PRENUP FAQs

What is a Prenup?

Prenuptial Agreements are contracts entered into by couples prior to and in anticipation of marriage, so they are commonly referred to as Premarital Agreements or Antenuptial Agreements.  Because people generally use those terms interchangeably, we often just refer to them as Prenups.

A well-drafted prenuptial agreement sets the rules by which a married couple operates should they ever separate and/or divorce down the road. The purpose of a prenup is to set out the terms of the couple’s assets and debts, including property and future earnings and how they should be distributed if the marriage is dissolved.  A prenup must not attempt to establish terms relating to the custody or care of children the couple may have.

 

Should I consider a Prenup?

If you are considering marriage, yes.  Do it early!  It may be the least-fun part of your wedding planning, but the reality is that divorce rates are too high to ignore.  According to analysts and attorneys:

  • 41%-50% of first-time marriages end in divorce

  • 60-67% of second marriages end in divorce

  • Approx. 74% of third marriages fail

Unfortunately, many marriages don’t have a fairytale ending.  Those divorcing couples who entered into a valid prenuptial agreement before getting married have a document that provides certainty as to their rights, minimizes conflict and legal costs.  A well-drafted prenup is like a roadmap that helps both spouses find the path of least resistance and conflict amidst the emotional turmoil of the separation and divorce process. 

 

Smart, responsible adults routinely prepare for disasters as an obvious part of their everyday lives, but they generally protect against catastrophic events that have less than a 5% chance of occurring.  The chances of a “marital disaster” approach 50% or higher, so every marrying couple should at least consider getting a prenup.  More and more couples are choosing to Love Smarter, as the number of people with a fiancé or spouse who reported having a prenuptial agreement increased by 300% from 2002 and 2010[1]

 

[1] According to studies conducted by Harris Interactive.

Won’t a Prenup kill our romance and mean we don’t trust each other? 

Many people considering marriage reject the idea of getting a prenuptial agreement because it kills or decreases the romantic whirlwind and fun of the wedding planning.  No, prenups aren’t romantic contracts but discussing a premarital agreement should be an important part of every couple’s wedding planning process. 

An important benefit of entering into a premarital agreement is that it forces a couple to have a candid discussion about their expectations in the event the marriage doesn’t last forever, which helps them get to know and understand each other that much better before saying “I do”.  People enter into contracts with people they trust, right?  When a marrying couple can meaningfully discuss and agree on what happens if their marriage doesn’t work, entering into that “unromantic” prenup actually proves that the spouses do trust each other, and they can enter the marriage with more confidence.  Trust us, there’s nothing romantic about a soul-sucking, emotionally draining divorce trial.

 

Are Prenups Enforceable? 

We get asked this question all the time, because many people doubt that prenuptial agreements are enforceable based on misinformation they have read, rare court cases, and movie fiction. Yes, a prenuptial agreement should be enforceable if it is prepared and executed in accordance with the applicable law.  Most states have adopted the Uniform Premarital Agreement Act, making prenups valid and enforceable if done correctly.

 

Does a Prenup mean I won’t get Alimony?

No, a prenup can provide for some guaranteed amount of alimony, or none at all.  It is your choice.  You and your fiancé can agree on (1) some fixed or varying amount of alimony, (2) some alimony if needed, (3) alimony for a period of time or until something happens, (4) amending the prenup to provide some alimony if one spouse quits work to take care of the kids, etc., or (5) no alimony at all. 

 

How much does Prenup Pros Charge in Legal Fees?

Our Flat-Fee Prenuptial Agreement Package has been discounted to $1,295. Our leading competitor's price is $1,500. Certain promotional discounts may be offered from time to time.  In rare instances, we do have to quote a higher price to clients desiring or requiring unusual or complex terms. 

Additional hourly charges apply when the fiancé of our client engages an attorney, and we are asked to negotiate the terms of the final prenup, or to review a premarital agreement draft prepared by another person.  

 

Can my Fiancé Join our Calls?

As long as your fiancé does not have an attorney, absolutely!  We regularly speak with both parties to the marriage, and the entire discussion is strictly confidential. 

 

Prenup Pros can only represent one party to the marriage who becomes the law firm’s “client”, because it would be a conflict of interest to represent both parties.  However, whichever person decides to become our client (by entering into our Terms of Service Agreement) is free to waive the confidentiality privilege and have their fiancé join our initial discussion, or the telephone call to review the terms of your prenup. 

 

We are happy to answer questions and discuss the terms, but we cannot and will not provide any actual legal advice to your fiancé.  We find that when couples participate in our prenup discussions together, they both feel better about entering into the agreement. 

 

Does my Fiancé need an Attorney too?

Most attorneys and advisors would recommend that each side retain independent legal counsel.  We make no recommendation either way, except that you should comply with your state's laws. 

Many of our clients are trying to keep their legal costs down and frequently the couple waits until after our phone call to review the actual prenup and answer questions to decide whether the other party should retain their own counsel.  We welcome questions from both parties to the marriage because we want couples to feel confident that they understand the prenup we’ve prepared for them.  It is important that each party to a prenup have a full understanding of the document, its terms and the legal consequences of those terms. 

 

A prenup is one legal document that you want written as clearly as possible, so that a non-attorney can actually understand what it says and means.  At Prenup Pros, our goal is to prepare a contract that the couple can review, discuss and understand together, when the time is right.

Can Same-Sex Couples get a Prenuptial Agreement? 

Absolutely.  Prenup Pros encourages both same-sex and traditional marrying couples to consider entering into a prenuptial agreement before tying the knot.

 

Where can I find out more information on the Pros of Getting a Prenup?

For people living OR getting married in Virginia, Florida, New York or New Jersey, you can just contact Prenup Pros and schedule a free, no-obligation confidential consultation.  We will be happy to answer your questions and help you figure out if a premarital agreement might be a good fit for you and your fiancé.

Jeff Weaver is an AV Rated Attorney
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