Tying loose ends before tying the knot.

• Position: Preparing a prenuptial agreement

Prenuptial agreements have all the romance of a blood test, but are becoming more important than ever for couples preparing to wed. They are not just for the Donald Trumps of the world, either. Couples in five percent of all marriages and 20% of all remarriages reach such agreements before they sign their marriage licenses.

Prenuptial agreements spell out the division of assets and who will pay for what in the event of divorce, including the amount of any child support and level of alimony payments. Financial planners generally recommend that couples consider a prenuptial agreement if they have substantial assets, particularly if there is an imbalance in assets or if they have children from a previous marriage. Small-business owners and the elderly are strong candidates for prenups, as well as couples in which one spouse will be supporting the other through professional school (such as medical or law), so that the supporting spouse will share fairly in the professional's ultimate gain.

If a prenuptial agreement is in your marriage plans, here are some steps the Institute of Financial Planners recommends to help ensure that the agreement won't be contested later in court or fail to work the way each party intended:

* Allow plenty of time. Preparing and signing a prenup shortly before the wedding is more likely to weaken the agreement since it could be challenged later on the grounds it was signed under duress. Time also may be needed to value assets such as a small business properly.

* Obtain independent counsel. Don't use a lawyer recommended by the other party's attorney.

* Provide full disclosure of assets. Omissions, if they are deemed to be material, can cause the...