How much does a Delaware prenuptial agreement cost? This is a common question that couples ask when they are planning to get married. Let’s explore this question and review some general information about prenuptial agreements and why they are important.
How Much Does a Prenup Cost in Delaware?
A prenuptial agreement, often called a “ prenup ”, is a legally binding marital agreement that a couple enters into before getting married. This contract outlines how the spouses will manage their assets, debts, properties, and other finances in the event of a divorce, separation or death.
The cost of prenuptial agreements varies based on several factors like the length and complexity of the contract, geographic location, and the lawyer’s level of experience. Based on ContractsCounsel's marketplace data, the average cost of a prenuptial agreement in Delaware is $875.00.
What's Typically Included in a Delaware Prenuptial Agreement?
Every prenuptial agreement will be unique based on the goals of the couple and their financial situation. The provisions in a prenup are highly customizable which allow a couple to custom tailor an agreement that best suits their needs.
At a minimum, the most basic prenup should include the following provisions:
- Premarital assets. A list of each partner’s assets acquired before the marriage.
- Premarital debts. A list of all debts or liabilities acquired before the marriage.
- Property division. How property, assets, and debts acquired before and during the marriage will be divided in the event of divorce or separation.
- Alimony. Whether one spouse will pay alimony to the other and, if so, the amount, duration, and under what conditions.
- Financial responsibilities. How financial responsibilities during the marriage, like payment of bills, taxes, and debts, will be managed.
- Business rights. If one spouse owns a business or has a stake in a family business, this section will dictate how rights to the business will be handled.
- Inheritance. How inheritance and estate rights will be affected by the agreement.
It is common for couples to want to include child support and child custody in their prenup. However, in Delaware, any provisions related to these matters will not be enforced. A the time of the divorce, courts will determine what custody and support arrangement is in the best interest of the child.
What Voids a Prenup?
If a prenup is challenged in court, it could be ruled void if it is not drafted correctly or does not meet all Delaware laws and regulations governing prenups.
Some common issues that may void a prenup include:
- Duress or coercion. A prenuptial agreement is only valid if both partners enter into the contract voluntarily. If one party was pressured into signing the agreement against their will or was not given enough time to review the terms and seek counsel, a court may void the agreement.
- Failure to disclose. Both parties must provide a complete and honest financial disclosure affidavit to draft a prenuptial agreement. If one party conceals assets, debts, or income or fails to provide accurate financial information, the agreement may be void.
- Unconscionability. A prenup cannot be unfair or one-sided. If a court decides that the terms are unconscionable or greatly favor one party over the other, it may choose to void the agreement or modify the terms.
- Legal compliance. Prenuptial agreements must comply with all Delaware laws. Provisions that are illegal or against public policy cannot be enforced.
If you have concerns about the validity of a prenuptial agreement or if you are considering creating one, it is always recommended to consult with an experienced Delaware family law attorney. A lawyer can provide guidance on how to create a legally sound prenuptial agreement that will hold up in court.
Delaware Prenuptial Agreement Projects
Prenuptial Agreement Drafting in Delaware
Many couples choose to hire an attorney to draft a prenuptial agreement. An attorney will ensure that the document fits the couple’s needs and includes legally enforceable provisions that protect the financial interests of both parties.
Prenuptial agreement drafting will usually involve a consultation first. Then, based on the couple's needs, the attorney will draft a comprehensive marital contract. The couple should always carefully review the contract to ensure that no revisions are needed.
Prenuptial Agreement Review in Delaware
Some couples will choose to draft their own prenuptial agreement using a template. This is possible, but they should have the contract reviewed by an attorney before executing the agreement.
A lawyer will ensure that the template used to create the agreement follows all Delaware laws and the agreement is valid and legally enforceable. Lawyers are trained to look for issues that may render a contract void like unconscionability or illegal terms.
Delaware Prenuptial Agreement Drafting Cost
When a couple hires a lawyer to draft their prenuptial agreement, they will incur legal fees because drafting a contract requires the time and legal expertise of a licensed lawyer.
Drafting fees will vary based on several factors including:
- The length of the contract
- The complexity of the terms
- The geographic area (legal fees will vary depending on cost of living in the area)
- The lawyer’s experience and expertise
According to ContractsCounsel's marketplace data, the average Delaware prenuptial agreement drafting costs are $950.00.
Delaware Prenuptial Agreement Review Cost
Hiring an attorney to review a prenuptial agreement will also come with legal fees. The lawyer will use their legal knowledge of Delaware law to review the contract and ensure it is legally binding.
Wen reviewing a prenuptial agreement, a lawyer will look for the following issues:
- Unfair or unconscionable provisions
- Full financial disclosure by both parties
- Terms that cannot be enforced due to being illegal or against public policy
- Correct execution and signatures in accordance with Delaware law
ContractsCounsel's marketplace data shows the average prenuptial agreement review costs in Delaware are $700.00.
How Do Delaware Lawyers Charge for a Prenuptial Agreement?
Hourly Rates for Prenuptial Agreements
It is common for lawyers in Delaware to charge their clients using an hourly rate fee structure. Under this payment arrangement, the lawyer will track their time spent working on a project then bill the client at a predetermined hourly rate.
Hourly rates are beneficial for attorneys because it ensures that the attorney is paid for all time spent working on a client’s case.
The marketplace data for ContractsCounsel shows the average hourly rate for a family lawyer in Delaware ranges from $200 - $350 per hour.
Flat Fee Rates for Prenuptial Agreements
When a lawyer is hired to complete a specific project, like draft or review a prenup, they may choose to charge their clients using a flat fee rate. To determine a flat rate fee, the lawyer will consider factors like the time and effort required for the project, legal expertise necessary, administrative tasks, and any additional costs the lawyer may incur during the case.
ContractsCounsel's marketplace data shows the average flat fee rate for a prenuptial agreement in Delaware is $875.00.
Get Help with a Delaware Prenuptial Agreement
Do you need help with a prenuptial agreement project in Delaware? If so, post a project in ContractsCounsel's marketplace to receive flat fee bids from family lawyers who are licensed to practice law in Delaware and can handle your project. All lawyers on the ContractsCounsel's platform are vetted by our team to make sure you are provided with top-tier service.