Emeritus of Ideation // Ancestral Recall

A creature without a prepare spell can't become prepared.

Creating a copy of a creature's prepare spell in exile ignores copy exceptions applied to that creature that would affect the copiable values of that spell. For example, say a player casts Croaking Counterpart (a sorcery that says "Create a token that's a copy of target non-Frog creature, except it's a 1/1 green Frog.") targeting Goblin Glasswright. The token copy of Goblin Glasswright will enter prepared as a 1/1 green Frog creature, but the copy of Craft with Pride in exile will still be a red sorcery. The copy of Craft with Pride won't be green, a creature, or a Frog, and it won't have power or toughness.

If a prepare spell with one or more targets has no legal targets when it tries to resolve, it won't resolve and none of its effects will happen. Since the spell was cast, the associated permanent will still not be prepared.