Anyone who has read a tabloid has probably read the scandalous details of celebrity divorces. The lives of the rich and famous, their marriages and often their prenups and divorce battles splashed across the pages of glossy magazines. The prenuptial agreement cost for these couples would have been nothing compared to the financial impact the divorce had.
I know what you’re thinking… “But I’m not rich or famous, why should I worry about a prenup?”.
After all, it’s easy to assume, divorce proceedings only get ugly for the famous. Not true, according to experts. While most people would like to think of marriage as solely a union between two people born out of love, marriage is also about the merging and protection of assets. If you are wondering “how much does a prenup cost?” you aren’t alone. It is a common question.
Some clients we see worry about the stigma attached to prenuptial agreements, while others concern themselves with the cost associated with a prenuptial agreement. So, how much does a prenuptial agreement cost?
Average Prenuptial Agreement Cost
Figuring out the cost of a prenuptial agreement will depend largely on your assets, as well as the complexity of the agreement. In many cases, your lawyer will charge by the hour to draw up a prenuptial agreement. However, at Ogborne Law we work on a flat-fee basis according to your needs. The costs can vary from a few thousand dollars to tens of thousands depending on what you need to cover.
The lowest cost you can expect to pay for a prenup ranges from $1,200 to $2,400 for the US in 2019. According to BusinessInsider, “Typically, prenups cost around $2,500, but can cost more if you spend a while haggling out various issues.” But – that’s only the cost if your finances are uncomplicated. Couples negotiating complex issues, or who live in major urban areas, can expect to pay anywhere from $7,500 to $10,000 per party.
There isn’t a set cost for prenups. According to GoBankingRates, “Prenup price estimates are all over the map. One California firm says the average prenuptial agreement its attorneys write costs between $2,000 and $6,000 per person. Some charge a set fee; many charge by the hour. If you have no money, you have no prenup.” *Disclaimer – These fees are always changing, and this is not an actual quote. If you need an experienced prenuptial agreement attorney contact Ogborne Law to start your initial consultation.
In contrast, according to recent reports, the average cost of an engagement ring is $5,978, and the average wedding costs $26,720. When you consider those numbers, the cost of a prenuptial agreement is likely to seem far more reasonable. And a prenup is ensuring your financial protection for years to come.
How much does a prenup cost? Simply put, it depends. It doesn’t cost more than the average wedding and offers financial security that is priceless.
Preputial Agreement Cost Factors
- The cost factors of a prenuptial agreement include:
- The city you live in
- The complexity of the agreement
- Reputation and practice of the lawyer drafting the agreement
- Prenuptial agreement lawyer fees
- Your assets
- Prolonged negotiations
- Negotiating complex issues
Long-term Thinking About a Prenuptial Agreement
At Ogborne Law, we believe if you and your fiancé are talking about a prenuptial agreement then you’re open to a level of communication rarely seen in today’s relationships.
By talking about the future of the relationship you also discuss the true costs to each of you in the long run.
Ending a marriage is never easy. By laying out the ground rules, you protect both your finances and assets.
The prenuptial agreement cost is an investment in your marriage and offers protection you cannot achieve any other way.
When To Talk About Prenuptial Agreements
Once you’ve answered the question “how much does a prenup cost?” you are probably wondering how to broach the topic and when to discuss it. We suggest all parties who are going to sign a prenup to do so at least 30 days before the wedding, but the papers should be drawn up months before the date of the marriage. A few months before the wedding allows time for everyone to look over the paperwork.
You and your future spouse should ideally begin discussing prenuptial agreements before having papers drawn up. It is best to broach the topic calmly roughly six months before the wedding date. This will give you both enough time, as a couple and as individuals, to discuss your financial goals and lifestyle choices, and come up with some ground rules for the agreement.
Trust Ogborne Law for Your Prenuptial Agreement in Phoenix, AZ
At Ogborne Law, we dedicated our time to working with couples as they hash out the details of a prenuptial agreement. We understand that the process can be stressful, and aim to make it easy and straightforward. Ogborne Law we work on a flat-fee basis according to your needs. The costs can vary from a few thousand dollars to tens of thousands depending on what you need to cover. Learn more about the cost of a prenup in Arizona.
Our service area for prenuptial agreements in Phoenix, Arizona including Paradise Valley, Fountain Hills, Cave Creek, Carefree, and more. We also service many popular Phoenix neighborhoods such as Paradise Valley Village, Desert Ridge, Desert View Village, Norterra, Deer Valley, North Mountain Village, Arrowhead Ranch, Camelback East Village, Arcadia, Kierland, and more.
We also offer services that include the evaluation of business and estate planning. These services can work in conjunction with your prenuptial agreement to ensure your complete protection in the case of divorce. To better understand your options and the cost associated with prenuptial agreements call Ogborne Law today for a consultation. We are happy to answer all your questions from “How much does a prenup cost?” to “how do I talk to my fiancé about it?”
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.