Marriage is one of the most important decisions you will ever make. Not only does it affect how you plan your future, but also how you allocate your assets. For this reason, many people choose to sign a prenuptial agreement before the big day. With all the advancements in technology, there are now online services that can make the process fast and simple. In this article, we’ll discuss why you should have one and review an industry-disrupting platform called Hello Prenup. It’s the first online service that allows couples to easily and affordably create a legally binding prenuptial agreement. Read on to learn more!
What Is a Prenup?
If you’re getting married soon, you and your future spouse may be considering a prenuptial agreement. A prenup is a legal contract that outlines how assets acquired before and during the marriage will be divided in the event of a divorce. It also addresses topics like spousal support and financial obligations if a marriage is dissolved. Many prenups also include a death clause which is helpful with estate planning if one spouse passes away during the marriage. So, as you can see, they’re useful even if you expect to be together forever.
However, you may be unsure about needing a prenup, especially if you aren’t wealthy. Furthermore, the legal fees are a major concern for those who aren’t sure they need one. Below we’ll discuss many financial factors of marriage and why it’s prudent for couples to get a prenup.
Why Should You Get a Prenup?
You may think that you don’t need a prenup because you and your future spouse aren’t rich and don’t have tons of assets. However, prenups aren’t just for wealthy individuals. Many financial experts believe that everyone should get a prenup. If you divorce and don’t have a prenup, you and your spouse may have to split your property according to your state’s laws (unless you can come to an agreement on your own, which many divorcing couples struggle to do).
Plus, many prenups also have a death clause that helps with estate planning if one spouse passes away during the marriage—so prenups aren’t just for divorce. Let’s take a look at how states divide assets to give you an idea of what a divorce without a prenup could be like.
How States Divide Assets
Every state has its own laws concerning the division of assets during a divorce. Nine states view all assets acquired during the marriage as “community property” and split it 50/50 between divorcing spouses, regardless of who earned those assets.
Most other states aim to divide property and debts equitably. The judge does this by considering factors such as the length of the marriage, each spouse’s earning capability, and their financial contributions to the relationship. However, equitable distribution leaves a lot of gray areas. Therefore, many important financial matters are up to the discretion of the judge. You never know if you’ll be happy with the judge’s ruling—one or both parties may leave the courtroom feeling unsatisfied or short-changed.
Prenups Are Like Insurance
Getting a prenup ensures that you have an agreed-upon plan for how to divide assets in the event of divorce (or death). Since you have an agreement in writing, it makes things much simpler. And, you won’t have to go through a drawn-out court battle to decide how to divide assets. A prenup will help you avoid legal fees and prevent a judge from deciding your finances for you.
Think of a prenup as an insurance policy—you get one hoping nothing bad will ever happen, just like homeowner’s insurance. Prenups can also ensure you and your future spouse are on the same page. Additionally, it encourages open communication about money, which is important for a healthy marriage.
What Is Hello Prenup And How Does It Work?
Speaking of getting on the same page about finances, Hello Prenup can help you do just that! It’s the first online platform that allows couples to quickly and affordably create a legal prenup for less than the cost of hiring an attorney. Hiring a lawyer to draft a prenup can cost thousands and take months. But with Hello Prenup, you and your future spouse can create a prenup in a matter of hours for just $599. Here’s how it works.
First, you’ll create a Hello Prenup account by entering some preliminary info like your name and wedding date. Then, you’ll invite your partner. You will both need to fill out individual questionnaires about how you want to handle important financial matters.
Next, you’ll indicate how you would prefer to handle the division of assets in the event of divorce. This is also where you specify what you want to classify as marital property versus individual assets. For example, many couples decide to keep things like gifts, inheritances, and property owned before marriage separate. However, Hello Prenup will help you decide what’s right for you and your partner.
Your form will also touch on topics like joint bank accounts, business ownership, spousal support, and more. You’ll have to fill out a financial disclosure at this stage, too. You will need to report all your income, assets, and debts. Keep in mind that this disclosure must be accurate and complete, or else a judge may dismiss your prenup as invalid.
