North Carolina Prenuptial Agreement Cost

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How much does a North Carolina prenuptial agreement cost? This a common question that couples planning to get married in North Carolina often ask. Let’s explore this question and review some general information about prenuptial agreements and how they can protect your assets.

How Much Does a Prenuptial Agreement Cost in Illinois?

Prenuptial agreements, officially called premarital agreements in North Carolina or simple “prenups”, are legally binding contracts entered into by prospective spouses. These agreements are executed before the marriage and create a plan for how assets and debts will be divided if the couple decides to divorce.

It is strongly encouraged that a couple hires an experienced attorney to draft their prenuptial agreement. Prenups are legally binding documents that must include specific information and abide by all laws that govern premarital agreements. A lawyer will know how to draft a prenup that is legally enforceable.

Hiring a lawyer to draft a prenup will incur legal fees and many couples want to know how much a prenup will cost. Based on ContractsCounsel's marketplace data, the average cost of a prenuptial agreement in North Carolina is $866.67.

Why Do I Need a Prenuptial Agreement in North Carolina?

North Carolina is one of many states that follows the principle of “equitable distribution” in divorce court. This means that if there isn’t a prenup, and the couple cannot come to an agreement at the time of the divorce, the court will divide all marital property in a way that the court deems fair and equitable.

Unlike the 50/50 rule of community property, “equitable” does not mean equal. Courts will consider several factors like length of marriage, contribution of each spouse, education level, and employability when determining how to equitably split property.

If a party has significant assets, owns a business, or has children from a previous relationship, a premarital agreement is a great planning tool. A prenup will ensure that all assets are protected and that children are provided for in the event of a divorce or death of a spouse.

What's Typically Included in a North Carolina Prenuptial Agreement

North Carolina follows the rules of the Uniform Prenuptial Agreement Act (UPAA). The UPAA provides provisions that governs the contents of a premarital agreement.

Common issues that are covered in a prenup include:

  • Financial disclosures. A prenup must include financial disclosures from both spouses that detail each person’s assets, debts, and income information. Failing to paint an accurate picture of your financial situation could result in the prenup being ruled unenforceable.
  • Distribution of marital assets. Marital assets are assets that a couple will acquire throughout their marriage like houses, property, vehicles, or furniture. The prenup should include a plan of how these types of items will be divided in a divorce.
  • Property rights. How marital property can be used during the marriage, for example- who has the right to sell, lease, or invest using marital assets.
  • Life insurance. Whether either spouse will have life insurance and what happens to the policy in the event of a death or divorce
  • Spousal support. If either spouse will be required to pay the other spouse alimony and how much the amount will be.
  • Pets. Even though some people treat their pets like kids, most states, North Carolina included, view pets as property. Unless otherwise stated in a prenup, a pet will usually go to the person who paid for it.
  • State law. Which state’s law govern the agreement

Under the UPAA, prenuptial agreements cannot include terms regarding child custody or support. These issues need to be determined at the time of the divorce.

Is a Prenuptial Agreement Enforceable in North Carolina?

Under the UPAA, there are two main reasons that a prenuptial agreement will be deemed unenforceable in North Carolina.

  1. The contract was not signed voluntarily. If either party is forced to sign the prenup under duress, coercion, manipulation, or fraud, it will be unenforceable.
  2. The agreement is unconscionable. The unconscionability of the agreement will be decided by the court. Under the UPAA, to prove that a prenup is unconscionable, the party must show that the other spouse did not disclose all financial information, the claiming spouse did not waive a right to the full disclosure, and the claiming spouse did not have adequate knowledge about the other party’s financial situation.

North Carolina Prenuptial Agreement Projects

Prenuptial Agreement Drafting in North Carolina

It is always recommended that a couple hires a knowledgeable attorney to draft a prenuptial agreement. A lawyer familiar with North Carolina law will know how to draft an agreement that will be legally enforceable in the event of a divorce.

Prenuptial Agreement Review in North Carolina

Many lawyers recommend that each party should hire their own lawyer when executing a prenup. Even if the couple agrees on the terms, having two separate lawyers can avoid problems down the road.

When each party has their own lawyer, they can be advised with their best interests in mind. In this scenario, one lawyer will draft the prenup and the other lawyer will review it. This allows each lawyer to ensure that their client is informed about the terms and conditions of the contract, and they understand what they are signing.

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North Carolina Prenuptial Agreement Drafting Cost

If a couple hires an attorney to draft their prenuptial agreement, they will incur legal fees. Drafting contracts requires the time and legal skill of a licensed lawyer.

According to ContractsCounsel's marketplace data, the average prenuptial agreement drafting costs in North Carolina are $866.67.

North Carolina Prenuptial Agreement Review Cost

Hiring an attorney to review a prenuptial agreement will also come with legal fees. The lawyer will take their time going of the contract and ensuring their client understands all of the terms and conditions included in the agreement.

ContractsCounsel's marketplace data shows the average prenuptial agreement review costs in North Carolina are $866.67.

How Do North Carolina Lawyers Charge for a Prenuptial Agreement?

Hourly Rates for Prenuptial Agreements

Most attorneys use an hourly rate fee agreement to charge their clients. Hourly rate means that the lawyer will bill a client a set hourly rate for each hour spent working on the case or project.

The marketplace data for ContractsCounsel shows the average hourly rate for a prenuptial agreement lawyer in North Carolina ranges from $200 - $350 per hour.

Flat Fee Rates for Prenuptial Agreements

When a lawyer is hired for a specific project like drafting a prenup, they may opt to charge a client a flat fee rate instead of keeping track of hours. In a flat fee payment structure, attorneys will provide the client a flat fee price for the entirety of the legal project.

ContractsCounsel's marketplace data shows the average flat fee rate for a prenuptial agreement in North Carolina is $866.67.

Get Help with a North Carolina 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 North Carolina 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.

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