No, HelloPrenup is not a law firm, and although we were created by a lawyer, we exist to simplify the often exceedingly over-complicated world of prenuptial agreements. If you’re looking to get a prenuptial agreement – congrats on making an effort to get your marriage started off on the right foot! The next step is deciding how to go about having the contract itself made. Whether it’s for the sake of convenience, the desire to stay at home, or for financial reasons, you may be looking to obtain your prenup via an online service, or you may be considering each hiring a law firm to represent your interests. While there are a variety of online legal service sites out there, did you know that HelloPrenup is the first of its kind when it comes to offering a site completely devoted to drafting state compliant prenuptial agreements? Keep reading to get a better sense of the different ways you can draft a prenup, whether it be through lawyers, online, or some combination of the two.
Creating a Prenup: To lawyer up or not
First thing’s first – let’s cover the different ways a prenup can be drafted. First, there is the traditional route of meeting with an attorney in person to first discuss, negotiate, and eventually draft the terms of your prenup. This established method allows for in person interaction with an attorney, but can come at a hefty price – the average traditional attorney-drafted prenup can cost each party approximately $2,500 per fiancé (as you cannot share an attorney and should each have your own attorney) and can take a significant amount of time to complete (think three to six months to negotiate, draft and finalize). Let’s break it down- typically, any attorney you hire will charge a retainer fee up front, or a flat price for their services. If your attorney charges by the hour (vs. by a flat fee), billable hours can add up fast. This can be a stressful financial burden when considering all of the additional expenses that go into a wedding, buying your first home as a couple, or just paying off student debt.
Now, it is worth mentioning that lawyers can be very helpful, and even essential to this process- especially if you have a complex financial situation, or questions about the laws of your state. It is important for you to understand what your legal rights are before signing your name to a legal document. HelloPrenup is not recommending that you avoid hiring a lawyer altogether – in fact, quite the opposite. With HelloPrenup, you can save time, money (and your sanity!) by negotiating the finer points of your prenuptial agreement through our platform, printing your draft, and bringing to an attorney for advice. Doing so means fewer billable hours and a lesser fee in the end.
Online form builders
Online form building services are an alluring option for many engaged couples- these services are often free or offered for a nominal fee and can be completed in about five to ten minutes. Sounds too easy, right? Right. Unfortunately, such services often lead to a less than desirable result. If you are engaging in prenup discussions with your fiancée, it is likely that your goal is to create an enforceable prenuptial agreement. Now, no legal agreement is 100% foolproof and there is never a promise of enforcement. However, your goal should always be the highest likelihood of enforceability. To do so, specific state requirements must be followed- full financial disclosure is very important, and it is extremely helpful to demonstrate that both parties engaged in negotiations. With a typical online form builder, these details are largely ignored- leading to a much lesser likelihood of enforcement.
HelloPrenup: Keeping the Awkwardness to A Minimum
HelloPrenup is designed to be a completely online and collaborative process, and was created to help reduce both the uncomfortable process of negotiations, and the costly expense traditionally associated with prenups. For far too long, money has been a taboo topic of discussion amongst couples – and yet, couples who frequently discuss finances are statistically happier in their marriages. Collaboration is also an important component to a happy marriage, and by creating a prenuptial agreement together by discussing the terms as a couple – rather than feeling as if you’re going head-to-head in a legal battle with your future spouse -HelloPrenup allows you and your fiancé to work on your prenup as a team.
At HelloPrenup, we take communication seriously, and HelloPrenup’s platform was designed with ease of negotiations between couples as a top priority. The drafting process includes an “Issue Identification” step, which allows you and your partner to spot any inconsistencies in your answers, and resolve them before you finalize the process.
Needless to say, this realm of legal jargon can often be confusing and even anxiety-inducing. HelloPrenup simplifies the process in an efficient and user-friendly way, that still allows you to seek legal counsel should you need it. And, if you are nervous that getting a prenup is basically spelling out doom for your marriage, remember that this is a myth. Despite their negative connotation, research actually shows that marriages with prenups in place tend to be stronger, as they force couples to talk about finances and their desires for the future long before those stressors present an issue in the marriage.
Explore HelloPrenup’s “FAQ”, “About Us”, and “How It Works” pages to gain a better understanding of how prenups work, what they can and cannot include, HelloPrenup’s creation process, and why we are the clear choice when it comes to drafting your prenup efficiently, at a fair price, and in way that will empower your relationship.
Julia Rodgers is HelloPrenup’s CEO and Co-Founder. She is a Massachusetts family law attorney and true believer in the value of prenuptial agreements. HelloPrenup was created with the goal of automating the prenup process, making it more collaborative, time efficient and cost effective. Julia believes that a healthy marriage is one in which couples can openly communicate about finances and life goals. You can read more about us here Questions? Reach out to Julia directly at [email protected].