Fillable Printable Premarital Agreement
Fillable Printable Premarital Agreement
Premarital Agreement
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STATE OF NORTH CAROLINA
COUNTY OF MECKLENBURGPREMARITAL AGREEMENT
This PREMARITALAGREEMENTis made this ____dayof_________,
200__, byand between _____, a resident of_____ County, North Carolina (hereinafter
"____"), and _____, a resident of _____ County, North Carolina (hereinafter "____").
RECITALS
1. _____ and _____ contemplate marriageto each otherwithin areasonable
period after the dateof this Agreement,specificallyduringthemonth of_______,
200__.
2. The parties have reflected on their marriageand have engaged in lengthy
discussions about it.
3. Each expects that each partywill abide bythe terms of this Agreement
during the ongoing relationship to help insure a healthymarriage.
4. Neither contemplates that theimpendingmarriage will fail, and neither
intends for this Agreement to facilitate a divorce. Nevertheless, the parties agree in this
writing in advance of their marriage to certain matters and further agree that these
provisions will bind them, regardless of the success or failure of their marriage.
5. _____ and _____bothand have children ofa former marriageto whom
each partywishes to leave a portion ofher or his estate upon death. Each partyagrees
that it is just and fair that the children ofthe other partyshould participate in theestate of
the other party as though this marriage had not taken place.
6. Except as specificallyagreed herein and provided for herein, eachofthe
parties has assets andearnings, or earnings potential, sufficient to provide for her or his
own maintenance and support in a proper and acceptable standard of living withoutthe
necessityoffinancial contributions bythe other, and each of the parties is aware ofthe
hazards andthe risks of the continuation ofearnings and ofthe changes in assets and
liabilities ofeach partyand ofthe possibilityofthe substantially changed financial
circumstances ofeach partywith the result that the earnings, or net worth, or both, ofone
party is or may be substantially different from those of the other party.
7. Each has made an adequate disclosure ofall relevant financial information
to the other ofher or his financial worth, assets, liabilities, and income, as attached to this
Agreement.
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8. Each partyvoluntarilyand expresslywaives anyrights to disclosure of the
property or financial obligations of the other party beyond the disclosure provided.
9. Each partydesires to retain as her or his separate propertyall propertythat
she or he mayown at the time oftheir contemplated marriage. Each partyalso desires to
retain as her ofhis separate propertycertain propertyacquired after marriage as defined
in more detail herein.The parties have expansivelydefined "separate property" and
intend for that definition to control whereverthe term appears in this Agreement. The
parties understand that the definition of marital propertyis more narrow than provided in
North Carolina law and the definitionofseparate propertyis broader than providedin
North Carolina law.
10. The parties intend by entering intothisAgreement to determine what
property, now and in the future, shall be her orhis own separate propertyand that, except
as provided in th is Agreement, all of the propertyof each, however acquired or held, shall
be free from anyconsideration as marital property, communityproperty, quasi-
communitypropertyoranyother form ofmarital or communityproperty, as those terms
are used and understood in anyjurisdiction, including but not limited to the state ofNorth
Carolina.
11. Each partydesires to accept the provisions ofthis Agreement in full
dischargeand satisfaction of all rights whichshe or he might or could havebyreason of
their marriage, in the propertyor income which the otherpartynow has or mayhereafter
acquire and in the estate ofthe other partyupon the death ofthe other party. Each party
clearlyunderstands that byvirtue ofthis Agreement, she or he will not be entitled to
share in the estate of the other in the event of the death of the other party.
12. Each partyseeking to be bound bythis Agreement, has read the Agreement
carefully and has consulted with, or been advised of the right to consult with, independent
counsel about its provisions and acknowledges that it is fair and equitable.
The parties therefore agree as follows:
ARTICLE I
1. CONSIDERATION.The mutual waivers and stipulations in this
Agreement and the marriage itself shall constitute consideration for this Agreement.
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ARTICLE II
2. DEFINITIONS. For purposes of all Articles of this Agreement:
(a) "Marital Property" includes the following:
(i) all personal propertywhichdoes not have title, wherever
situated, acquired bythe parties during the course of the marriage by checks
drawn against a bank account in the names of both spouses;
(ii) for items of personal propertywhich have instrumentsof title,
all personal property, wherever situated, titled in the joint namesofthe
parties.
