The expense associated with establishing a premarital agreement, commonly known as a prenuptial agreement, varies considerably based on several factors. These factors include the complexity of the agreement, the assets involved, the location, and the hourly rates of the attorneys drafting the document. A straightforward agreement for a couple with relatively few assets may cost a few thousand dollars. However, for individuals with substantial holdings or complex business interests, the cost can escalate significantly, potentially reaching tens of thousands of dollars.
Such agreements provide clarity and security regarding financial matters in the event of divorce or death. They offer a mechanism for individuals to protect premarital assets, define separate property, and address spousal support. Historically, these agreements were primarily utilized by affluent individuals. However, their use has expanded as societal norms surrounding marriage and finances have evolved. They are increasingly recognized as a practical tool for couples of all economic backgrounds who wish to establish clear financial expectations before marriage.
