How much does a Florida prenuptial agreement cost ? This is a common question that couples planning to get married in Florida often ask. So let’s explore this question and review some general information about prenuptial agreements and their benefits.
How Much Does a Prenuptial Agreement Cost in Florida?
A prenuptial agreement sometimes called a “prenup,” is a legally binding contract that couples execute before getting married. A prenup documents each person's assets before the marriage and dictates how financial issues will be handled if the couple decides to divorce.
Florida is an equitable distribution state. If a couple does not have a prenup, then all assets are subject to fair distribution in a divorce. A judge will divide all marital property in half unless an extenuating circumstance exists. Marital property can include:
- Bank accounts
- Investment portfolios
Any debts acquired during the marriage are also subject to equal distribution between the two parties.
Many couples choose to hire a family attorney to draft their prenuptial agreement. Prenups must include specific information and abide by Florida laws to hold up in court. A lawyer will know how to draft a legally enforceable contract.
Based on ContractsCounsel's marketplace data, the average cost of a prenuptial agreement in Florida is $816.67.
What's Typically Included in a Florida Prenuptial Agreement
Every prenuptial agreement will be different and personalized to the couple’s assets, debts, and wishes. However, there are limitations on what can be included in a prenup.
Florida has adopted the Uniform Premarital Agreement Act, which lists the issues that may be covered in a prenup. Some of these issues include:
- Premarital assets. A list of each person's assets before entering the marriage and how the assets will be treated after the marriage. For example, if one person owns a house, after the marriage, will the home be owned jointly? This can be established in the prenup.
- Premarital debts. A list of each person’s debts before the marriage and who will be responsible for the debts after the wedding.
- Marital assets. Florida considers any property gained during the marriage equally owned by both spouses. A prenup can override this rule.
- Marital debts. In Florida, any debts acquired during the marriage will be viewed as both spouses’ responsibility. Prenups can split up marital debt. For example, suppose one spouse plans to start a business after the wedding. In that case, the prenup can dictate that any business loans are their responsibility alone.
- Right to alimony. The couple can agree whether one spouse will pay alimony to the other if they divorce.
- Distribution of property. One of the most important terms in a prenuptial agreement is how the couple’s assets will be divided if they divorce. This avoids a complicated, emotionally charged legal process after the relationship breakdown.
Many people attempt to include terms regarding child support and child custody in a prenup. However, this is not always enforceable. For example, in Florida, a judge will only enforce child support and custody provisions in a prenup if they are more beneficial to the child than Florida law provides.
Benefits of a Prenuptial Agreement
Prenuptial agreements can sometimes have a negative connotation, but they provide many benefits to couples, including:
- Protection of assets
- Protection from debts
- Customized plan to distribute assets in a divorce
- Avoidance of a typical divorce settlement
- Comprehensive planning for the future
- Peace of mind knowing that financial matters are settled
Divorces can be drawn-out, emotionally charged, and expensive, and most fighting in a divorce is over assets and debts. However, with a prenup in place, the decisions about property division are already made. This saves a couple from the additional stress and financial burden of litigation.
Florida Prenuptial Agreement Projects
Prenuptial Agreement Drafting in Florida
It is always recommended that a couple hires a knowledgeable attorney to draft a prenuptial agreement. A lawyer will be familiar with Florida law and know what can and cannot be included and enforced in a Florida prenuptial agreement.
Prenuptial agreement drafting will usually involve a consultation with the couple to learn about their assets, debts, and the terms and conditions they want to include in the agreement. The attorney will then draft a prenup that implements these terms.
Prenuptial Agreement Review in Florida
Sometimes, a couple may have an existing prenup or have drafted their own prenup from a template. However, it is important to know that in Florida, prenuptial agreements are non-modifiable, so this document must be drafted properly.
Before executing a prenup, a couple is encouraged to have the document reviewed by a licensed attorney. The attorney will ensure that the contract is fair, follows all applicable Florida laws, and will be enforceable in court in the event of a divorce.
Florida Prenuptial Agreement Drafting Cost
Suppose a couple hires an attorney to draft their prenuptial agreement. In that case, they will incur legal fees because drafting a contract of any kind requires a licensed lawyer's time and legal expertise to complete the project.
According to ContractsCounsel's marketplace data, the average prenuptial agreement drafting costs in Florida are $1,000.00.
Reviewing Prenuptial Agreement Cost
Hiring an attorney to review a prenuptial agreement also comes with legal fees. However, even though the attorney isn’t drafting the document from scratch, they will still take their time reviewing the contract and suggesting revisions based on their specialized legal knowledge.
ContractsCounsel's marketplace data shows the average prenuptial agreement review costs in Florida are $450.00.
How Do Florida Lawyers Charge for a Prenuptial Agreement?
Hourly Rates for Prenuptial Agreements
A Florida family law attorney will mostly likely charge their clients using an hourly rate fee structure. With this fee agreement, a lawyer will bill a client at a set hourly rate for time spent working on the case or project.
The marketplace data for ContractsCounsel shows that the average hourly rate for a family lawyer in Florida ranges from $200 - $350 per hour.
Flat Fee Rates for Prenuptial Agreements
Suppose a lawyer is hired for a specific project with a definitive end, like drafting a prenuptial agreement. In that case, they may choose to charge the client a flat fee rate instead of billing hourly. In a flat fee payment structure, attorneys will provide a flat fee price to the client for the proposed legal services.
Clients usually prefer flat fee rates because they know exactly how much they will spend on legal services. However, the client must understand what is included in the flat fee rate because additional legal services like consultations or revisions may not be included in the flat fee.
ContractsCounsel's marketplace data shows the average flat fee rate for a prenuptial agreement in Florida is $816.67.
Get Help with a Florida Prenuptial Agreement
Do you need help with a prenuptial agreement project? If so, post a project in ContractsCounsel's marketplace to receive flat fee bids from family lawyers who are licensed to practice law in Florida 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.