Welcome to the Aloha State! Between the stunning landscapes and magical sunsets, a prenup is probably the last thing on your mind, but we’re here to tell you why it should be top of mind. Just like having the right SPF is key for those endlessly sunny days in paradise, getting a prenup is a great way to protect yourself and your assets. Whether you’re preparing to tie the knot soon or you’re just gathering some information, understanding how to get a prenup in Hawaii can help ensure that your financial future shines bright as the island sun.
Why should I consider getting a prenup?
To understand why you should get a prenup, first, let’s establish what a prenup is. In Hawaii, a prenup is referred to as a “premarital agreement,” but it means the same thing. A prenup lets you and your future spouse decide how you will divide your assets and debts if you get divorced or if one of you passes away.
Without a prenup, Hawaii’s default laws will determine how everything will be divided. As you can imagine, this may not match up with what you and your spouse would prefer. As a result, this could lead to conflicts over asset and debt distribution. Additionally, decisions about spousal support (a.k.a. alimony) will be left to state law (and the judge’s discretion) instead of what you could have agreed to in a prenup.
Can anyone do a prenup?
If you think prenups are just for the rich and the famous, think again! You don’t have to be a high roller to benefit from a prenup. Prenups are for anyone who wants to map out their financial future with their soon-to-be spouse in the event of divorce or death. Whether you have $5 or $500,000, if either you or your fiancé identifies with any of the below statements, a prenup might be right up your alley:
- You own valuable stuff like a house, condo, bank accounts, or investments and you want to make sure it remains yours.
- You currently own a business or plan to start one during your marriage and want to keep it as separate property.
- You’re carrying significant debt (i.e., student loans, medical debt, etc.) or plan to incur significant debt during the marriage (i.e., residential mortgage) and want to define how it will be handled.
- You’re expecting an inheritance from your family, or you might receive regular gifts from your family (think: Christmas and birthdays), and want to make sure they stay separate.
- You make more money than your fiancé and want to set clear expectations regarding any potential spousal support awards.
- You plan to forgo your career to support your spouse, or to raise children one day, and you want to make sure you won’t be left without financial assistance if you divorce.
- You have children from a previous marriage or relationship and want to make sure certain assets go to them.
There’s no “money requirement” for getting a prenup–you can get one even if you have $0 in the bank! They can be used to protect yourself against your partner’s debt, your future money, or even just for spousal alignment on financial goals.
How much does it cost to write up a prenup?
There’s a pretty sizable cost difference if you create a prenup with an online service (like ours) or hire a local attorney (or both).
According to our 2024 Family Law Attorney Survey, family law attorneys from around the country reported that the average cost for a prenup is about $8,000 per couple! Granted, this number can fluctuate based on the state you live in and the attorney you select. But this still gives you a ballpark figure of how much you might have to spend if you go the traditional prenup route. And if you live in Hawaii, you know things ain’t cheap there!
On our platform, you’ll spend $599 to create a prenup. Want the peace of mind of having an attorney review your agreement as well? You can add on optional attorney services for a flat fee. The best part? You can do all of this without even leaving your couch!
What is the process of signing a prenup in Hawaii?
Still trying to figure out where to start first? Don’t worry; we’ve got you covered. Check out this step-by-step guide on how to navigate the prenup process in Hawaii:
Step 1: Talk It Out. Have a conversation with your fiancé about why you want a prenup and what you want it to include. For some context about what you can include in your prenup, check out the fine print in Hawaiian Revised Statutes, Section 572D-3. Your prenup can address various issues, like protecting pre-marital assets, assigning responsibility for debts incurred during the marriage, or planning for future assets like a potential inheritance or gifts from family.
Step 2: Decide HOW to Draft the Prenup—Online or In Person. Your prenup must be documented in writing to be enforceable in Hawaii (Hawaiian Revised Statutes, Section 572D-2). You can choose between using an online service (like HelloPrenup) or visiting a local attorney. With HelloPrenup, you get the best of both worlds. Draft your prenup and add on optional attorney services at a flat, discounted rate.
Step 3: Get Your Financial Ducks in a Row. Gather all of your financial information, including bank accounts, income, property, and debts. Both parties have to fully disclose this information to each other, including account numbers and values (Haw. Rev. Stat. § 572D-6). For example, it’s not enough to just list the vehicle you own. You also have to include the dollar value and any outstanding loans. If you’re thinking about just leaving it off altogether, think again. Omitting details or hiding information could jeopardize the validity of the prenup and render it unenforceable (Haw. Rev. Stat. § 572D-6).
Step 4: Review and Revise (and Repeat as Needed). Take a close look at any drafts to make sure they accurately reflect what you both agreed on. If necessary, make revisions to the agreement before you proceed to the next and final step.
Step 5: Sign and Notarize. Both of you need to sign the prenup voluntarily and without any coercion or duress (Hawaiian Revised Statutes, Section 572D-2 and Haw. Rev. Stat. § 572D-6). Notarization isn’t required, but it’s something that is recommended. Why? Because it helps avoid any future arguments about whether you both signed the prenup or knew what you were agreeing to.
Can I write up my own prenup in Hawaii?
Trying to draft a prenup on your own might seem like a smart way to save money, but it’s not recommended (sorry to burst your bubble). Prenups are very complex legal documents that combine both contract law and family law principles. Without the expertise that’s required to navigate both areas of law, your prenup faces an uphill battle in court.
Let’s take a look at a landmark Hawaiian case, Lewis v. Lewis, 69 Haw. 497. This case involves a 1970 prenup that the couple entered into in New York. In the prenup, the Wife was guaranteed $1,000 per month in spousal support until death or remarriage. However, when the parties divorced in 1985, the Wife contested the prenup’s enforceability. Specifically, the Wife argued that the agreement was unconscionable (i.e., one-sided) because she was able to get $2500 per month in spousal support without a prenup.
The Hawaiian Supreme Court reasoned that unconscionability is determined by one-sidedness (i.e., terms that leave one spouse in an “unjustly disproportionate” financial situation) and unfair surprise (i.e., one spouse did not have sufficient knowledge of the other’s finances at the time of the prenup). Moreover, the unconscionability of spousal support clauses in a prenup has to be examined at the time of divorce.
The bottom line? Drafting a prenup involves more than just outlining your wishes to protect your own best interests. Courts in Hawaii will also examine your prenup to make sure that it results in a fair outcome for both parties. Being able to strike this balance is no small feat. So, while writing your own prenup could save you money upfront, it could cost you way more in the long run if your prenup is deemed unenforceable.
The bottom line on how to get a prenup in Hawaii
That’s a wrap on how to get a prenup in Hawaii! Navigating the prenup process in Hawaii can be as easy and enjoyable as a day at Waikiki Beach. By following the essential steps—chatting with your fiancé, choosing between online or in-person drafting, gathering financial details, reviewing carefully, and signing and notarizing—you’ll have a prenup that’s as ready as you are for your next island adventure. So, if you’re still considering a prenup, it’s a good idea to get assistance from HelloPrenup or a local Hawaii attorney to make sure everything is properly handled.
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