Premarital agreements (also called prenuptial agreements or "prenups") are a common legal step taken before marriage. A prenup establishes the property and financial rights of each spouse in the event of a divorce. So while no one is thinking about a divorce when they get married, about one half of all marriages in America end up in divorce proceedings. So it's often prudent to at least consider a prenuptial agreement. Prenups are often used to protect the assets of wealthy spouses but also can protect family businesses and serve other important functions. Learn about your state's legal requirements for a prenuptial agreement and whether it's right for you.