How much does a Georgia postnuptial agreement cost? This a common question that married couples living in Georgia often ask. Let’s explore this question and review some general information about postnuptial agreements and why they are beneficial.
How Much Does a Postnuptial Agreement Cost in Georgia?
Postnuptial agreements, sometimes called post marital agreements or simply marital agreements, are legally binding contracts that spouses execute after they are married. A postnuptial agreement allows spouses to plan out how their property and debts will be distributed in the event they get divorced, or one spouse dies.
Many couples choose to hire an attorney to draft their postnuptial agreement. This contract needs to include specific information and abide by certain laws to be enforceable in a Georgia divorce court. A lawyer will know how to draft an agreement that is legally binding and enforceable.
The cost of a postnuptial agreement will vary based on several factors like the length of the document and how much time the lawyer spends on the project. According to ContractsCounsel's marketplace data, the average cost of a postnuptial agreement in Georgia is $761.81.
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Why Do I Need a Postnuptial Agreement in Georgia?
In Georgia, divorce courts follow the rules of equitable distribution. This means that without a valid marital agreement in place, a judge will determine how all assets from the marriage are divided based on the financial contributions of each spouse. If a couple has a properly executed marital agreement, their agreement will supersede state laws and allow for a customized plan for the distribution of assets and liabilities.
Any debts acquired during the marriage are also subject to equal distribution between the two parties regardless of which spouse incurred the debt.
What's Typically Included in a Georgia Postnuptial Agreement?
Postnuptial agreements must include a disclosure of each spouse’s assets and debts. If it is found that one spouse attempted to conceal property or debts from the other, the entire agreement could be ruled void and unenforceable.
The following terms and items are often addressed in basic postnuptial agreements:
- List of assets. A list of the couple's assets including property they had before the marriage and property obtained after the marriage.
- List of debts. A list of each person’s debts prior to the marriage and incurred after the marriage.
- Distribution of property. Terms regarding how the couple’s assets and debts will be divided if they divorce, or one spouse dies.
- Right to alimony. Whether spousal support will be paid by one spouse to the other including how much will be paid and for how long.
- Inheritance and gifts. The agreement may address issues related to inheritance rights and how they will be handled in case of a divorce or death. This is especially important if either spouse has children from a previous relationship.
- Business interests. If one or both spouses own a business, the agreement can specify how the business will be divided in the event of a divorce or death.
- Legal Fees. Provisions dictating which spouse will be responsible for paying any legal fees associated with a divorce or legal separation.
Georgia does not allow postnuptial agreements to address child support or child custody. Child support is determined based on each parent’s income at the time of the divorce. A postnuptial agreement cannot be used to avoid paying child support or to deprive one spouse of parenting time in the event of a divorce.
Is a Postnuptial Agreement in Georgia Enforceable?
Yes. In most cases, a postnuptial agreement will be enforceable in Georgia as long as it meets certain requirements. These requirements include:
- The contract must be in writing
- It must be signed by both parties
- The signatures must be notarized
- There must be a full disclosure of assets and liabilities
The spouses must sign the agreement voluntarily, free from any fraud or duress. It is recommended that each spouse seek advice and representation from separate lawyers, however it is possible to complete a postnuptial agreement with only one attorney.
If a marital agreement does not meet these requirements, it can be contested at the time of the divorce and may be ruled as void or unenforceable.
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Postnuptial Agreement Drafting in Georgia
It is always recommended that a couple hires a knowledgeable attorney to draft a postnuptial agreement. A lawyer will be familiar with Georgia law and know what can and cannot be included and enforced in a Georgia marital agreement.
Postnuptial agreement drafting will usually involve a consultation with the couple to learn about their assets, debts, and the terms they want to include in the agreement. The attorney will then draft a contract that implements these terms.
Postnuptial Agreement Review in Georgia
In some cases, a couple may have an existing contract, or they have drafted their own agreement from a template. It is important to know that these templates may not be designed to follow specific Georgia laws. For example, many states do not require marital agreements to be notarized, but Georgia law does.
Before executing a postnuptial agreement, 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 Georgia laws, and will be enforceable in court in the event of a divorce.
Georgia Postnuptial Agreement Drafting Cost
If a couple hires an attorney to draft their postnuptial agreement, they will incur legal fees because drafting a contract of any kind requires the time and legal expertise of a licensed lawyer to complete the project.
According to ContractsCounsel's marketplace data, the average postnuptial agreement drafting costs in Georgia are $1,075.00.
Reviewing Postnuptial Agreement Cost
Hiring an attorney to review a postnuptial agreement will also come with legal fees. Even though the attorney isn’t drafting the entire document, they will still take their time reading over the contract and revising any mistakes or omissions.
ContractsCounsel's marketplace data shows the average postnuptial agreement review costs in Georgia are $414.14.
How Do Georgia Lawyers Charge for a Postnuptial Agreement?
Hourly Rates for Postnuptial Agreements
Family law attorneys in Georgia 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 the average hourly rate for a family lawyer in Georgia ranges from $200 - $300 per hour.
Flat Fee Rates for Postnuptial Agreements
Flat fee rates are becoming a popular way for lawyers to charge clients for drafting projects like creating marital agreements. In a flat fee payment structure, rather than charging hourly, an attorney will provide a single flat fee price to the client for the entire legal project.
ContractsCounsel's marketplace data shows the average flat fee rate for a postnuptial agreement in Georgia is $761.81.
Get Help with a Georgia Postnuptial Agreement
Do you need help with a postnuptial 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 Georgia 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.
