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With the average cost of a traditional prenup being anywhere between $5,000 and $20,000 per partner, it’s simply not in the budget for both partners sometimes - enter First.
Prenups have become increasingly common among couples looking to protect their assets and clarify financial matters before saying “I do.” While these legal documents offer valuable benefits, they traditionally come with a hefty price tag. Since many circumstances require each partner to have their own lawyer for an enforceable prenup, a couple will often have to double the price most lawyers advertise. With the average cost of a prenup being anywhere between $5,000 and $20,000 per partner, it’s simply not in the budget for both partners.
Crafting a comprehensive and enforceable prenup requires the expertise of experienced attorneys specializing in family law and asset protection. Lawyers typically charge hourly rates for their services, and the complexity of the agreement impacts the overall cost.
Prenups are often complicated because every couple's financial situation and priorities are unique, requiring personalized clauses and provisions in the prenup. Customizing the agreement to address specific assets, income streams, and potential scenarios adds to the time and effort involved in its drafting.
Then it’s time for negotiations, which can involve multiple rounds of discussions and revisions between the parties and their respective attorneys. Additionally, thorough review and scrutiny of the agreement are essential to ensure its enforceability and alignment with legal requirements, further contributing to the cost.
Many couples that can't afford getting a prenup the traditional route look for online solutions, or decide prenups are only for the rich, not for them. The prenups found online can range anywhere from $100 to $1,000 for a simple draft that’s not personalized, and likely won’t align with legal requirements for enforceability. Others offer more personalization and run $1500 and up. These online solutions do not include the cost of having a lawyer for each partner review the draft, which is a requirement in many states and circumstances and often the most expensive part of the process once you take their document offline.
This is where First comes in.
At First, we gathered some of the top family law attorneys and experts to create a sound, easy to use solution which couples can use to create a personalized prenup that will cover their unique situations and priorities.
Most importantly, we include the cost of lawyers in our prenup package. On our platform, each partner will be able to choose from a list of pre-vetted lawyers who are experts in the field of family law and experienced in handling prenuptial agreements. These independent lawyers will work with you to ensure your prenup is equitable, enforceable, and easy to understand.
We created our platform with the intention of keeping prenups affordable and enforceable for those that couldn’t find the budget for a prenup the traditional way. Learn more about what we offer at Why First?
Sources:
https://purposedrivenlawyers.com/is-your-prenuptial-agreement-enforceable-california/
