QUESTION

What is a reasonable fee for drawing up a prenuptial agreement in the Chicago-land area?

Asked on Apr 26th, 2012 on Family Law - Illinois
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1 ANSWER

The word "reasonable" is subject to much interpretation.  While there is no set fee for legal work, most firms do have an hourly rate for their services.  You can ask the attorney what is the rate of compensation being charged and the number of hours of time being expended.  That should equal the fee being quoted.  If you have a relatively simply asset and debt situation, the number of hours would be rather low.  However, if you have complicated holdings and a detailed review of finances and assets is required, one would expect a much greater expenditure of time.  Additionally, more expertise may be required, which would be shown by a higher hourly rate. Finally, there is a comfort level that goes with the selection of an attorney.  An hourly rate may be higher or the quoted time greater, but you may feel this particular attorney is best for you.  A good working relationship with an attorney cannot be understated.  Every attorney has their own fee structure and way for relating to and with clients and prospective clients.  If you feel that you are being charged too much (the hourly rate too high, etc), then you should probably look elsewhere as there is already a gap in the needed trust/confidence factor that needs to exist between any client and attorney.  You may also feel the price is too low in comparison with other attorneys.  Questioning on time expenditures and additional fees can address that concern, but, again, it may not.  You may elect to look elsewhere based on the "comfort factor." The best answer is, based upon the legal services being provided and the level of attention being received, do you feel hiring this particular attorney is in your best interests?  The fee would then become a non-issue.
Answered on Apr 27th, 2012 at 2:23 PM

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