These legally binding contracts are smart decisions for someone who is bringing substantial assets or debt into a marriage, or for someone who owns a business and wants to protect a new spouse from the liabilities that come with entrepreneurship. But prenuptial and postnuptial agreements aren’t solely for high net worth individuals. They make sense for any couple that wants to make important decisions ahead of time regarding how assets will be handled in the event of divorce or if one spouse dies. Prenuptial and postnuptial agreements are also commonly used by individuals who have children from a previous marriage or grandchildren and who wish to ensure that certain assets will be passed to these parties rather than a surviving spouse in the event that they die or divorce.