I’m a certified financial planner, here’s why all engaged couples should sign a pre-nup – not just the rich and famous

They are often considered the domain of the ultra-rich and famous.

Still, prenuptial agreements are becoming increasingly popular among couples of all income levels: A 2022 survey from market research firm Harris Poll found that 15 percent of affected respondents had signed one, up from 3 percent in 2010.

And one financial planner insists that virtually all brides and grooms should get a plan in case they get divorced.

Rachael Burns, who founded Worth real financial planning, told DailyMail.com: ‘Prenuptial agreements are getting the reputation of being for really rich people. And they are seen as something very unromantic.

‘But I actually find it very romantic. It’s a way to avoid so many potential conflicts.”

A prenuptial agreement is essentially a contract drawn up by a couple before they get married. It usually lists all the assets each person owns, including any debts, and outlines how they will be divided in the event of a divorce.

It’s been reported that a host of celebrities have signed one, including Kim Kardashian and Kanye West and Britney Spears and recent ex Sam Asghari.

But Burns – who specializes in helping newly single women after divorce – advises that all couples should consider one – regardless of the size of their assets.

She added that they are especially important for parents – usually mothers – who take time off during the marriage to raise a couple’s children.

“Taking 20 years off to raise children significantly harms your earning potential and your retirement savings,” Burns told DailyMail.com

‘A marriage contract ensures that you receive fair compensation for those twenty years of unpaid work.

‘And signing an agreement initiates open communication between couples about their finances. It’s also much better for couples to agree on these things when they’re happy and in love than during a breakup when things are unpleasant and less fair.”

She advises couples to talk about an agreement well before the wedding, so that both parties have time to properly process the agreement.

Additionally, she recommends that both partners have their own separate attorneys to negotiate the deal fairly.

She said, “I once counseled a woman whose husband gave her the prenuptial agreement after the wedding invitations had already been sent.

‘Discussing a pre-nup too close to the wedding could invalidate the agreement in court as one party could say they felt pressured to sign the agreement.’

The extent to which a pre-nup is enforced may depend on the state in which the couple resides. Although all fifty states officially recognize the agreement, many disagree on the details.

For example, if the contract is for spousal support, both parties must have had legal representation at the time of signing to enforce the contract.

The majority of states enforce “equitable division” in divorces – meaning that assets are divided in a way that the judge determines is fair.

According to the latest available data, some 689,308 divorces occurred in 45 US states in 2021, with couples spending an average of $7,000 to dissolve a union.

However, nine of them adhere to a community property law, which requires spouses to divide all assets acquired during the marriage 50/50. These states include: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin.

According to the latest available data, some 689,308 divorces occurred in 45 US states in 2021, with couples spending an average of $7,000 to dissolve a union.

And the consequences can be disastrous for women. A 2018 survey by online marketplace Worthy found that 44 percent of women at various stages of the divorce process had debts they were paying off.

Separate figures from the U.S. Government Accountability Office’s special report to the Senate show that women’s household income drops by an average of 41 percent after marital separation.