How to Write a Marriage Contract

A marriage is an agreement between two people that may only be ended by a legal divorce or death. However, some parties seeking to marry desire further agreements that protect the existing financial assets of one or both parties. A marriage contract, also called a premarital contract or a prenuptial, defines the division of finances should the marriage end in divorce. Marriage contracts are more common in second marriages and among those who are currently wealthy.

Things You'll Need

• Financial documents & lists of assets

Instructions

1. Gather all documents that detail each individual's current financial investments, assets and assumed future inheritances. In order for a marriage contract to be legal and enforceable, the financial state of both parties at the time of signing must be fully disclosed.

2. State the intended financial settlement to be awarded upon the dissolution of the marriage. This includes the amount of money to be paid to one spouse by the other if the marriage dissolves. You may wish to state incremental amounts, based upon the duration of the marriage. For example, you may state that one spouse will pay the other $1,000 a month for ten years if the marriage lasts for five years or $10,000 a month for ten years if the marriage lasts for 20 years. Choose the amount and the duration of the payment based upon what you believe is fair.

3. Detail the division of assets. Usually this is a list of the assets one spouse brings into a marriage and intends to retain upon separation. While you may include income or presumed interest on investments during the time of the marriage, a judge may disallow these, or a portion thereof, during a divorce hearing. Allowable assets might include real estate holdings, savings accounts, stocks and other investments at their current value.

4. Omit financial payment amounts that concern children. Most states will not allow predetermined child support since the state retains the right to determine what is in any minor's best interest. This includes child custody arrangements. You may list specific items that a child will receive in addition to state-ordered support.

5. Ask an attorney to look over your marriage contract. He can advise you to include or omit further information, depending upon your specific circumstances. In addition, both parties should sign in front of a notary public.

Tips & Warnings

• Write down all agreements. Most judges will not honor any verbal agreements unless both parties to a divorce agree upon the terms.

• Your marriage contract may be upheld in court, but parts of it, or all of it, may be thrown out if the judge determines it does not comply with the laws in your state.

References

• Cornell University Law School
• Lawyers.com

Resources

• A Commitment Guide Before Marrying