Prenuptial Agreement Attorneys

MarouaFebruary 4, 2024

0 35 5 minutes read

Table of Contents

Introduction

Entering into a prenuptial agreement before getting married can help protect both you and your future spouse in the event of divorce. A prenuptial agreement allows you to decide in advance how your assets and debts will be divided if you split up. Finding an experienced prenuptial agreement attorney to help draft the agreement is key. Here are some tips on choosing the right lawyer for your prenup.

Why You Need a Prenuptial Agreement Attorney

A prenuptial agreement is a legally binding contract between two people planning to get married. It details how property and finances will be divided if the marriage ends in divorce.

Here are some of the key benefits of having a prenuptial agreement:

Protects separate property you owned before marriage or received as a gift or inheritance during marriage. Without an agreement, separate property often becomes marital property subject to division.
Allows you to decide who gets what assets in case of divorce. Avoids fights over possessions and valuables.
Sets forth each person’s financial obligations during and after marriage. This includes things like spousal support.
Protects business interests and assets from division. Essential if one spouse owns a company.
Provides predictability about what will happen. Reduces uncertainty if the marriage fails.

Because a prenuptial agreement must adhere to complex state laws and requires intricate drafting, hiring an experienced attorney is crucial.

How to Choose a Prenuptial Agreement Attorney

Choosing the right lawyer to draft your prenuptial agreement is essential for ensuring it will stand up in court if challenged. Here’s how to find the best attorney for your situation:

Look for an experienced family law specialist

It’s important to choose a lawyer who focuses specifically on family law and has extensive experience drafting prenuptial agreements. Ask about the number of prenups they have prepared and how often their agreements have been disputed or overturned. An attorney who handles these regularly will be up to date on laws and best practices.

Find someone licensed locally

Make sure the lawyer you choose is licensed in your state. Prenuptial agreement laws vary considerably nationwide, so you need someone familiar with the specific requirements and nuances in your jurisdiction. Don’t hire an out-of-state lawyer.

Interview a few potential attorneys

Schedule consultations with a few candidates to discuss your situation and goals. Pay attention to how well they listen and their expertise in topics relevant to your prenup. Cost is also a consideration, so ask about their rates. Go with the lawyer you feel most comfortable with.

Look for objectivity

The attorney you hire should remain neutral and avoid any conflicts of interest. Be wary of lawyers who push you to make specific decisions that may not be in your best interests. Find someone who will draft an agreement that protects both you and your future spouse fairly.

Consider hiring separate lawyers

It’s often wise for each person to consult their own lawyer when creating a prenuptial agreement, rather than sharing one attorney. This avoids any biases and ensures both parties’ interests are protected. Expect to pay two retainers.

Key Sections in a Prenuptial Agreement

Here are some of the essential elements to discuss with your prenuptial agreement lawyer:

Asset division: How property like real estate, investments, jewelry, collectibles, and heirlooms will be divided. Should separate property stay separate?
Debt division: Who is responsible for debts incurred before or during marriage – individually or jointly.
Alimony: Will one spouse receive spousal support? How much and for how long?
Life insurance: Will policies be maintained? Who are the beneficiaries?
Estate planning: What happens if one spouse dies? How are wills, trusts, etc. impacted?
Property rights: How will property ownership rights be handled during marriage and in case of divorce?

Thinking through these monetary issues in advance leads to a more thorough agreement. Your attorney can help craft terms favorable to both you and your fiancé.

Timing for Creating a Prenuptial Agreement

Ideally, you should begin discussing a prenuptial agreement with your partner as soon as you decide to get married. It’s best to sign the finished agreement at least 30 days before your wedding day.

If you wait until right before the ceremony, a court may view the agreement as coerced and therefore invalid.
Allowing time to review the agreement thoroughly with your own lawyer helps avoid doubts later.
Early completion gives you peace of mind heading into your marriage knowing your assets are protected.

Bottom line – don’t put off this task. Take care of it early in the wedding planning process.

How Much Does a Prenuptial Agreement Cost?

The cost of having an attorney draft a prenuptial agreement can range from $1,000 to $10,000 depending on where you live, the complexity of your financial situation, and your lawyer’s hourly rate and level of experience.

Here are some factors that can impact the overall costs:

Lengthy negotiating over terms and numerous draft revisions will increase lawyer fees. Amiable spouses can save costs.
Involving tax experts, accountants, or financial planners for advice adds to the total expense. But it can be worth it.
In some cases, each spouse pays their own lawyer. So costs are doubled if hiring two attorneys.
If one partner has significantly more assets than the other, they may offer to cover all or most of the expense.
Additional legal fees will pile up if the agreement must be revised down the road.

While not cheap, a prenuptial agreement brings valuable peace of mind and protection that can be worth the investment. Shop around for competitive rates.

Final Tips for Working with a Prenuptial Agreement Attorney

To make the process of creating your prenuptial agreement go smoothly, keep these last tips in mind:

Provide your attorney will complete details about all your assets, debts, income sources, personal property, retirement plans, insurance policies, real estate holdings, business ventures, inheritance prospects, and anything else relevant to your finances. Full disclosure is essential.
Be realistic about what terms your future spouse is likely to accept and abide by if you ever divorce. Agreements perceived as unfair often don’t hold up.
Be responsive to document requests and questions from your lawyer so the drafting process moves along efficiently. Time equals money.
Before signing, thoroughly review the agreement with your own counsel if you have any doubts or concerns about the proposed terms. Don’t hesitate to speak up.
Understand how changes in circumstances like having children or earning significantly more money may impact the agreement. Consider updating it down the road if needed.

Hiring the right prenuptial agreement lawyer provides peace of mind as you embark on marriage. With a fair agreement in place, you can rest easy knowing your assets are protected.