If you are soon to be married and considering a prenuptial agreement, you are wise to focus on your financial future. However, you may have concerns about the expense in the short term. The costs of a prenuptial agreement in Fairfield vary depending on several factors.
Our experienced prenuptial agreement attorneys charge an hourly rate for negotiating, drafting, or reviewing an agreement. While there is an up-front cost involved, a well-structured prenuptial agreement often provides significant value by protecting financial interests in the long term.
A couple entering a prenuptial agreement (prenup) expects that it will be enforceable if they eventually decide to end their marriage. Connecticut General Statutes §46b-36g states that not having the opportunity to consult with legal counsel is grounds to invalidate a prenup. Each fiancé should work with an independent lawyer to ensure they are getting objective advice.
When drafting a prenup, the Fairfield attorney must understand the client’s fiancé’s financial position and accurately memorialize the couple’s agreement into a legally defensible document. If the other fiancé requests substantial changes before signing, costs may increase accordingly.
When an attorney’s role is simply to review a prenup for a fiancé and explain its implications, it might require only a few hours of their time. Costs can rise if the agreement requires substantial revisions.
Prenuptial agreements require both parties to disclose their assets, liabilities, and income. Sometimes the lawyer who drafts the prenup also assists the client’s fiancé in compiling the financial disclosure. Doing so may require additional hours of work, thereby increasing the cost.
When one or both fiancés have a high-net-worth or complex holdings, they may need help understanding the other’s financial position and its implications for the prenup. These discussions may lead to suggested revisions, and the inclusion of financial experts, adding hours to the lawyers’ bills.
Although legal fees can add up quickly, it is essential that both parties know their rights, understand how the prenup may limit those rights, and freely consent to the limitation. A capable Fairfield attorney will ensure a fiancé thoroughly comprehends the prenuptial agreement before signing it.
When a couple divorces without a prenup, a judge has broad discretion to divide their property in whatever way seems fair. Even inheritances and property that one spouse owned before the marriage are subject to division.
Couples without a prenuptial agreement who want to retain some control over property division must negotiate a settlement during the divorce proceedings. Often, the couple works with a mediator and a divorce lawyer to reach a settlement, but if they cannot agree, there will be a divorce trial.
The legal fees for an amicable divorce far exceed the cost of a prenup. If a divorce goes to trial, the fees are much higher still. Investing in a Fairfield attorney’s time to prepare and execute a prenup is much less expensive than going through a divorce without one.
The costs of a prenuptial agreement in Fairfield are minimal compared to the cost of a property dispute during divorce. Paying for legal help to develop a prenup before you marry is worthwhile even if you never need to enforce it.
Your actual expenditures are determined by your particular circumstances. Contact our firm today to discuss your requirements.
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