Prenuptial agreements have several costs associated with them. There are free sample prenuptial agreements available online and through some organizations. However, some couples choose to pay an attorney to prepare their agreement.
In this case there is the cost associated with having one prepared as opposed to a DIY agreement. In addition, there is the cost of having it executed should it become necessary. Yet, the greatest cost associated with prenuptial agreements, can be the costs associated with a poorly written agreement.
In some cases the document will be invalidated by the courts, in which case one party is likely to suffer more financial consequences than originally thought. Also, the agreement may have been written in such a way that the courts feel the clauses are unconscionable or vague. In either case, an individual is likely to suffer financial consequences.
In essence, the best time to spend money on issues related to prenuptial agreements is during preparation. If couples choose to utilize a free prenuptial agreement, they must be sure that it complies with state laws and is likely to be upheld by the courts.
There are many free prenuptial agreements available online. In many cases, free prenuptial agreements can be sufficient for couples. Some couples only require a document that divides assets equally or in another simple manner.
However, there is great financial risk if agreements are not detailed. If nothing else, free prenuptial agreements are a great starting point for discussion. Couples can save a lot of money by utilizing a free prenuptial agreement, as long as they are aware of and plan for the possible financial consequences.
Some couples decide that a free prenuptial agreement is not the best option for them. In many cases, couples will have attorneys prepare their prenuptial agreement. While free prenuptial agreements can save money, couples may find that paying an attorney for preparation is a worthwhile financial cost. Attorneys can be expensive and couples should do some price comparisons on attorneys and the services they offer.
Certainly a simple review of a free prenuptial agreement will be cheaper than having them write an individualized agreement. In addition, couples may pay attorneys a flat rate, or be charged an hourly rate. Depending on the degree of difficulty involved in writing their prenuptial agreement, the flat rate is generally the better option for most couples.
Couples must perform a cost/benefit analysis when considering a free prenuptial agreement. If nothing else, they should certainly consider paying for attorney review of their fee prenuptial agreement. In many cases, there are financial consequences associated with free prenuptial agreements, if and when they are executed.
If possible, couples should only use a free prenuptial agreement as a starting point for discussion and consideration. Paying for the expertise of an attorney, is generally a worthwhile expense for couples writing their prenuptial agreement. While couples may pay a small fee for a notary public, attorneys fees are generally much higher. However, in most cases, both fees are a necessary expense.