When we choose to marry, each one of us wants to believe that we are forging a union that will last a lifetime. The sad reality is that the number of marriages that end in divorce are on the rise each and every year. Sadder still is that many of those once loving couples end up embroiled in hateful spats over who should get what once the marriage has been dissolved. This is all something that can be avoided by drawing up a prenuptial agreement before the wedding ever takes place, so that both couples are aware of who will get what in the event of the marriage failing.
This saves heartbreak over lost earnings and keeps important financial and personal holdings in your possession. The cost of a prenuptial agreement can vary from case to case, depending on whether you want to draw up a prenup yourself, go online to handle the prenup remotely, or work with an experienced lawyer in your area to get expert guidance along the way that will withstand any scrutiny down the line.
The Cost of Doing a Prenuptial Agreement Yourself
To draw a prenup yourself through Do-It-Yourself kits, you can expect to spend under $50. This will help you get started and learn the requirements of a prenup before you take it into its final stages where you may want a licensed attorney to review the agreement for accuracy. An attorney can determine if there are any holes in the contract that may lead to invalidation down the line. This method is the cheapest because you are doing most of the legwork by locating your assets and will only pay additional for a lawyer to review, plus notarizing fees to ensure that the contract is legally binding.
The Cost of Purchasing State-Specific Prenup Forms
State specific prenuptial agreement forms that can be downloaded into Word, completed, and taken to an attorney for review for under $75. These specific forms will help you get started on the rules you must follow in your state. Since these forms are created specifically to your locale, they will follow the laws of your state. Paying an attorney to review the contract you’ve formed will cost much less than going to their office for complete and unconditional support. For prenups specific to your state, these detailed forms will help you get started on the rules you must follow in the state you reside in.
The Cost of a Prenuptial Agreement Through LegalZoom.Com
If you feel like you are savvy enough to complete the premarital contract yourself with just a minimal amount of guidance, opt for legally binding agreement from Legalzoom.com. Start by completing an online questionnaire to receive a free prenuptial agreement example and evaluation. If you decide to proceed, an attorney will further evaluate your needs, provide a legal consultation and answer any questions related to the preparation of your prenuptial agreement. As part of the payment, the attorney will create a customized prenuptial agreement that includes all the required disclosures per your state. The complete cost is $695.
The Cost From Using a Licensed Marital Attorney to Complete Your Prenup
The idea of doing even one aspect of your premarital agreement wrong tends to make people a little nervous, which is why using a lawyer is always a good idea. As well-intended as you are, the laws surrounding prenups are spelled out very clearly and a lawyer will make sure you are not missing certain aspects that might nullify the contract upon divorce. Depending on your exact needs, a more straightforward prenup with average property possession and assets will range between $250 and $600. For a more complex agreement covering more property and assets can run between $600 and $2000. For extremely high profile prenups with multiple assets and holdings, the price can range from $2000 to 5 figures. These can range significantly in price based on the city in which you are forming the prenup. For example, in Hollywood, you can pay twice as much as what is listed here, but in Boise, Idaho, you may pay less than what is listed.
Why Getting a Prenup Makes Sense?
It’s hard to think about the costs of a prenup when love is in full bloom and the wedding day is drawing ever closer, but engaging in a prenuptial agreement is not something that should be looked at as putting some sort of hex on the marriage. Both people bring different possessions into the union, so it should only be fair that both at least leave with that if it all goes wrong somewhere down the line. Instead of looking at a prenup as a way to protect one’s assets, it should be looked at as a way of ensuring that the split is one that will be equitable and free from fighting should it happen. As unromantic as they may be, having the maturity and foresight to have a prenup in place can really be a godsend if the marriage were to falter and end in divorce.
The prenuptial agreement seems to have become a sign to many of bad luck for a marriage because the most attention they receive are when they are in regards to celebrities with large portfolios who have plenty to lose. You also get 70-year old actors marrying women more than half their age, with the prenup very much in the picture from the beginning. That seems to have led the mindset among the average person that the prenuptial agreement is only ever used to protect assets because people know the marriage will never last. The celebrity aspect may also have led people to think that an agreement of this sort is something that will cost a small fortune to put in place. Realistically, prenups are just as much for the middle class as they are for the wealthy. At any income level, losing what you have worked very hard to accumulate through years of blood, sweat and tears will tear a person down if a prenup contract is not in place.
While those celebrity prenuptial agreements can run into the thousands of dollars, you have to understand that those tend to be complex documents that deal with multiple properties and potentially millions of dollars in earnings and such. Using Do-It-Yourself and State Specific forms will help you get a jump on the requirements of a prenup, needing only the blessing of a local attorney. Do-It-Yourself’ers can also lessen the total cost down the road if you need to visit an attorney’s office for assistance since you will have most of the hard work done in advance.