Prenuptial Agreements Aren't Just for Hollywood Celebrities Anymore

You don't need to be rich or famous to get a prenuptial agreement. As long as you have assets to protect, prenups are a practical idea for anyone getting married.

There has been a rise in the frequency of prenups over the past few years. Experts believe that is because many people are choosing to get married later in life when they have more assets. They have more to protect in their 30s than they did in their 20s, which is when many people in earlier generations chose to get married. Essentially, a prenuptial agreement is a document drawn up by a lawyer stating how property, assets and money will be divided in the event of divorce or even death. It's a practical way of protecting yourself and protecting your property. This way you'll be taken care of if there is dissolution in your marriage.

Of course, every state varies on how property and assets are divided up in a divorce. In 41 states, a judge decides on how everything will be divvied up. In the remaining nine states, shared property will be split in half between you and your spouse.

To avoid losing your earned property and assets in the event of a divorce, a prenup dictates how you and your spouse want your shared property and assets will be divided. Incidentally, in most 50 states, any previously earned assets remain yours even if there is a divorce. However, to have all your bases covered and to protect what you've earned, your prenup agreement should dictate that any previously earned assets remain yours.

Though the idea of a prenuptial agreement may rock the boat with you and your future spouse, it's important to relay to him or her that it isn't your love that you doubt-it's the circumstances. With the divorce rate still hovering around 50% in the United States, it's a realistic idea to consider having one drawn up. If the idea still leaves you or your significant other uneasy, think of a prenup more as insurance than as a case of insecurity in your love or commitment to each other.