For the romantic at heart, nothing can spoil the magic faster than the word prenup. But one can never lose sight of the fact that many marriages have ended in divorce.
Money issues like debts, mounting bills, bad spending behaviour are just some of the deal-breakers between couples. So, does it make sense then that people planning to get married should lay out in writing their specific intentions for the union and clarify what the arrangements will be should the relationship sour?
Prenups normally details how financial matters must be dealt with in the event of divorce or death: how the assets and inheritance will be divided, how debts will be handled, and whether each party has any financial responsibility for the other's offspring from previous marriage.
These agreements are commonly used in Western countries, especially in second marriages and even in civil partnerships, but they are frowned upon in certain cultures. In the UAE, some wealthy couples also go down this route to protect their riches or businesses.
With divorce now common these days, financial experts advise couples to consider this "unromantic" option before taking the plunge. In the UAE, the divorce rate among Emiratis alone rose to 24 per cent in 2009, figures released by Dubai Courts show.
Financial advisers contend that marriage itself is already a financial commitment, whereby a couple agrees who pays the mortgage, debts and bills, or how they should go about savings and investments.
It's critical then that couples entering into a marriage, regardless of religion or country of origin, should have a full understanding of each other's expectations of the financial aspects of the marriage, and what happens if the relationship ends, according to Mark Nierada, solicitor and senior estate planning consultant at Nexus Insurance Brokers.
"Prenuptial agreements are a relatively new legal way of setting out what the financial arrangements will be if a married couple decides to divorce. At present, they are more commonly used by American and European couples, and are not so popular among Asian and Arab couples," Nierada tells Gulf News.
For Steve Gregory, managing partner of Holborn Assets, prenuptial agreements are a form of business arrangement. Although they are not enshrined in law in most countries, they are useful because they guide lawyers and judges in the event of a marriage breakup.
"Interestingly, it is not so common for first time couples to enter a prenuptial agreement before marriage. More frequently, they are entered into by people entering a second marriage or even by civil partnerships, a term used to describe couples living together without a marriage license," he adds.
Couples, are however, advised to take note of certain legal issues when preparing a prenup, to avoid obstacles in the future. "As in much of the world, these agreements are a declaration of intentions in the event of divorce, but are not binding on the courts and cannot create a breach of local law in any way.
"For instance, where it is agreed in a prenup that the wife will take custody of the children, this would be overruled in many circumstances if local law determines that the father should have custody. However, all kinds of nationalities prefer to set down in writing their intentions and expectations for what should happen in the event of a marriage break," says Gregory.
There's also a common misunderstanding that prenups are the reserve of the wealthy who use them as a means of protecting their massive fortunes against less well-off spouses. No matter the income size, anyone can enter a prenup.
"You don't have to be rich to set out an agreement in a prenup. Of course, the longer the marriage remains intact, the greater future assets are likely to be," says Gregory.
Nierada says prenups can be useful for couples of any financial means because they are an important part of the wider need for thoughtful planning when couples decide to marry and start a family.
He notes that provision for children's education and financial support of one's family in the event of death, severe illness or injury are essential parts of planning a future life together.
"However, if you are rich and want to protect your assets, a prenup in itself is insufficient. Wealthy clients should restructure their assets for 100 per cent protection, by placing as much of their wealth as possible into a trust or foundation, before marriage," adds Nierada.
As to when the subject should be raised, financial experts cannot recommend a perfect time, although the earlier into the relationship this is done, the better.
"It is important to start the process well before the nuptials. A court will throw out any prenup where it feels that either party has not been given sufficient time to consider its position.
As a rule of thumb, it should be done and dusted at least one month before the big day. It's also sensible to do this earlier rather than later, so the focus is on the wedding, not on what happens if the marriage falls apart," Nierada adds.
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