Reply to Prenupt/Marital Agreement - Do you have one and thoughts on getting one

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wouldn't you each need a lawyer?  Seems hard for one lawyer to represent both of you, since the premise of the agreement is you will be separating.[/quote]

OP here, yes I believe that's correct [b]although most of the fees will be incurred by the lawyer drafting the agreement[/b].  I assume the fees for the lawyer advising the other party won't be that much as we're in agreement on the substance of the terms.[/quote]

Domestic relations lawyer here:  this is not true at all.  It is labor intensive going through and figuring out what was left out...[/quote]

Fair enough.  Can you provide any ballpark cost estimates for a fairly simple prenupt/marital agreement?  Separate finances so we'd keep our own accounts, 401Ks, neither side pays alimony, etc. so it should be fairly straightforward.

Also, any thoughts on how we can reduce legal fees?  Our thought was to prepare an itemized list of things and our agreement on them as well as a list of assets for disclosure.[/quote]

Just posted, but it cost us about $6K to do our prenup which is ludicrous. We ran into a slight change (because I bought a home while we were drafting) and it took forever, even though we were in agreement. Lawyers charge to "think" about your emails. So here's my advice -- be very direct and very specific in any correspondence you send. Provide a draft of what you want yourself and have them add the lawyer-ese. And talk to your partner before hand and make sure you're in agreement before you go to the lawyer.

Also, use an associate instead of a partner. It will be fine and a lot less expensive.[/quote]

Thank you, wow I didn't realize it would cost that much although it sounds like you might have more assets than us.  I'm a lawyer (although not in family law) so I may just draft it and let spouse take it to a lawyer to review since we’re in agreement on everything that way there’s no issue of one party not being adequately represented.  [/quote]

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