(iii) all realproperty, whereversituated, acquired bytheparties
during the course of the marriage and titled in the name of parties as tenants
bythe entireties.
(b) "Separate Property" includes the following:
(i) all property- real, personal or mixed- wherever situated,
acquired byeither partybefore marriage.
(ii) all property- real, personal or mixed - wherever situated,
acquired byeither party after marriage in one of the following ways:
(1) byone ofthe spouses bygift or inheritance after
marriage. If one spouse receives a gift from the other spouse, that
propertyshall be considered the separate propertyofthe spouse
receiving it;
(2) bya check drawn on a bankaccountin the name ofone
spouse only, unless the acquiring partyplaces the propertyin the
name of both spouses;
(3) in exchange for separate property.
Thus, ifone asset acquired before marriage by
either ofthe parties oracquired after marriagein a way
listed in Article II.2.(b) is sold, transferred or
exchanged for a new piece of property, then that new
piece ofpropertyshall remain the separate propertyof
the partywhose original propertywas sold, transferred,
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or exchanged, even if the action followed the marriage.
Separate propertyshall also includeany and all
businesses or assets which are successors toseparate
propertyor the income or increase in value of the
above, whether activ e or passive.
(4) the income from or increase in value, whether active or
passive, of propertylisted in Article II.2.(b);
(5) a bank account in the na me of one spous eonly, regardless
of the source of the deposits, and anybusiness accountmaintained
byeither partyin her or his separate name, regardless ofthe source
of the deposits;
(6) vested or nonvested pension or retirement rights and the
expectation of non-vested pension or retirement rights;
(7) earnings or earning potential of one of the spouses,
together with all propertyacquired or income derived from those
earnings or earning potential, unless such earnings are deposited in a
joint bank account, in which event, upondeposit, theybecome
marital property.
(8) propertythat, in the absence ofthe existence and
applicabilityof this contract, will qualify, under N.C.G.S. § 50-
20(b)(4) as “divisible property”,or wouldotherwisequalifyas
“divisible property” in any future amended form of the General
Statutes of North Carolina.
(c) "Divisible Property" includes all propertynot defined as marital or
separate property.
The parties acknowledge that the term “marital property” as defined in this
Agreement is narrower than the definition ofmarital, communitypropertyor
quasi-communitypropertyunder the laws ofNorth Carolina and most states.
Theyacknowledgethatthe term "separate property" as defined in this Agreement
is broaderthanthe definition ofseparate ornon-marital propertyunder the laws of
North Carolina andmost states.
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ARTICLE III
FULL DISCLOSURE; WAIVER OF ADDITIONAL DISCLOSURE;
INDEPENDENT LEGAL ADVICE
3.1 FULL DISCLOSURE OF FINANCIAL INFORMATION. The parties
agree that each partyto this Agreement: (a) has made a full and fair disclosure to the
other ofhis or her financial worth, assets, liabilities, and income, as attached to this
Agreementas Schedules A and B;(b) has prior tothe executionofthis Agreement
reviewed these Schedules and, therefore, is acquainted with the financial circumstances
of the other; (c) has weighed all the facts likelyto influence his orher judgment in all
relevant matters; and (d) has given due consideration to all such matters and clearly
understands all the provisions ofthe Agreement. Each partyiswilling to acceptthe
provisions of this Agreement in lieu of all other rightsthat each might have under the law
and wishes a court of competent jurisdictionto acceptthe provisions contained inthis
Agreement in full settlement of the respective rights of each.
Each partyis satisfied with the disclosure made. Each partyvoluntarilyand
expresslywaives anyright to disclosure of the propertyor financial obligations ofthe
other partybeyond the disclosure provided. Each acknowledges that this waiver is made
with thefull benefit oflegal counsel and knowledge of its legal consequences.Neither
partywill subsequently assert that this Agreement should be avoided for lack offinancial
disclosure.
3.2 ADVICE OF INDEPENDENT COUNSEL. Each party hereby
acknowledges receipt of specific advice pertaining to this Agreement byseparate and
independentcounsel, who advised and discussed fullythe current law concerning
divorce, alimony,post separationsupport, and division ofproperty,includingequitable
distribution, andthe alternativesavailable to each in theeventof a marriage and a
subsequent divorce without any premarital agreement.