After you and your spouse complete your forms, Hello Prenup will highlight any discrepancies between your answers. This will allow the opportunity to communicate and come to a resolution. Hello Prenup’s in-app negotiation feature will support you in resolving differences of opinion and brokering a financial compromise that works for both of you. Once you decide on fair terms, all that’s left to do is download your prenup, print it, and get it notarized.
Convenient and Comprehensive
Hello Prenup designed its process to be quick and convenient. It will save you valuable time so you can get back to planning your wedding and your new life with your future spouse. However, some people worry that the prenup won’t be valid because it’s so fast and easy to create. But, Hello Prenup ensures the validity and legality of its documents.
Hello Prenup was created by family law attorneys who know the ins and outs of prenups. The company also makes sure your documents are state-specific and comply with all relevant laws. This will prevent your prenup from being dismissed by a judge if you ever have to use it in court. It also has clauses you can add to your prenup at no extra charge. These clauses let you customize your agreement to fit your unique financial and lifestyle situation. Some examples include:
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A pet clause to outline who gets custody of the pets.
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A debts and liabilities clause to indicate how debts acquired before and after marriage will be split and handled.
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An infidelity clause.
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A primary residence clause to indicate who gets to remain in the primary residence in the event of divorce.
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A non-compete clause that prevents your spouse from competing against your family business.
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A sunset clause to dissolve the prenup on a specific anniversary.
These are just a few of the free add-ons you can use to tailor your prenup to your specific circumstances. And, there’s no need for a costly consultation with a lawyer!
Hello Prenup Reviews
Independent reviews of Hello Prenup are also generally favorable. Here is a summary from TrustPilot.
Out of 64 reviews, most (76%) were either 4 or 5 stars. Only a few people rated it below three stars. Among those who gave the site a low rating, most complained that the Hello Prenup agreement was insufficient and required an attorney’s review. Others reported that the Hello Prenup interface was buggy (via TrustPilot).
However, the service seems to work for most people.
Hello Prenup also has many reviews from very happy and satisfied couples. Reviewers have said the platform is streamlined, easy to use, and helps make financial discussions less awkward. Couples were also impressed with the price and value for the money. One couple even had their prenup reviewed by a lawyer for accuracy. They said their lawyer made no changes, which just goes to show how great this service is.
FAQs About Hello Prenup
FAQ 1. How much does a prenup cost?
Hello Prenup charges a flat rate of $599 per couple. According to data from US News & World Report, it costs about $2,500 per person when you hire a lawyer.
FAQ 2. How long does it take to get a prenup?
When you hire an attorney it takes approximately 3-6 months to draft, negotiate, and sign the official document. With Hello Prenup, you can draft and sign your document in a matter of hours!
FAQ 3. Can you make changes to your prenup?
If you are your partner decide to make changes to the agreement, you can create a new document to reflect this.
FAQ 4. Is it a legal document?
Hello Prenup was built by attorneys and ensures compliance with all state and federal laws. The individual state statutes are listed on each state page where you can read the fine print.
FAQ 5. Do I need to hire a lawyer?
Many states do not require you to fire an attorney. However, some states require legal advice or representation to enforce certain types of clauses. If you have any doubts or concerns, you can always hire an attorney to review the document and provide more specific advice to protect your assets. You can also bring your prenup draft to an attorney within our network who can make changes, if necessary.
Get Hello Prenup Today
The truth is marriage isn’t easy. However, a prenup is a good way to evaluate potential issues before you tie the knot. Hello Prenup also has the advantage of being inexpensive, legally binding, and largely automated. For most people, it’s an efficient and cost-effective alternative to hiring a lawyer. If you’re still not convinced, the Hello Prenup reviews speak for themselves. If this seems like the right decision for you, you can get it through this link, or click on the button below:
Although you hope you never need a prenup, it’s wise to have one as an insurance policy. However, the process can take months and cost a lot of money if you use a lawyer. Furthermore, it may put unnecessary strain on your relationship.
Hello Prenup solves this problem and makes creating a fair prenup quick and affordable. You and your partner can quickly and easily reach an agreement during the in-app negotiation phase. The platform will generate your prenup in hours, not months, for a fraction of the cost. Thanks to Hello Prenup, you’re free to focus on your life together instead of the legalese. Even if you don’t get the happily ever after you hope for, you can rest assured knowing that your financial future is secure.
