How much does a prenuptial agreement cost? Prenuptial agreements, oftentimes referred to as pre-marital agreement or a “prenup”, is usually talked about when a couple decides to get married. Even though a lot of people believe prenups are just for the affluent, these agreements can benefit couples from different social and economic backgrounds. When considering a prenup, the first question that comes to mind is how much is it going to cost. Below will go into more this question and go over some general information about these types of agreements.
How Much is a Prenuptial Agreement Going to Cost?
These agreements are legal contracts that couples can carry out prior to tying the knot. A prenup documents each individual’s assets prior to the marriage taking place and specifies how financial matters are going to be managed should they get divorced. Prenups are shockingly common and are turning out to be more popular year after year. This movement could be for several reasons:
- It is more common for couples to put off get married so they accrue more assets prior to the marriage
- The frequency of divorce in preceding generations (children witnessing parents getting divorced)
Getting assistance from a family lawyer to draw up a prenuptial agreement is highly recommended since this documentation is critical. Prenups are required to include specific details, and if prepared improperly, the contract might not hold up in a court of law. The average cost of a prenup is around $550. Prenuptial agreement costs are subject to many variables, including the couples location, the how complex the document is, and any added condition that the couple wants included in the agreement.
The Cost of Drawing Up A Prenuptial Agreement
Drawing up a prenuptial agreement entails expenses since it requires the time of a licensed lawyer to finish the project. As reported by ContractsCounsel’s data, the average prenuptial agreement drafting expenses are $750 throughout all states and industries.
Examining Prenuptial Agreement Expenses
When you require a prenuptial agreement to be examined, hiring a lawyer is going to come with fees. Your lawyer is going to need to review the document to analyze the conditions and make sure the document is enforceable legally. You are going to need to compensate your lawyer for their time spent on your project. ContractsCounsel’s data shows the average prenuptial agreement review expenses to be $450 throughout all states.
How is a Lawyer going to Charge for a Prenuptial Agreement?
Family lawyers charge for their service in different ways; Nevertheless, the 2 most favorable payment methods used are by the hour and flat fees.
Hourly Rates for Prenups
Hourly rate fee methods are the most frequent fee method used for family lawyers. Using this method a lawyer is going to bill their client at a set hourly rate for working on your case or project. Hourly rate payments guarantees that the lawyer is justly compensated for their time working on their client’s case. An average hourly rate for a family lawyer ranges from around $250 to $350 each hour.
Flat Fee Rates for Prenups
It is turning out to be more common to a flat fee billing method for contract drafting case, such as a prenuptial agreement. In flat fee payment methods, lawyers are going to provide a flat fee cost to the client for the suggested services. The client typically has a preference for flat fee rates since they’ll know exactly how much they are going to be spending for legal services. It is critical, nevertheless, that the client knows what is comprised of in the flat fee rate. When drawing up a prenup, there is typically a meeting with the clients, and then the lawyer is required to prepare the contract. Following the examination of the prenup, the clients might decide it needs alterations. In many states, the lawyer may also be required to be in attendance at the signing. It needs to be made clear if the flat fee comprises of these added meetings and services. The average flat fee rate for prenups expenses is around $550.
Sources:
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Prenuptial agreement cost. How Much Does It Cost? (2021). (n.d.). Retrieved December 20, 2021, from https://www.contractscounsel.com/b/prenuptial-agreement-cost
Need an Affordable Prenuptial Agreement Lawyer in Scottsdale?
Moshier Law should be your choice when you need the best prenuptial agreement assistance in Scottsdale. An experienced family law attorney will work with you to obtain the best possible outcome in your situation. We advocate for our clients so they have the brightest future possible. Give us a call today at 480-999-0800 for a free consultation.
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