ARTICLE IV
SEPARATE AND MARITAL PROPERTY
4.1 RETENTION OF SEPARATE PROPERTY. Each partyshall: (a) retain
the sole ownership of all ofher or his separate property; (b) have the exclusive right to
dispose ofsuch separate property, byinter vivos ortestamentarytransfer, or byanyand
all otherdispositions; and (c)havethe exclusive right toencumber orpledgethe
property, in such manner as shall bedetermined at the solediscretion ofthe owner ofthe
separate property, as if the forthcoming marriage hadnot taken place. Each party shall,
at the request ofthe other, sign anydeeds or other documents whichmaybe necessaryto
enable the other partyto deal with her or his separate property in the manner described in
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this provision. To illustrate, either partyshall, at the request ofthe other, execute such
documents as maybe necessaryto waive her or his interest, either actual or contingent,in
anypension, profit sharing, or retirement planthat is maintained in the name ofthe other
party.
4.2 OWNERSHIPANDDIVISIONOF MARITAL PROPERTY. Any
marital propertyshall be jointlyowned, and ifthere is no other designation, shall be
presumed to be held equallybythe parties with such survivor rights (ifany) as maybe
specificallydesignated bythe title ownership or as maybe implied or be derived by
operation oflaw, other than bythe operation ofthe equitabledistribution law or
communitypropertyor anysimilar law ofanyjurisdiction involving marital property,
communityproperty,quasi-communitypropertyor anyotherform of marital or
communityproperty.In the event the parties should separate and not live together as
husband and wife, all ofthe marital propertybelonging to the parties shall, upon
separation, be divided byvalue equally between them.
4.3 WAIVER. Each of the parties hereto hereby waives anyright or claim of
anykind which either mayhaveor shallhavein the separate property ofthe other under
anypresent or future law of this State and anyother state, except as otherwise specifically
provided in this Agreement.
The partiesintend bythis Agreement to enter into a contract in accordance with
G.S. § 50-20(d) and to distributetheir maritalandseparate propertyas defined bythis
Agreement. Because this Agreement provides for the distribution of all propertyowned
bythe parties and hereafter acquired, the parties alsowaivethe rights to institute any
form oflegal action for a division of propertyexcept for anaction to enforce this
Agreement as written.
4.4 BANK ACCOUNTS.During the marriage, ___ shall openand maintain
her own separate bank accounts in thebankor banks of her choiceon which onlyshe,
and not ___ ,maydraw checks.During the marriage, ___ shall open and maintain his
own separate bankaccounts in the bankor banks ofhis choiceon whichhe, and not ___,
maydraw checks. During the marriage,the parties shall open and maintain joint
account(s) upon which both parties shallbe entitled separatelyto draw checks
(hereinafter "joint bank account").
4.5 USE OF JOINT BANK ACCOUNTS. ___and ___ agree tocontribute
to one or more joint bank accounts from time to time. From oneor more jointbank
accounts, the parties shall payall common household expenses, food, entertainment, joint
travel expenses, and all other reasonable expenses for their joint maintenance. In
addition, the parties shall use one or more joint bank accounts to acquire marital property.
The determination asto the exact amounts to be contributed byeach partyto one or more
joint bank accounts will varyfrom time to time as the parties in their sole discretion may
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determine. The parties contemplatethat___( OR )byreason of___ (HER OR HIS)
superior economic position, shall make substantial contributions to one or more of these
accounts during the time the parties live together. In the event ofa later separation,
neither partyshall have anyobligation thereafter to make contributions to anyjoint bank
accounts.
4.6 TRANSMUTATION.Except as otherwise provided in this Agreement,
propertyor beneficial interests now owned or hereafter acquired bythe parties, which by
the terms of this Agreement are classified asthe separate propertyofone of them, can
onlybecome the separate propertyofthe other or the parties' marital propertybya
written instrument executed by the party whose separate property is thereby reclassified.
