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A prenuptial agreement is no longer just for the wealthy. Today, folks of all economic backgrounds and in all situations are deciding to legally clarify their rights and responsibilities before they get married. It can also clarify in advance how property and assets will be divided should the couple decide to divorce.

If you don’t already know, a prenup is a written agreement that a couple signs before they get married. If the marriage ends in divorce or death, the prenup states what each person’s property rights will be after the marriage ends. It usually lists the debts and assets of both parties.

Initially used to protect the property and assets of the wealthy, people in a wide variety of situations are now seeing the benefits of a prenuptial agreement.

Prenups allow couples with blended families to pass on assets and property to their children while still providing for each other. In this situation, a prenuptial agreement protects the children of the deceased spouse. It can also prevent the assets and property from passing to the surviving spouse.

A prenup clearly states the financial rights of each party during the marriage. Consider the situation where one spouse has significant debt. If a spouse is has debts before marriage, the other spouse will not be responsible for those debts.

If a couple divorces, a prenup helps a lot in dividing the assets smoothly between the two. Prenup agreements can even state whether a spouse will have to provide alimony if there is a divorce. Nevertheless, a spouse will have the rights to claim alimony in certain states immaterial of prenup agreement.

Just because you and your spouse are considering a prenuptial agreement, it doesn’t mean that you aren’t both strongly committed to your marriage. In fact, it can mean just the opposite. It can create a stronger marriage with fewer conflicts both now and in the future by spelling out exactly what is expected of each one of you financially.