What is a prenup?
A prenuptial agreement, also called a premarital agreement or a prenup for short, is a written agreement where both spouses come to a clear understanding on the division of assets, debts and other marital obligations in the event of a divorce or death.
You and your spouse may start with a mutual understanding about finances and other matters, but it’s a good idea to put the agreement in writing.
This way, both parties are clear on the specific terms of the agreement, and if for some reason a dispute arises in the future, the terms are much easier to enforce.
It's so unromantic, so why have a prenup?
Prenups are unfairly judged as a sign of distrust, not love. We feel that having this conversation with your soon to be spouse is a sign of deep trust, openness and transparency.
You marry for love, but in todays world, a marriage certificate is also a legal contract.
It's important to understand what each person has coming into the relationship, and what each person expects from the relationship.
We know it might be a difficult discussion to have, but we believe it can also bring more intimacy to the relationship if the foundation of communication is based in honesty.
What topics are covered in a Prenup?
Prenups / Postnups can be used to:
- Clarify financial rights and responsibilities during a marriage.
- Clarify and protect an individual's separate property or assets.
- Determine how to split property purchased during the marriage.
- Protect a party from assuming the debts of the other party.
- Determine how property will be passed upon death.
- Avoid long, costly disputes in case of divorce.
What is the difference between a prenup and a postnup?
A prenuptial agreement occurs prior to a marriage.
A postnuptial agreement, also called a postnup, is entered into after the marriage has taken place.
Do I need an attorney to draft my prenup?
Although it is perfectly fine to negotiate and create a basic prenup yourself, the laws can be complicated and at a minimum, we advise you to consult with an attorney before getting started.
Both parties should get the prenup reviewed by their own attorney who can advise them on their rights and review the prenup to ensure it complies with state law.
What is included in the flat fee?
- All your questions answered.
- All phone and email communication.
- 1 hour meeting with attorney/mediator Michael Cotugno (via phone or in person).
- Drafting and preparation of the agreement.
- Up to 2 revisions of the final agreement.
How much is the flat fee for a Prenuptial Agreement?
Conscious Divorce offers a $1,200 flat-fee prenup document preparation service for individuals and couples who desire a formal premarital or postmarital agreement.