And with some 9.8 per cent of the adult population divorced according to the US Census Bureau, it is an issue worth paying attention too.

“We work with clients in drafting prenuptial agreements to prepare them for what can potentially happen in the future. One of the biggest challenges with drafting a prenup is that you are working with two people who are very much in love and talking them through the planning process of what happens if things do not ultimately work out.

“It requires you to make certain assumptions about the future, and do so in a neutral and fair way. But of course, there is no way to predict the future,” Sheila Riesel, matrimonial attorney and partner at the law firm Blank Rome, tells Family Wealth Report, speaking from the firm’s NYC office in the Chrysler building.

A creature of the state

In the US, divorce law is a creature of state law, and each state has its own particulars – a factor that HNW individuals can sometimes use to their advantage, as they are likely to have properties or interests in various states, she explains.

The state of New York, for instance, where Riesel is based and has a license to practice, has only just been “dragged kicking and screaming into the twenty-first century” with the introduction of no fault divorces, she says. Another idiosyncrasy of the state’s divorce law is that an advanced degree or professional license is classified as an asset.

“For example, an expert will quantify the earning potential of a medical degree and the non-titled spouse is entitled to an equitable share of that value, and the amounts can be staggering,” says Riesel.

The process values the difference between a person’s enhanced earnings from an advanced degree or license, compared to what they would have been without the additional training, and then impacts this for tax and discounting effects. But it can still be a significant amount, warns Riesel, and is essentially a “fictional asset”.

The future earnings clause is certainly one to be aware of, as was highlighted when Michael Douglas’s former wife fought to receive proceeds of the Wall Street sequel because they were married when he first developed the character of Gordon Gekko.

“In New York, the only way to protect against having to share an enhanced earning capacity on divorce is to do a prenup or post-nup,” says Riesel. She adds that if someone wants to protect a long-standing family interest, such as a business, not only “can you and should you do a prenup, but you can also put that asset in a trust. If it’s done correctly, it will be protected.”

However, the whole process of putting together a prenup is tricky, due to the emotions involved on the side of the clients: “It’s a difficult balance of emotions and has to be approached in the right way. Both parties need to understand that finances are a big part of the couple’s life together, and this is an opportunity for them to begin discussing them in the early stages of the relationship.”

The changing role of women

The changing roles of women and men in society have had knock-on effects in the divorce courts.

“I represent many successful women, who have all of the same demands on their time and energy as their male counterparts.  When it comes time to determine custody in these cases, the children may ultimately end up being cared for has been so great that in many cases the judge will now listen to and weigh these arguments, and not turn a blind eye to the economic effects.”