it is unclear whether these settlement terms were a part of a prenuptial agreement, or were the result of an attempt to finally rest the process that had dragged out for more than a year.
Michigan couples, who are concerned about lengthy divorce proceedings or bitter property disputes, may benefit from considering their legal rights and options. It is of the utmost importance that couples realize that they each have rights, and remember this when they negotiate the terms of a divorce. When an equitable and amicable agreement cannot be reached on their own, couples may benefit from considering their options for assistance.
Source: Christian Post, “Buzz Aldrin Divorced for Third Time, Ex-Wife Takes Half His Fortune,” Myles Collier, Jan. 8, 2013