Calling all Palmetto State residents! No other state does southern charm quite like South Carolina. Whether you’re in the wedding planning trenches or just gathering information, we’ll walk you through everything you need to know about how to get a valid and enforceable prenup in South Carolina. Let’s dive in!
Should all soon-to-be-married couples get a prenup?
Yes, we think so! But don’t just take our word for it. Prenups (or “premarital agreements” as they’re known in South Carolina) put you and your fiancé in the driver’s seat when it comes to your financial future. With a prenup, you can spell out who gets what and whether either spouse will be entitled to spousal support (a.k.a. “alimony”) if you get divorced. Without a prenup, South Carolina’s default laws will decide all of this for you.
South Carolina is an equitable distribution state, which means that a court will divide your assets (i.e., bank accounts, investments, vehicles, real estate, etc.) and debts (i.e. mortgages, credit card debt, student loans, medical debt, etc.) based on what’s fair (S.C. Code Ann. § 20-3-620). Although fair doesn’t necessarily mean equal (i.e., not 50/50) you may have a very different idea of what would be a fair outcome based on the circumstances.
For example, the court could split credit card debt incurred for household expenses between you and your spouse. This is the case even if the credit card isn’t in your name. Would you prefer for the spouse who incurred the credit card debt during the marriage to be responsible for its repayment? Then you need a prenup, stat!
How much money should you have to get a prenup?
Contrary to popular belief, everyone can benefit from a prenup. Even if your overall net worth today doesn’t exactly rival Bill Gates, it’s important to plan for what your financial picture might look like in the future.
For example, let’s say you purchased a home before the marriage worth $200,000. However, during the marriage, the value of the property increases by $300,000. Would you want this appreciated value to remain your separate property? If you get divorced without a prenup, a court could divide a portion of this amount between you and your spouse. However, with a prenup, you can specify that the appreciated value of your separate property remains your separate property.
How much does it cost to write a South Carolina prenup?
That’ll depend on which route you take, between an online platform (like us) or a local South Carolina attorney (or both).
The average South Carolina family law attorney charges $267 per hour. Remember that you and your fiancé cannot share the same attorney and will need to hire separate legal counsel. Your final bill will depend on how much consultation time you have with your attorney, how many hours of negotiation take place between your attorney and your fiancé’s attorney, and the time it takes your attorney to revise the draft of the prenup accordingly. As you can tell, these costs can start to add up pretty fast.
With HelloPrenup, you’ll know exactly what you’re paying upfront. Create a state-compliant prenup for $599 per couple with the option to add on attorney services at a discounted flat rate.
Is a prenup easy to get in South Carolina?
It sure is! We’ve created a step-by-step approach to streamline the process for you. Check it out below:
Step 1: Get on the same page with your boo. If you haven’t already done so, have a conversation with your fiancé about why you’re interested in getting a prenup and what you want it to address. Based on South Carolina case law (see: Hardee v. Hardee, 585 S.E.2d 501 (2003), Hudson v. Hudson, 757 S.E.2d 727 (2014), and Holler v. Holler, 612 S.E.2d 469 (2005)), your prenup can address anything from property division, purchasing life insurance for the benefit of the other spouse, to responsibility for debts. Just be sure to avoid anything that violates the law or public policy (i.e., terms regarding child support or custody).
Step 2: Pick your preference – online platform, local attorney, or both. Whichever route you take, your prenup has to be in writing in South Carolina (S.C. Code Ann. §20-3-630(4)). You can get referrals to local attorneys through your friends and family, an online search, or the South Carolina Bar. With our platform, you can do both! Get a state-compliant prenup and add on optional attorney services to consult with a South Carolina attorney for added peace of mind.
Step 3: Put all your financial cards on the table. Both fiancés will have to fully disclose their financial information in order to have a valid and enforceable prenup (S.C. Code Ann. §20-3-630(4)). This means you’ll both need to list the values of any assets (think: bank accounts, vehicles, real estate, etc.) as well as any debts (think: mortgages, liens, credit card debt). It’s not enough to merely list Savings Account 6789; you’ll also need to list the balance. If either spouse fails to do so, your prenup may not be enforced.
Step 4: Draft, review, and revise your prenup. Review the draft of your prenup to make sure it reflects what you and your fiancé have agreed to. If not, revise the agreement until it does. Only sign off on the final version of your agreement that you feel comfortable with.
Step 5: Cross the finish line and sign! (and notarize for good measure). Remember, both spouses need to sign the agreement voluntarily (S.C. Code Ann. §20-3-630(4)). This means you cannot pressure, bribe, or strongarm your fiancé into signing the prenup. Otherwise, it may not be enforced. Even though notarization isn’t a South Carolina requirement, it’s an easy way to validate your spouse’s signature if they ever dispute signing the agreement.
Do you need a lawyer for a prenup in South Carolina?
Yes. Both fiancés need to have independent legal representation in order for your South Carolina prenup to be valid and enforceable (S.C. Code Ann. §20-3-630(4)). This means you will each need to hire separate attorneys. Whether each party received independent legal counsel is a key factor that the court will consider when it examines if both parties voluntarily entered into the agreement and understood its terms (Holler v. Holler, 612 S.E.2d 469 (2005)).
In Holler v. Holler, the court determined a prenup was invalid and unenforceable for several key reasons. Namely, the wife was from Ukraine and spoke little to no English. She was completely financially dependent upon the husband. As she was unable to afford an attorney or translator, the wife signed the prenup without understanding what she was agreeing to. However, the wife felt compelled to sign the agreement as the husband claimed it was a prerequisite for getting married in South Carolina. As her visa was expiring, the wife would have been forced to go back to Ukraine with their unborn child if she didn’t sign the prenup.
To cap it all off, the agreement included terms that were solely beneficial to the husband. Based on these circumstances, the court determined that the wife did not voluntarily enter the agreement with an understanding of its terms.
Bottom line? Make sure you both have legal representation at the time of prenup. Having an attorney is a significant factor that the court will assess to determine whether both parties freely entered into the prenup and understood its terms.
The bottom line on how to get a prenup in South Carolina
And that’s all the news that’s fit to print about how to get a prenup in South Carolina! Getting a prenup in South Carolina is as easy as the summer breeze through Hilton Head Island. If you follow the roadmap we outlined, you’ll be well-equipped to get a valid and enforceable prenup in South Carolina. If you get stumped somewhere along the way, remember to reach out to a local South Carolina attorney or HelloPrenup for a lifeline.
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