They may not be the most romantic thing to discuss before getting married, but prenuptial agreements — or prenups — are becoming a regular fixture in many marriages in Bermuda.

We have seen a significant rise in the past couple of years, particularly among those going through a second marriage and, interestingly, among younger couples.

Indeed, barely a week goes by without a couple coming through the door asking for a prenup, as they are becoming a staple part of the marriage process for many Bermudian couples.

Prenups can be seen as a marriage insurance policy that outlines the division of assets should the marriage break down. This can include all manner of financial matters including inheritance, business interests and investments. Prenups can also set out childcare arrangements.

One of the explanations for the recent rise in prenups in Bermuda is that many people on the island have trusts and enjoy generational wealth that individuals and families want to protect. This is one of the main reasons we are seeing an increase in prenups among the younger generation — to protect that family wealth.

Couples want to live their lives together but keep protected whatever assets they had before the marriage should the relationship end.

Another significant factor in younger people taking out prenups is that they are less squeamish about doing so than previous generations. Younger people appear to be becoming less romantically minded and more practical. They realise not every marriage lasts, and so they understand assets should not be split down the middle if one brings more wealth to the marriage than the other.

Societally, the stigma of a prenup has receded, meaning more are willing to go down this path. It is no longer just the preserve of celebrity marriages; it is becoming the norm.

So, what do you need to consider when taking out a prenup?

The first thing is that there needs to be full and frank disclosure between the two parties. All cards have to be placed on the table face-up. There also has to be independent legal advice, or at least the offer of it, when drafting a prenup.

There must be no fewer than 28 days between the signing of the prenup and the marriage itself. There should be no coercion or pressure — a short time frame in some instances can be seen as pressuring one party into a prenup.

Historically, prenups were unenforceable but were taken into account by the court. The UK Supreme Court judgment in the case of Radmacher v Granatino in 2010 altered this position considerably, as it stated prenups that were freely entered into by each party with a full appreciation of its implications — unless in the circumstances it would be unfair to hold the parties to their agreement — should be enforceable.

As the Bermudian courts take their lead from Britain, this also applies here. Ultimately, however, any decision on a prenup is at the discretion of the court.

This discretion usually comes into play when one party challenges the prenup — for example, on the basis that full and frank disclosure was not made, there was undue pressure, lack of independent legal advice or something has changed from a financial perspective since they got married.

In such situations, an application can be made to have the prenup set aside by the court, and if successful the court will determine the financial remedy afresh. Alternatively, the court may find that there are no grounds to set aside the prenup but determine the terms to be unfair and alter the prenup in order to achieve fairness.

The most important thing for the court to consider is, what does each party need? Although a prenup may have been agreed before, the court is unlikely to leave one party homeless.

Fundamentally, we are seeing the court regularly enforcing prenups unless there is a clear unfairness. They also offer peace of mind around protection of assets, which has ultimately led to them becoming part of the marriage process for many in Bermuda.

• Alma Dismont is a senior associate at Marshall, Diel & Myers