According to a HelloPrenup Survey, the average prenup costs $8,000 per couple. Yikes! That’s a lot. And with all the wedding expenses, engagement parties, honeymoon travel, bachelor/bachelorette parties, and bridal showers, it’s beginning to add up. The cost of a prenup lawyer can vary significantly, though, depending on a lot of factors. And the good news is with HelloPrenup, the cost of prenup legal services is a flat, discounted rate that we’ve already negotiated for you. But, if you want to weigh out your options and see what else is out there, keep reading to find out how much a prenup costs with a family law lawyer.
What is the cost of a prenup lawyer?
According to our family law lawyer survey from attorneys across the US, the average prenup costs $8,000 per couple.
With HelloPrenup, the cost is very straightforward: $599 per couple! If you want to add on attorney services with a vetted attorney in your state, that’ll be an additional fee at a flat, discounted rate. That’s it! No tricks, no hidden fees, and no scary costs. It’s just flat fees for one awesome prenup.
Are there ways to save on a prenup but still get the protection you need?
Absolutely! While most attorneys don’t offer coupon codes for their services, there are still some ways to be cost-conscious when getting a prenup without sacrificing on quality:
- Organize & Prepare Finances: Being organized with financial information (account statements, tax returns, value of assets, loan statements, appraisals of property, etc.) saves your lawyer time, reducing your bill. For example, if you come to your attorney with a stack of tax returns that are all mismatched and in disarray, it’s going to cost your attorney’s time to organize it and understand what they’re looking at.
- Agree on the Basics: If you and your partner are mostly on the same page, it minimizes negotiation time, keeping costs down. However, don’t agree just to save money. Agreeing to a prenup that doesn’t make sense for you or you don’t feel is fair can be detrimental to you and could even put the prenup at risk of being thrown out in some extreme situations.
- Consider “Hybrid” Options: Consider using a platform like HelloPrenup, where you can get the initial draft of the prenup done and then take it to a lawyer. This can be more affordable than a fully bespoke approach.
- Seek Referrals: Ask friends or family if they know a lawyer specializing in prenups who offers competitive rates.
Important Caveat: Don’t sacrifice quality for the sake of saving a few bucks. A poorly written prenup could cost you far more in the long run if challenged in court.
Factors affecting the cost of a prenup lawyer
While services like ours here at HelloPrenup offer a clear, flat-rate pricing structure, the cost of drafting a prenup with a traditional family law lawyer can fluctuate significantly. Here’s a breakdown of the primary factors that affect cost variation in prenups:
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Your Location: Lawyers, like all professionals, adjust their fees based on the cost of living in their area. Expect to pay significantly more for experienced counsel in major cities like New York or Los Angeles compared to smaller towns or rural areas such as Bloomington, Indiana.
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Attorney’s Experience and Reputation: Naturally, a seasoned lawyer specializing in prenups with a track record of success will command higher rates than someone fresh out of law school. If your situation is simple, a less experienced lawyer might suffice, but complex cases may demand the expertise of a high-priced specialist.
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Complexity of Your Finances: The more complicated your assets and financial situation, the longer it will take your lawyer to understand, research, and draft the prenup. Consider these factors to get an idea of what might be a complex financial situation:
- Multiple properties: Vacation homes, rental properties, etc.
- Businesses: Think family businesses, part or full owner in businesses, or joint spouse-owned businesses.
- Investments and Retirement Accounts: Stocks, bonds, 401(k)s, etc.
- Inheritances and Trusts: Some trust documents can be hundreds of pages long, which can affect the cost a lawyer may charge to review.
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Negotiations and Revisions: If you and your partner have vastly different financial situations or disagree on certain prenup terms, more time may be spent negotiating. Each back-and-forth and revision adds to your legal bill (attorneys usually charge by the hour, remember).
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Additional Costs: Don’t forget potential fees for consultations, document review, and even hiring other experts (e.g., an appraisal service to value an asset).
Will having a simple prenup save me money?
The short answer: It often can be cheaper! But it depends. People often ask if they only want a simple prenup (i.e., he keeps his, she keeps hers), will it be cheaper? Let’s discuss…
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Less Complexity = Less Lawyer Time: Straightforward agreements (e.g., keeping pre-marital property separate) generally require less drafting and explanation, reducing billable hours.
- Finance Complexity: If you have complex finances, this can throw a wrench in your plan to save money. For example, let’s say you have a 500-page trust fund. Attorneys often want to review such documents, which can take a lot of time and billable hours. On the other hand, if all you have is a 401k, this can be a lot more straightforward and ultimately cost less of the lawyer’s time.
