How much does a prenuptial lawyer cost in Maryland? $10k? $5k? $1k? It depends on where you go to get one. You can go the traditional route of hiring an attorney, or you can go through HelloPrenup, where the prices are generally a bit more affordable. The price can vary dramatically when you go the traditional attorney route, so let’s dive into everything you need to know about the cost of prenup attorneys in Maryland.
The average cost of a prenup attorney in Maryland
It’s hard to say exactly how much the average prenuptial agreement attorney costs in Maryland. However, according to Clio, the average hourly rate of a Maryland family attorney is $324. Of course, this rate can vary depending on each attorney’s accolades, appetite for prenups, experience, geolocation, and more. Then, there is also the variable of each client’s needs. Some clients take more time than others to craft and finalize a prenup. For example, if a person has extremely complex finances, it will generally take the prenuptial agreement lawyer longer to finalize the agreement than someone with simple assets.
HelloPrenup’s cost vs. Traditional attorney cost
If you decide to go the HelloPrenup route and hire an attorney through HelloPrenup, you can dramatically reduce the amount of time the attorney spends on the agreement, thereby slashing the attorney costs. With a HelloPrenup lawyer, you can expect to pay $699 per person, no additional fees, and no fluctuation in price. On the other hand, if you go the traditional route of hiring an attorney outside of HelloPrenup, your pricing will depend on the experience of the lawyer, their accolades, their education, the complexity of your case, and your finances, etc.
Why are HelloPrenup attorneys cheaper than non-HelloPrenup attorneys?
The HelloPrenup system uses a two-party system to generate a tailored agreement that is specific to the customers’ needs. It also assists the customers through negotiations. This allows them to bring a fully drafted and negotiated agreement to an attorney for review and edits. This significantly cuts down on the attorney’s time spent on the agreement, allowing them to charge less! Attorneys on the HelloPrenup platform can still review, make changes, and sign just like they would any other contract, but the process is faster and easier.
Why do some attorneys charge more than others?
If you got a quote from one Maryland attorney for $10,000 and another quote for $2,500, you may be wondering how there’s such a huge discrepancy in price. This can really depend on the attorney’s pricing structure. They may have more experience, deal with higher net worth clients, have an Ivy League education, or simply want to charge more for liability purposes or other reasons. There’s no real set price that prenups are mandated to be charged at—so if there are differences in pricing, it’s generally just because of the differences in the attorney’s personal pricing structure.
How much money do I need to get a prenup?
There’s no set amount of money any client needs to have in order to get a prenuptial agreement in Maryland. You can have $0 and still get a prenup (and it can still benefit you, too!). For example, even if you have no money, a prenup could benefit you by protecting you from your partner’s debt or future debt. Or maybe you have no money now, but you will in the future (prenups can protect that future money, too).
Are lawyers required to have a valid prenuptial agreement in Maryland?
No, you do not need a lawyer to create a valid and enforceable prenuptial agreement in Maryland. However, according to the Maryland Court in Cannon v. Cannon, 384 Md. 537, 567, 865 A.2d 563, 580 (2005), each party must have the opportunity to hire an attorney if they want one. This means they had enough time and resources to hire a lawyer if they wanted one. For example, if one person springs the prenup on the other right before walking down the aisle, the person caught by surprise may not have a meaningful chance to hire a lawyer if they want to.
The law on prenuptial agreements in Maryland
Prenuptial agreements in Maryland are governed by state law through a mixture of case law and statutes. The general requirements for a valid and enforceable prenup in Maryland are:
- Put the agreement in writing
- Both parties signed it
- Both parties provide financial disclosure to the other (sharing all income, assets, debts, and future inheritances)
- The agreement is entered into voluntarily
- The agreement is not unconscionable (i.e., grossly unfair)
If you follow the above requirements, you will be well on your way to getting a valid and enforceable prenuptial agreement in Maryland.
The bottom line on the cost of a Maryland prenuptial agreement lawyer
The cost of a prenup lawyer in Maryland will greatly vary depending on the specific lawyer and your unique needs. There may be a wide range of quotes you get from different attorneys which all is a reflection of each lawyer’s personal pricing structures. HelloPrenup offers an affordable way to slash pricing by allowing you to still hire Maryland lawyers for a fraction of the price. And there’s no set amount you need as the client to get a prenup—even people with nothing can benefit from one! Happy planning!
Cary Jacobson is the founder and CEO of Jacobson Family Law. Cary has been practicing law for over a decade, having successfully represented clients in all facets of family law proceedings. Jacobson Family Law focuses on assisting clients in creating out-of-court solutions to their separation, divorce, custody, and other family law matters without the drama and stress associated with litigation. Additionally, Jacobson Family Law assists clients with protecting their assets through the negotiation of pre/post-nuptial agreements and estate planning.
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