How much does a postnuptial agreement cost in Wisconsin? This is a common question that couples ask after they have entered into a marriage. Let’s explore this question and review some general information about postnuptial agreements and why they are important.
How Much Does a Postnuptial Agreement Cost in Wisconsin?
A postnuptial agreement is a legally binding agreement entered into after a couple gets married. The purpose of these agreements is to lay out how a couple will divide marital property including assets and debts, in the event of a divorce.
The cost of a postnuptial agreement will vary depending on several factors like the length of the document, the number of custom terms, and how many hours a lawyer spends on the project.
According to ContractsCounsel's marketplace data, the average cost of a postnuptial agreement in Wisconsin is $761.81.
See Postnuptial Agreement Pricing by State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- District of Columbia
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
Why Do I Need a Postnuptial Agreement in Wisconsin?
Wisconsin is one of nine states in the United States that follow the principle of “community property” laws. Under these laws, when a couple marries, any assets or debts obtained after the marriage belong equally to both spouses.
Separate property, which is property obtained prior to the marriage, will usually remain separate under these laws and be awarded to the original owner. However, separate property could be converted to marital property if marital funds are used to improve the property. For example, if one spouse owns a home prior to marriage but then uses their wages to pay the mortgage, the house may be converted to marital property because wages used to pay for the mortgage are marital property.
A valid postnuptial agreement will override community property laws and allow a couple to choose what type of property distribution plan would be right for them.
Is a Postnuptial Agreement Enforceable in Wisconsin?
Yes. In Wisconsin, postnuptial agreements are typically enforced as long as the contract meets certain requirements outlined by state law.
Some of these requirements include:
- The agreement must be in writing and signed by both parties
- The agreement must be entered into voluntarily without any coercion or duress
- The agreement cannot be “unconscionable” or otherwise unfair
- Each party should be granted ample time to consult with an attorney regarding the provisions of the contract
- The agreement cannot violate public policy or encourage criminal activity
In addition to these requirements, both spouses must provide a full financial disclosure statement detailing their assets and debts. Without a disclosure or a waiver for disclosure, the postnuptial agreement could be ruled unconscionable and unenforceable.
What's Typically Included in a Wisconsin Postnuptial Agreement
Postnuptial agreements will vary based on the couple’s needs and their financial situation. Typically, these post marital agreements cover the following provisions:
- A full disclosure of each spouses' assets and debts
- How separate and marital property will be distributed in a divorce
- How debts and liabilities will be allocated in a divorce
- Whether alimony will be paid including how much and for how long
- What inheritance and gifts each spouse is entitled to
- If either spouse owns a business, how the business will be handled in a divorce
- How legal fees will be paid in a divorce
- Any additional provisions about how money is handled during the marriage
Many couples ask if a marital agreement can include terms about child support and child custody. In Wisconsin, couples can include provisions about support and custody, but the agreement cannot limit or waive the amount of child support that either parent must pay.
Courts will always reserve the right to modify provisions in marital agreements regarding children. This is because child support and visitation with each parent is the right of the child and parents cannot take away those rights in a marital agreement.
Benefits of a Postnuptial Agreement
Postnuptial agreements provide couples with many benefits including:
- Protection of assets
- Protection from debts and liabilities
- Customized plan to distribute assets in a divorce
- Avoidance of a typical divorce settlement
- Savings on legal fees in a divorce
- Comprehensive planning for the future
- Peace of mind knowing that financial matters are settled
Financial matters are some of the most highly contested issues in divorces. By having a valid marital agreement in place, this issue is eliminated from the divorce process.
7 projects on CC
CC verified
Wisconsin Postnuptial Agreement Projects
Postnuptial Agreement Drafting in Wisconsin
Postnuptial agreements can be complex legal documents that will have lasting financial effects on a couple’s lives. It is important that these contracts are drafted properly by a knowledgeable lawyer who is familiar with Wisconsin laws.
Before drafting a marital contract, a lawyer will have a consultation with the couple. The lawyer will need to document all of the couple’s assets and debts to be included in the contract. Once the lawyer has collected all pertinent information, he can draft a customized postnuptial agreement.
Postnuptial Agreement Review in Wisconsin
Many couples attempt to draft their own marital agreement without the help of a lawyer. While this is possible to do, if you choose this route, it is highly recommended to have a licensed attorney review the agreement before signing it.
An attorney will look over the postnuptial agreement to ensure that it is fair and abides by all Wisconsin laws. The lawyer can correct mistakes and identify legal loopholes that could have negative legal repercussions.
Wisconsin Postnuptial Agreement Drafting Cost
When a couple hires a lawyer to draft their postnuptial agreement, they will incur legal fees because drafting a contract requires the time and legal expertise of a licensed lawyer.
According to ContractsCounsel's marketplace data, the average Wisconsin postnuptial agreement drafting costs are $1,075.00.
Wisconsin Postnuptial Agreement Cost
Hiring an attorney to review a postnuptial agreement will also come with legal fees. The lawyer will use their legal expertise and knowledge of Wisconsin law to review the contract and ensure it is legally binding.
ContractsCounsel's marketplace data shows the average postnuptial agreement review costs in Wisconsin are $414.14.
How Do Wisconsin Lawyers Charge for a Postnuptial Agreement?
Hourly Rates for Postnuptial Agreements
It is common for Wisconsin family law attorneys to use an hourly rate fee structure to bill their clients. Under this fee structure, a lawyer will inform the client of their hourly rate then bill the client for the amount of hours spent working on a case or project.
The marketplace data for ContractsCounsel shows the average hourly rate for a family lawyer in Wisconsin ranges from $200 - $300 per hour.
Flat Fee Rates for Postnuptial Agreements
When a lawyer is hired to complete a drafting project like writing a postnuptial agreement, they may choose to quote a flat fee rate instead of billing by the hour. The attorney will use their experience to estimate how long the drafting project will take then quote the client a fair flat fee for all legal services.
ContractsCounsel's marketplace data shows the average flat fee rate for a postnuptial agreement in Wisconsin is $761.81.
Get Help with a Wisconsin 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 Wisconsin 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.
