Sign Here, Darling
By Vanessa Richardson; Jacalyn F. Barnett

(MONEY Magazine) – June usually means wedding bells pealing across America. It's also when brides- and grooms-to-be are talking business--or should be, says Jacalyn F. Barnett, a matrimonial lawyer in New York City who has handled the divorces of such high-profile spouses as model Cheryl Tiegs.

Q. Who is drawing up prenuptial agreements these days?

A. Even students are considering them. In many states, if you obtain a professional license or a graduate degree during a marriage, the court can place a value on the degree and distribute the value between spouses. Recently, a New York judge said one man's M.B.A. was worth $3 million, so he'll have to pay $1.5 million to his ex-wife over the next 15 years, at 9% interest. And it's not tax deductible.

Q. How should you bring up the idea of a prenup?

A. Talk about it far in advance, even before getting engaged. Just say, "I believe in premarital agreements," and put it on the table as a concept. That way you won't have to worry about getting engaged and then telling people it didn't work out.

Q. What should be included in an agreement?

A. The most important issue to address is each person's right to assets--and liabilities, which many people forget about.

Q. When does it get ridiculous?

A. One wacky thing I've seen in a few prenups is a "weight clause," where the spouse agrees to stay slim during the marriage.

--VANESSA RICHARDSON