While longtime celebrity watchers might not have been surprised by Jennifer Lopez’s divorce from Ben Affleck, many were taken aback that her divorce petition did not mention a prenuptial agreement.

A prenuptial agreement is a legal document that outlines how assets will be divided during the marriage and in the event of a divorce. Although commonly used by celebrities and wealthy couples, divorce law attorney Raiford Dalton Palmer emphasizes that a prenup is beneficial for anyone, regardless of their financial status.

“Prenups are not just for wealthy individuals,” said Palmer, managing shareholder at STG Divorce Law. “They can be crucial for those with less money, as every dollar spent on legal fees could otherwise be spent on your children or yourself.”

If you’re planning to get married, here’s what you need to know about prenuptial agreements:

Discuss a Prenup Early
Timing is crucial when bringing up the topic of a prenuptial agreement. Family law attorney Linda J. Ravdin advises initiating the conversation early in the relationship, rather than waiting until wedding preparations are underway. For example, in California, there’s a seven-day rule requiring that one party present a preliminary prenup at least seven days before the other party can sign it. This ensures adequate time for review.

Approach the Conversation with Sensitivity
Discussing a prenup involves full financial transparency and can be emotionally charged. Attorney Julia Rodgers recommends approaching the discussion with care. “It’s as much an emotional document as it is a legal one,” said Rodgers, CEO of Hello Prenup. She suggests talking about why a prenup is important to you and addressing any concerns you might have. Common reasons for seeking a prenup include concerns about the difficulties experienced by parents in previous divorces.

Ask the Right Questions
Discuss how you would handle various aspects of your life together, including:

• Whether you want children and if both partners will continue working.
• Desired lifestyle if you don’t plan to have children.
• Plans for buying a house or renting.
• Frequency of long vacations.
• Existing debts.
• Future business plans.

A Prenup Can Ease the Divorce Process
Palmer likens prenuptial agreements to estate planning. “Couples don’t marry expecting to divorce, but having a plan can simplify the process if it happens,” he said. A prenup can reduce the complexity and cost of divorce by clarifying property division, alimony, and debt management. However, prenups do not cover child support or matters related to children.

Address Common Misconceptions
Contrary to popular belief, prenups are not solely for protecting the wealthier spouse. They are negotiated by both parties and ideally protect both individuals. Prenups also serve to clarify expectations during the marriage and in the event of death.

Consequences of Not Having a Prenup
If you forego a prenup, the division of assets in a divorce will depend on state laws. These laws typically aim to divide assets equitably, but this can vary. In states like California, assets are often split 50/50, while states like Iowa and Colorado may distribute assets proportionally, considering factors like earning potential and financial needs.

Drafting a Prenup
If you decide to proceed with a prenup, both parties should have separate legal representation. Ravdin starts by having clients complete a worksheet to outline their preferences, which serves as a basis for drafting the agreement. The cost of a prenup varies by state and attorney, often starting around $1,000.

A prenuptial agreement can be a practical step in managing financial expectations and protecting both parties’ interests, making it worth considering whether or not you’re a high-profile celebrity.