Drafting a prenuptial agreement (prenup) is a service. Like any other legal document, it comes with a price. There’s no such thing as a “basic” prenup cost. The price can depend on many factors.
The prenup cost is dependent on the amount of time your attorney spends. An uncomplicated prenup cost will be less than one that includes large amounts of property and assets or debt. Your marriage agreement should be something you can live with, and a legally enforceable prenup is something many people shouldn’t live without.
Lowering Prenup Cost with DIY
The details included, or excluded, from a prenup can make the document invalid. Although it may be tempting to do-it-yourself, this legal document isn’t a time to test your knowledge of the law.
Rather than trying to lower your prenup cost with a DIY prenup, spend some time preparing before you meet with your attorney. Organized, complete documents will help them quickly assess your situation and understand the full scope of what to include.
An Arizona prenup cost includes your attorney’s time researching and writing. It can describe your rights and responsibilities during the marriage. It can make arrangements for divorce and death, and include provisions for your future children.
Before and After
As its name indicates, a prenup agreement is something you create before your marriage. If you call off the wedding, the prenup is void. It’s not unusual to re-do your prenup after several years of marriage. This document is called a postnup, and it is often a very valuable addition to your estate plan.
Your prenup may include many what-ifs. However, a postnup is likely to include more complete knowledge about your assets, children, and future.
Who Benefits from a Prenup?
Any married couple that realizes the future is tentative needs a prenup. When a prenup is agreed upon by both partners, everyone wins. You, your children, and even the family pet can be protected against the uncertainties of disability, divorce, and death. Couples that especially need a prenup are people who:
- Anticipate a large inheritance
- Possess assets or debts
- Have children from previous marriages
- Are involved in separate business ownership or partnerships
- Have a large age difference
- Are in retirement
- Are in school
What’s Part of a Prenup?
The Arizona prenup should identify and protect the property that matters to both of you. It can also reduce emotional hurt and costs by making a plan from the beginning. Since you’re going into your marriage full of love and care, you are both likely looking out for each other’s best interests. An Arizona prenup lets you go in with eyes open and with mutual love… –Michelle Ogborne
You, your future spouse, and your attorneys will create your prenup agreement. A prenup can’t include anything illegal. You also can’t specify child custody or child support in the event of divorce. Those issues will be addressed based on the situation at the time of a divorce.
Arizona is a community property state. This means both of you jointly own the property you acquire during your marriage. A prenup defines individual property and assets from before marriage. It can specify if your assets and liabilities will remain in your possession throughout the marriage.
Planning for a Prenup
It’s not unromantic nor pessimistic to seek a marital or cohabitation agreement. This is what many responsible and caring individuals do to protect each other. It takes mutual love and financial maturity to include a prenup cost in your wedding budget. Skipping the prenup can end up being a very costly mistake down the road.
Engaging with an attorney to protect your family is never an easy step. Whether you need to protect your family from the unthinkable or restructure your family through collaborative divorce, we’re here to help. When you’re ready to schedule a consultation with Michelle Ogborne, please visit the scheduling page to get started.