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Despite the common misperception that prenuptial agreements are only for aging tycoons aiming to cut their younger spouses out of the family fortune, they can be a valuable tool to get into the nitty-gritty of a couple’s financial goals, says Vivian Groman, a certified public accountant with Starmont Asset Management in San Ramon, Calif.”

I see a prenuptial as the start of an ongoing conversation about money, finances and ultimately the values that you hold that get expressed financially,” Groman says. “It’s not that everybody needs a formal legal agreement. But everyone needs to have the conversation.”

Prenuptial agreements are legal documents that spell out what each individual had before marriage and what he or she would get if the marriage ended as the result of either death or divorce. Depending on the couple and their financial situation, the document can be either complex or simple.

Groman says she considers them pivotal in six situations:

Disparate assets: If one party is coming into the marriage with a home and an investment account, the agreement can spell out whether those assets will be kept separate or how they’d be taken into account in the event of a split.

via Prenuptial agreements: Six situations in which you may need a prenup – latimes.com.