Ohio Prenuptial Agreement Cost

How Much Does a Prenuptial Agreement Cost in Ohio?

Based on ContractsCounsel's marketplace data, the average cost of a prenuptial agreement in Ohio is $750.00 [1].

What is an Ohio Prenuptial Agreement?

Prenuptial agreements, often called antenuptial agreements in Ohio, are legally binding contracts entered into by couples who are planning to get married. These contracts allow couples to create an agreement regarding important financial decisions like how assets will be divided in case of a divorce.

Many couples choose to hire an attorney to represent them during the prenuptial agreement process. An attorney will be able to properly draft a fair prenup, review the agreement to ensure it meets all legal requirements, and explain the contract to each party to ensure everyone has a clear understanding of the prenup terms.

Why Do I Need a Prenuptial Agreement in Ohio?

When a married couple decides to divorce, one part of the process is dividing all of their assets which can include a combination of marital assets (assets obtained during the marriage) and premarital assets (the assets each individual brought with them to the marriage).

If a couple does not have a prenuptial agreement and cannot come to an agreement at the time of the divorce, the divorce court will have the power to distribute the assets and debts. In Ohio, divorce courts follow the rules of “equitable distribution”. This means that property will NOT be divided 50/50 but rather by each party’s situation and needs as determined by the court.

Rather than allowing the court to make these important decisions, many couples choose to execute a prenuptial agreement. A prenup puts decision making power back in the hands of the couple and allows them to customize a financial plan that suits their needs.

What's Typically Included in an Ohio Prenuptial Agreement

The issues addressed in a prenuptial agreement will be mostly dictated by the couple, as long as it follows the laws governing prenuptial agreements. Ohio has adopted the rules of the Uniform Prenuptial Agreement Act (UPAA) so their laws governing prenups must follow the UPAA.

The UPAA allows the following terms to be addressed in a prenup:

• Pre-marital property. Each spouse will be required to fill out a financial disclosure that lists their property, debts, investments, and earnings. The only way to avoid disclosures is for one party to agree to waive the right to a disclosure.
• Division 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.
• State law. Which state’s law govern the agreement

Ohio does not allow prenuptial agreements to cover any issues related to child custody or support. Prenups cannot include custody schedules, an agreement that one parent relinquish custody in a divorce, or an agreement that one parent will not have to pay child support after a divorce.

Are Prenuptial Agreements Enforceable in Ohio?

For an antenuptial agreement to be legally enforceable in Ohio, it must meet all requirements laid out by the UPAA. Some legal requirements include:

• The agreement is in written form (oral contracts will not be enforced)
• The terms do not encourage divorce
• Both parties fully disclose their financial situations or agree to waive disclosure
• The agreement isn’t signed under duress, fraud, or coercion
• The agreement is entered into before the wedding

In addition, to be enforceable, the court must determine that the agreement is fair and not unconscionable. The prenup cannot include any clauses that promote criminal activity or violate public policy.

Ohio Prenuptial Agreement Projects

Prenuptial Agreement Drafting in Ohio

It is highly recommended that a couple hires a knowledgeable attorney to draft a prenuptial agreement. A lawyer familiar with Ohio law will know what can and cannot be included and enforced in an Illinois prenuptial agreement.

Prenuptial agreement drafting usually involves a consultation with the couple and once the attorney has all the information he needs, he can begin drafting the prenuptial agreement.

Prenuptial Agreement Review in Ohio

In some cases, a couple may have an existing prenup or they have drafted their own prenup from a template. While this works sometimes, it is important to understand that each state has different laws governing prenups and the template may not cover those state specific laws.

Before executing a prenup, couples are encouraged to have the document reviewed by a licensed attorney. The attorney will ensure that the contract is fair, follows all applicable Ohio laws, and will be enforceable in court in the event of a divorce.

How Much Does it Cost to Draft an Ohio Prenup?

Hiring an attorney to draft a prenuptial agreement will result in 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 Ohio are $750.00.

How Much Does it Cost to Review an Existing Ohio Prenup?

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 making adjustments as necessary.

ContractsCounsel's marketplace data shows the average prenuptial agreement review costs in Ohio are $750.00.

How Do Ohio Lawyers Charge for a Prenuptial Agreement?

Hourly Rates for Prenuptial Agreements

It is common for family law attorneys use an hourly rate fee agreement to charge their clients. This means the 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 prenuptial agreement lawyer in Ohio 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, instead of tracking their hours, they may estimate the total time the project will take and quote one flat fee rate.

Flat fee rates often include a consultation, drafting or review, and edits, but the client should double check exactly what services the flat rate includes to avoid unforeseen charges.

ContractsCounsel's marketplace data shows the average flat fee rate for a prenuptial agreement in Ohio is $750.00.

Get Help with an Ohio 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 Ohio 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.

References

1. ^ Based on real pricing data from ContractsCounsel's marketplace. Last updated 1/18/2024.