Q: Hi, I recently got engaged and we are talking about creating a prenup, but don't know where to start.
We have both been married before, no children, and have no financial obligations resulting from the marriges. I have a few properties, a business, an inheritance coming in the near future as well as the distant future. She has recently received an inheritance and is expecting more in the immediate as well as future. Where do we get started? What is the average cost to have a prenup drawn up?
A: It's great that you two have come to this mature decision about a prenuptial agreement. Divorces can be extremely expensive and cost many times the price ($3500 and up) of a prenup. Your partner will need their own attorney to review the finalized prenup before signing it. A prenuptial agreement's details are worked out by you and your partner, so you can fashion it however you like, within reason of course. It's not what most people think it is - some ugly beast. It can be a great, friendly, and reasonable safety net to avoid future pitfalls and rancor. The best first step is an Initial Consultation with an Attorney. You can read more about me on my law practice website. This answer does not constitute legal advice nor does it create any Attorney-Client relationship.
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A: Congratulation! You are both thinking in the right direction. Prenuptial agreements is not just an agreement, it is a communication tool, by which not only you protect your assets but also eliminate expensive and costly divorces. The average cost can range anywhere from $2500.00 and up. I prefer that both parties be represented by an independent attorney. It is also advisable that you both discuss with each other what assets you wish to protect and include in the agreement prior to consulting an attorney this way you can discuss your questions with your respective attorneys. In order to have a prenuptial agreement prepared, one of you will have to hire an attorney to prepare the agreement and then present it to the other spouse who will review the terms of the agreement with his/her attorney before signing. There are strict rules as to the timing of signing a prenuptial agreement in California and it is important that you consult with an attorney. This answer does not continue legal advice nor does it create any Attorney-Client relationship. Best regards.
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