How Much Does a Prenup Cost? A Lawyer Provides the Average

You've probably heard the word "prenup" passed around in conversation—or maybe even on a TV show or movie—but you might not fully understand what it's all about or you're wondering how much does a prenup cost. A prenuptial agreement, or prenup for short, is a legal document that outlines how a couple's assets will be divided in the event of divorce or death. "The prenup is meant to override the laws of the state that would ordinarily govern the marriage if a prenup were not in place—for example, laws around community property, division of marital assets, spousal support/alimony, etc.," explains Leah Weinberg, attorney, co-founder and partner of Oduberg Law, LLP.

While prenups can be extremely beneficial in terms of providing partners financial protection should their marriage dissolve, they're not very common. In fact, they're only used in about 10 percent of marriages. "If a couple wants to sign a prenup, each person needs to retain their own attorney because each person has adverse interests," says Weinberg. "If the prenup process is relatively amicable, then it might be the case where the couple finds one attorney who can represent one party and then that attorney recommends a colleague to represent the other party."

In this article:

• How Does a Prenup Work?
• Does a Prenup Cost Money?
• Average Prenup Cost
• Prenup Cost Breakdown

How Does a Prenup Work?

To get a prenuptial agreement, both partners must first openly discuss their financial expectations and the actual need and want for the prenup. Once that's established, each partner should hire their own attorney, as Weinberg mentioned, to ensure the agreement is fair and legally binding. To find an attorney in your area, visit The Knot Vendor Marketplace and search for attorneys under the officiants and premarital counseling section.

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Weinberg explains that once the marriers engage their attorneys, the agreement gets drafted based on their specifications. "If they are on the same page, then this is a relatively straightforward process, but if negotiation is ultimately involved, then the process will take a little longer," she says. "Once the prenup is finalized, the marriers sign it and they and their attorneys retain a copy for the future—that's it!"

Does a Prenup Cost Money?

The prenup cost depends on a myriad of factors, including the complexity of the agreement, the location of where you're getting the prenup, legal fees, etc. The only actual costs involved are legal fees, yet those can amount to quite a pretty penny. Simpler agreements with fewer assets and fewer complex issues will generally cost less than agreements with more complicated terms, Weinberg explains. Additionally, legal fees can vary widely depending on the geographic location of the attorneys involved.

Average Prenup Cost

Generally, you can expect to pay anywhere from $1,000 to $10,000 or more for a prenuptial agreement. "It's impossible to give an average cost of a prenup because it's going to vary city by city (not even state by state) based on where the attorneys drafting the prenup are located," Weinberg notes. "For example, the cost of an attorney in New York City to draft a prenup is likely going to be more expensive than an attorney in Buffalo, New York."

The more complicated the arrangement to be documented in a prenup the more likely you are to pay more. "For example, if one party has a more complicated financial situation with multiple bank accounts and different assets, all of that must be spelled out in the agreement," Weinberg says. "If the marriers want some things to remain separate property and some things to be joint property, all of that must be detailed." She also points out that sometimes couples want things like an infidelity clause, which requires more drafting and more negotiation to agree on the specifics.

Prenup Cost Breakdown

As mentioned, how much it costs to do a prenup can vary depending on several factors. Here are some of the key factors that influence prenup costs.

Prenup Attorney Cost

The most significant expense is the legal fees involved. "Each partner typically hires their own attorney to avoid conflicts of interest," Weinberg says. Attorneys may charge hourly rates between $250 to $1,000, depending on their experience and location.

Complexity of the Agreement

A simple prenuptial agreement typically costs less because it involves fewer assets and less complicated financial arrangements. However, as the complexity of the couple's financial situation increases, the costs increase as well. Agreements that deal with multiple properties, business ownership, stocks or valuable assets require more in-depth legal expertise and negotiations, which can significantly raise the overall cost. Additionally, complex prenups may involve additional clauses like spousal support or estate planning provisions, all of which contribute to the time and effort required to draft and finalize the agreement.

Negotiation Time

The more time required to negotiate the terms of a prenuptial agreement, the higher the overall cost. Lengthy discussions arise when there are significant disagreements over asset division, spousal support or other financial issues. Each round of negotiation involves further consultations with attorneys, which increases billable hours. If one or both parties have complex financial situations, such as owning businesses, investments or multiple properties, this can add to the time and effort involved in reaching an agreement. Additionally, revisions or multiple drafts of the prenup contribute to higher costs.

Additional Fees Involved

Court filing fees or notary services may also be necessary when finalizing a prenuptial agreement, and these can add additional costs to the process. Filing fees are generally required to officially register the agreement with the appropriate legal authority, ensuring it is recognized by the court. Notary services may also be needed to witness the signing of the prenup, confirming the agreement was made voluntarily and signed by both parties. While these fees are typically smaller compared to attorney fees, they're still essential for the legal validity of the prenup. Overall, prenup costs can range from $1,500 to $10,000 or more, depending on these factors.