How to Make Your Own Premarital Agreement

Protect yourself and your spouse financially with a premarital agreement.

A premarital agreement, also known as a prenuptial agreement, is a legally binding contract that is used to protect both people involved in a marriage in terms of assets, liabilities, personal properties and insurance coverage in the event of death or divorce. It is important that each person agrees fully with each term in the agreement. You and your future spouse can create a premarital agreement together, but it is not legally valid until a lawyer authorizes the agreement. It is advisable that each person has his or her own lawyer during the process.

Things You'll Need

• Proof of assets
• Proof of income
• Willing parties
• Prepared Document
• Several Days Before the Wedding
• Pen
• Notary or Witness

Instructions

1. Make a list of all of your assists, liabilities, incomes and gift or inheritance expectations after you are married. This includes mortgages, automobiles, animals, artwork, salaries and expected gifts from friends, family or inheritances. Decide whether these premarital items will be divided equally in the marriage or if both of you will claim sole ownership of your own items after marriage.

2. Make a detailed description of how the debts of each person will be paid after you are married. For example, if you fiance has college debt, make a detailed plan of who will be responsible in paying that debt after marriage. You may resolve that the person who owns the debt will be responsible, or you may resolve that both parties will pay equally to the debt.

3. Create a detailed plan concerning how premarital property will be divided in the event of appreciation, gains, rentals, dividends and rentals in the case of a death or divorce. This includes deciding who will claim ownership to marital properties in the case of death or divorce. You may decide that these properties will be divided equally, or you may decide that one person will claim ownership if such events occur.

4. Write out a plan for death benefits for each spouse, stating what each person leaves in a will in the event of death. This can include assets, inheritances, properties and personal items.

5. Write out a plan detailing the types of medical, disability, life and long-term-care insurance coverage you will receive during the marriage.

6. Make detailed plan concerning alimony, maintenance and spousal support in the case of divorce or death.

Tips & Warnings

• This is not legal advice. You are encouraged to seek legal help when drafting a premarital agreement.

References

• Equality in Marriage: Creating a Prenuptial Agreement
• State Lawyers: Prenuptial Agreement