Celebrity divorce lawyer Raoul Felder — that is how he describes himself — has been involved in some of the most famous, most acrimonious divorce cases in history.
He handled former New York Mayor Rudolph Giuliani's two divorces, went up against Elizabeth Taylor's very experienced lawyers when he represented her seventh and last husband, Larry Fortensky, and represented thousands of other clients who were not famous at all. He says his career would have been much different if more couples had worked out prenuptial agreements.
"Oh, if we had prenups over the last 40 years that I've practiced, it'd probably cut out two-thirds of my cases," he said.
While they were once the province of the richest, most famous couples, people from all walks of life now use prenuptial agreements, which specify how couples will divide their assets if they split. Felder says his office now handles as many prenups a year as divorce cases.
"It's become a part of every divorce lawyer's practice now because, if you don't have a prenuptial, see a psychiatrist, not a lawyer," he said.
One couple that could have used that advice is Mike and Dalia Dippolito. Their story is featured on the next episode of CNBC's "American Greed." Dalia was so determined to get her hands on Mike's money that she took out a contract for his murder, not knowing that the hit man was an undercover police officer. Her sensational case transfixed South Florida — and the nation — through not one, not two, but three televised trials. But the whole thing might not have happened had the couple reached an understanding about their assets in advance.
Not all prenuptial agreements are created equal, however. A poorly conceived contract might not hold up in court if challenged, making a divorce even more difficult than it already is. Felder offers some tips on how to make your prenuptial agreement bulletproof.