Legally Blind? Reese Skips the Prenup

ByABC News
November 3, 2006, 10:03 AM

Nov. 3, 2006 — -- From "Legally Blonde" to "Vanity Fair," Reese Witherspoon has made a career out of playing savvy women who defy the stereotype of a dumb blonde.

So one might think Hollywood's highest-paid actress would regret her reported failure to ask for a prenuptial agreement when she married actor Ryan Philippe in 1999, top divorce lawyers say.

"In this day and age, particularly if you're the greater wage-earner, you ought to see a psychiatrist if you don't get one," said famed divorce lawyer Raoul Felder, who's guided Rudy Giuliani and Robin Givens through their splits.

"Maybe they used to make the same money, but she's outdistanced him and now he could get a big piece of her fortune," Felder said.

The couple, who announced their separation on Tuesday, reportedly did not have a prenup, which details in advance of the wedding how marital assets will be split in case of a divorce.

There's a vast difference in their finances: Witherspoon commands at least $20 million per film while Phillippe earns about $2.5 million per movie, insiders say.

Under the law in California, where they both reside, earnings are split 50/50, which could put a major pinch on Witherspoon's pocketbook.

To prepare for those painful negotiations with Phillippe, Witherspoon is reportedly consulting with top Hollywood divorce lawyer Robert Kaufman.

Kaufman advised Jennifer Aniston, Roseanne, and Lisa Marie Presley in their headline-making splits.

"It was reckless on her part," said Harriet Newman Cohen, a lawyer and author of "The Divorce Book for Men and Women."

"It was reckless because she had the ability to have him sign an agreement that everything she made during the marriage was hers and was not considered marital assets. She could have had a very plain vanilla 'Go away! It was nice knowing you!'" Cohen said.

Reckless and rare. Witherspoon joins Madonna and Jessica Simpson as one of the few women in Hollywood who declined to sign prenuptial agreements before getting married.

In Simpson's case, it made sense at the time since then-husband Nick Lachey was outearning her at that point in their careers.

That decision backfired, though. When the "Newlyweds" couple split up last year, she was worth significantly more than him.