Cost For Prenuptial/Post-Nuptial Agreement

The salaries for both men and women have increased over the years and many couples are choosing prenuptial/post-nuptial agreements to protect their assets. A prenuptial agreement is a contract between both parties that deals with how the finances will be divided if the couple decides to divorce. A post-nuptial agreement is entered into after the couple is married but before they decide to seek a divorce. (See more on having a post-nuptial agreement after marriage)

What is Covered in a Prenuptial Agreement?

One or both parties may want to avoid the risk of losing certain assets if their marriage ends in divorce or death. They may enter into either a prenuptial or post-nuptial agreement, which usually covers the following:

The division of property and assets
A list of items that are considered community or separate property
How any inheritance will be paid to the children
Responsibility of premarital debts
How property will be distributed upon the death of either spouse
The amount of alimony to be paid to the spouse
The financial responsibilities of both parties during the marriage
Specify which state will legally govern the contract—where the couple was married vs. where they were divorced
How disputes regarding the agreement are to be resolved; i.e. through mediation or arbitration
Required length of marriage

Although many states allow these agreements to deal with alimony, a family court judge may invalidate this provision if he feels the amount to be unfair.

Fees for Prenuptial Agreement

Most lawyers will start with a template when preparing prenuptial/post-nuptial agreements, and then customize it to meet the needs of the client. Attorneys who draft these documents will usually request an initial retainer and then charge for their services by the hour. An average cost can range from $800 to $1500 for a relatively simple contract, and run into the thousands, depending upon the complexity of the issues.

Additional costs of a prenuptial agreement can occur due to:

Value of the home, business or other assets, such as an art collection, need to be appraised
If the couple spends time negotiating back and forth, this will increase the attorney’s fees
If the agreement has to be done in a short timeframe, more resources may be required to complete the contract

It is important that neither party be forced to sign any agreement under duress. You should plan well in advance of the wedding date when drafting a prenuptial agreement. Post-nuptial agreements are less likely to be challenged in court, as they are less likely to be viewed as coerced.

Getting Legal Help

Each party should be represented by their own attorney to protect their interests. While one attorney may draw up the contract, both people should have their own lawyer review the agreement before signing it. Most prenuptial agreements are valid, but steps should be taken to make sure they remain enforceable. For example, if the husband agrees to pay alimony in the amount of $2000 per month based upon assets of $1 million, and then it’s later revealed he has substantially more money, the contract could be invalidated. Both parties are required to give full financial disclosure.

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