Welcome to the Green Mountain State! While navigating the prenup process may not be as scenic as a trip through one of Vermont’s historic covered bridges, it’s an important step toward starting your future together on solid footing. Whether you already call Vermont home or plan to one day in the future, understanding how to get a valid and enforceable prenup here is key. In this article, we’ll walk you through everything you need to know so you can get back to the fun stuff and enjoy everything Vermont has to offer!
When you get married should you get a prenup?
Obviously, we’re biased, but yes, of course, you should consider getting a prenup! But don’t just take our word for it. Think about it this way: if you don’t have a prenup when you get married, you already have one–it’s Vermont’s default state law. Essentially, without a prenup, you lose control over how your property will be divided if you get divorced. You’ll also potentially have no say so in how spousal support (also known as “maintenance” in Vermont) will be handled.
Instead, Vermont’s default laws will make those decisions for you. Vermont is an equitable distribution state, which means a court will divide assets based on what’s fair. Fair does not necessarily mean equal (i.e., 50/50). However, your view of what’s fair may differ significantly from what the court decides. Check out Vt. Stat. tit. 15 § 751 for the laundry list of factors that a Vermont judge can consider to determine how your property should be divided.
So, if you’d rather not risk having a judge make these types of decisions for you, then a prenup is your golden ticket!
How much money should you have to get a prenup?
There’s no specific amount of money that you need to have to benefit from a prenup. You don’t have to be a baller to get a prenup. Remember, your financial situation today may not necessarily look the same in the future.
For example, let’s say you open a 401(k) retirement account a few weeks before your wedding. The pre-marital value of your account is separate property, but the money you add to the 401k is considered marital property. Would you be comfortable with dividing the growth in value of your retirement account with your spouse in the event of a divorce? Without a prenup, it’s a possibility that the court can award a portion of this amount to your spouse based on equitable distribution laws.
However, with a prenup, you can specify that you want the contributions and appreciated value of your pre-marital assets to remain your separate property. Take a look at Vt. Stat. tit. 15 § 751 to read the fine print about Vermont’s property division laws.
How much does it cost to write up a prenup in Vermont?
It depends on whether you go the online route (with a platform like ours) or hire a local attorney in Vermont (or both–we have attorneys in Vermont, too!).
The average rate for a family law attorney in Vermont is $279 per hour. Remember, you’ll have to hire two separate attorneys. Let’s say your attorney takes 12 hours total to finalize your prenup. That breakdown could look something like 2 hours of consultations with your attorney, 4 hours to complete negotiations with opposing counsel (i.e., your fiancé’s attorney), another 4 hours to draft the agreement, and 2 hours to review and revise the agreement. Based on this breakdown, your final bill would cost $3,348 for just one fiancé! And no, you cannot hire one attorney to represent you both.
Alternatively, with HelloPrenup, you’ll pay $599 for a state-compliant prenup with the option to add attorney services at a discounted flat rate.
How do I ask for a prenup?
If you’re not sure how to go about asking for a prenup, start a conversation with your fiancé about why you want a prenup and what you think it should include. Based on Vermont case law, your prenup can include anything from property division to spousal support (a.k.a. “maintenance” in Vermont) as long as the agreement is not unconscionable (i.e., egregiously one-sided) and does not leave one spouse reliant upon public assistance. Bassler v. Bassler, 593 A.2d 82 (1991).
Steps to getting a Vermont prenup
Once you’ve asked for a prenup with your partner and had the first prenup discussion, it’s time to start the prenup process. Not sure where to start? Check out the roadmap we’ve created for you below:
Step 1: Choose Between an Online Platform, Local Attorney, Or Both. Your prenup has to be in writing in order to be an enforceable agreement Bassler v. Bassler, 593 A.2d 82 (1991). If you decide to hire a local Vermont attorney, you can get references from family and friends, an online search or through the Vermont Bar Association. With our platform, you can blend both options. Create a state-compliant prenup and add on optional attorney services for added peace of mind.
Step 2: Round Up Your Financial Information. You’ll need to provide your fiancé with “fair and reasonable” disclosure of your financial situation. (Bassler v. Bassler, 593 A.2d 82 (1991)). What does this entail? Sharing the values of all of your assets (i.e., bank accounts, real estate, investments) as well as your debts. Your prenuptial agreement could be voided if you leave out certain financial information.
Step 3: Draft, Review, and Revise. Hammer out the details of your agreement and make sure it accurately reflects what you and your fiancé agree to. You may have to revise your agreement until it does, and that’s okay! Don’t sign off on the agreement until you’ve finalized the terms.
Step 4: Cross the Finish Line – Sign and Notarize. Both fiancés must sign the prenup “voluntarily and freely” Bassler v. Bassler, 593 A.2d 82 (1991). Basically, you cannot pressure, bribe, or trick your fiancé into signing. Although notarization isn’t a requirement in Vermont, it’s still a smart move. Notarization can help prevent future disputes about the validity of your spouse’s signature or their awareness of the type of document that they’ve signed.
Can you just write your own prenup?
Although having a lawyer is not required to have a valid and enforceable prenup in Vermont, you should steer clear of writing one yourself (sorry to be a Debby downer). Prenups are very complex legal documents that require expertise in both contract and family law principles. Think of it this way—you may save a few bucks today by drafting a prenup yourself, but you could end up shelling out far more if a Vermont court determines that your prenup is unenforceable.
With HelloPrenup, you don’t have to worry about whether you have a state-compliant agreement because we’ve already taken care of that for you. If you want to customize your prenup further, you always have the option to add on attorney services.
The bottom line on how to get a prenup in Vermont
Well, that’s how to get a prenup in Vermont! Setting sail on the prenup process in Vermont can be as easy as a breezy summer day on Lake Champlain. Just follow the key steps—have a conversation with your fiancé, choose between an online platform or a Vermont attorney (or even both), round up your financial documentation, review and revise your draft, and sign and notarize your prenup. Don’t hesitate to reach out to a Vermont attorney or HelloPrenup to ensure that your financial future is secure today.
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