Who Should Pay for a Prenup?
One of the initial questions we often get regarding prenup agreements is, “Can the couples use the same attorney?” Who then should pay for the agreement to be drawn up?
The answer is far more important than preference. It is a critical part of what makes the agreement enforceable.
While at first glance, having the same attorney prepare their prenuptial agreement seems like a good idea, this may make the agreement unenforceable in the future. This is because for a prenup to be legal, both parties should have separate, competent representation to ensure it is being prepared in the best interest of each. Not only should couples have separate attorneys, they should not even have representation from the same law firm.
It is also important to demonstrate that neither party has been coerced into entering into an agreement. This may mean that even if a spouse recommends an attorney to their partner, it could be viewed as having an influence.
In short, what helps keep a prenup binding is that it is prepared in an open atmosphere with individual representation. Financial issues should be addressed with transparency, and negotiations should be conducted in the spirit of fairness and mutual respect.
This is also the reason both parties should pay for their own legal representation. Somewhat ironically, a prenup can include provisions for which parties are responsible for legal costs should a divorce occur. But it is best for each to pay for their own legal representation for the prenup itself. These separate payments help show that each party had their own legal representation that was acting in their best interest in the preparation of the agreement.
Our family law firm takes these issues seriously. We want you to be assured that the prenup agreements we prepare are done in compliance with the spirit and essence of the law. We even take precautions to ensure agreements are completed and signed 30 days prior to the wedding date. This helps assure that any deadline pressures are minimized.
It can be easy to get caught up in the seemingly competitive nature of preparing a prenup or in “winning”. While protecting premarital assets is particularly important, so are transparency and openness. It can be an important step in building a solid foundation for your marriage.
Do you have questions about prenuptial or postnuptial agreements? Perhaps you are in search of a Tampa, Florida, lawyer who specializes in prenups. Contact us, and let’s talk. An initial consultation is free. Let’s see if we are a good fit in moving ahead together. We look forward to talking with you.
If you have questions about a prenup agreement or a postnup agreement or require legal assistance in other areas of Family Law in Tampa, Florida such as high asset divorce you may always contact Damien McKinney of The McKinney Law Group to discuss your case further. He can be reached by phone at 813-428-3400 or by e-mail at [email protected].
We now offer online prenuptial agreements. Contact us to inquire further about our online prenup option.