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Faster Agreement: If you and your partner easily agree on what goes into the prenup, there’s less back-and-forth on drafting the agreement and negotiation, which also saves on legal fees.
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Fewer Potential Disputes: A clear and simple prenup may be less likely to cause costly disagreements on the terms of the agreement if you do end up divorcing.
Caveat: HelloPrenup offers a flat rate for a prenup regardless of how simple your requests are. You can sleep soundly at night knowing there are no unexpected fees or unpredictable bills headed your way.
Benefits of a prenup
Despite what many may think, prenups can be for everyone, not just for the rich and famous. A prenup can benefit people even with modest or no assets (yet). For example, you can protect future inheritances and protect yourself from your partner’s debt in a prenup. At the end of the day, prenups can help anyone. Here are the ways in which a prenup can benefit you:
- Peace of mind: A prenup gives you peace of mind (that’s why we like to call it “marriage insurance”). You never think or hope your marriage will come to an end, but playing it safe can help put you at ease.
- Open communication: The process of getting a prenup creates open and honest communication. You will be forced to discuss uncomfortable topics you may not have discussed before. You will really get to know your partner on a deeper level because of this.
- Partner alignment: You and your partner will be aligned before even starting the marriage. A prenup requires you to be on the same page regarding financial and life goals and expectations of one another.
- Saves money: A prenup saves you money by predetermining issues you may have otherwise spent disputing in divorce court.
- Saves time: A prenup saves you time by reducing the number of hours your attorney has to work because you and your ex-spouse have already decided on certain issues like property division.
- Saves your sanity: A prenup saves your sanity by reducing the time and money spent in an already emotionally exhausting process. (More time wasted + more money spent = more stress)
- Control: Puts you and your partner in the driver’s seat when it comes to your stuff. Otherwise, you will be letting a judge decide on certain issues if you get a divorce.
- Protect children from previous relationships: Prenups can protect your assets for any children from another relationship.
- Protect family money: Prenups can protect your family’s wealth by keeping any inheritances and gifts separate.
- Protect assets: Prenups can protect your businesses, real estate, retirement funds, bank accounts, precious artwork, crypto, and much, much more.
- Balance power dynamics: A prenup can balance out an uneven power dynamic in a couple by balancing the financial playing field. If one partner is significantly more wealthy than the other, a prenup can provide the less wealthy partner with more property than they entered the marriage with, which in turn gives them more agency in the relationship.
The bottom line on the cost of prenups
Getting a prenup is a financially savvy move, so don’t let the potential cost scare you away. While traditional lawyers can be expensive, with an average prenup costing a staggering $8,000, services like ours here at HelloPrenup offer prenups at a clear, flat rate. Remember, a prenup isn’t just about protecting what you have now; it’s about safeguarding your future. Whether you’re building a business, expecting an inheritance, or simply want to avoid costly legal battles down the road, a prenup provides invaluable peace of mind.
Frequently Asked Questions (FAQs) about the legal cost of a prenup
This is a hot topic–everyone who is interested in a prenup wants to know what they’ll be spending. Let’s dive into some more FAQs on this topic.
Q: Does the cost of a prenup vary from state to state?
A: Yes, if you are going the traditional route of hiring a lawyer. If you choose HelloPrenup, the cost is the same in every state–$599.
Q: How much does the average prenup cost?
A: According to our survey of family law attorneys across the U.S., the average prenup costs $8,000 per couple. However, this price can fluctuate depending on a bunch of different factors and can
Q: Do lawyers offer payment plans or reduced rates for prenups?
A: Possibly, but it depends on the lawyer and their practice.
Q: If I have basic finances, will my prenup be cheaper?
A: Possibly! It may reduce the amount of time that your lawyer takes reviewing your finances for financial disclosure. However, this doesn’t affect the price of a HelloPrenup prenup–it’s $599 all around for everyone.
Nicole Sheehey is the Head of Legal Content at HelloPrenup, and an Illinois licensed attorney. She has a wealth of knowledge and experience when it comes to prenuptial agreements. Nicole has Juris Doctor from John Marshall Law School. She has a deep understanding of the legal and financial implications of prenuptial agreements, and enjoys writing and collaborating with other attorneys on the nuances of the law. Nicole is passionate about helping couples locate the information they need when it comes to prenuptial agreements. You can reach Nicole here: [email protected]
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