ARTICLE V
ALIMONY OR SPOUSAL SUPPORT
5.1 EXCLUSIVE ALIMONY OR SPOUSAL SUPPORT BY
AGREEMENTIN LIEU OF OTHER RELIEF. Whilethe parties contemplate a long
and lasting marriage, terminated onlybythe death ofone of the parties, theyalso
recognize the possibilitythat their marriage maybe terminatedbydivorce. In the event
of divorce, regardless ofwhich partyis at fault, or initiates such action, andregardless of
the jurisdiction, venue,or location ofsuch action, the parties specificallyagree that this
Agreement shall serve as a bar or estoppel ofeither to receive fromthe other any alimony
or spousal support, whether temporary, post separation support,or permanent, except as
set forth below. The parties recognize that these provisions differ from the rights
provided bylaw and further recognize that at the time ofenforcement, there might be a
substantial difference between a spouse's rights under this Agreement and what might be
awarded bya court in derogation ofthis Agree ment. Anyaward made bya court in
derogation of this Agreement or until the validityofthis Agreement is established, shall
be deducted from the amount due under the Agreement.
___ shall payto ___ for each full year the parties aremarried untilsuch time as
there is a separation between the parties, the sum of $_______________ per year. Thus,
if the parties are married for three years, ___ shall pay___ threeyears spousal support at
$__________ for eachyear. Eachfraction ofa year thereafter shall resultin an equal
fraction of the spousal support payment.
The payment of spousal support shall begin one week after physical separation.
The yearlyaggregatesums shall be payable in equal monthlyinstallments, without
interest. All such obligations ofandpayments by___ shall terminate conclusively and
forever upon the first occurrence ofthe death ofeither ___ or ___ or ___'s remarriage as
remarriage is defined in this Agreement.
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5.1A. CONDITIONAL WAIVER OF ALIMONY OR SPOUSAL SUPPORT.
While the parties contemplate a long and lasting marriage, terminated onlybythe death
of one ofthe parties,theyalsorecognize the possibilitythat theirmarriage might be
terminated bydivorce. In the event of divorce, regardless ofwhich partyis at fault, or
initiatessuchaction,and regardlessofthe jurisdiction,venue, or location ofsuchaction,
the parties specificallyagree that this Agreement shall serve as a bar or estoppel of either
to receive from the other anyalimonyor spousal support, whether temporaryor
permanent, except as set forth below. The parties recognize that these provisions differ
from therights provided bylaw and further recognize that, at the time of enforcement,
there mightbe a substantial difference between a spouse's rights under this Agreement
and what might be awarded bya court ifthe parties had not enteredinto this agreement.
Anyaward made bya court in derogation ofthis Agreement or until the validityof this
Agreement is established shall be deducted from the amount due under the Agreement.
Prior to the execution ofthis Agreement, the parties were capable ofproviding the
necessarysupport required ofherselfor himselfwithout the need for contribution bythe
other. The parties anticipate that each shall remain gainfullyemployed outside the
marital home. In the event the parties' marriage terminates bydivorce, each waives any
right she or he mayhave to the other ofalimonyor spousal support, whether temporary
or permanent, unless at least one ofthe following circumstances apply:(a) either ofthe
spouses has notworked outsidethe home for significant periodsbecause offamily
responsibilities; (b) either ofthe spouses has reduced workoutside thehome for
significant periods because of familyresponsibilities;(c) because offamily
responsibilities, either ofthe spouses has worked for a significant period in employment
which earns less incomethantheotherspouse; (d) because offamilyresponsibilities,
either of the spouses at the time of divorce works in employment which earns less income
than the other spouse, or (e) either spouse has encountered serious health problems
affecting her or his abilityto earn income. [The parties further agree that any potential
obligation to providethe other alimony or spousal support, whether temporary or
permanent, is contingent upon the receiving spouse not beingmaterially at fault inthe
breakup of the parties' marriage.]
5.1B. WAIVER OF ALIMONY OR SPOUSAL SUPPORT. While the parties
contemplate a long and lasting marriage, terminated onlybythe death ofone of the
parties, theyalso recognize thepossibilitythat theirmarriage might be terminated by
divorce. In the event of divorce, regardless ofwhich party is at fault, or initiates such
action, and regardless of the jurisdiction, venue, or location of such action, each party
herebywaives anyright to alimonyor spousal support, either temporaryor permanent, at
anytime for any reason, and further waives the right to make a claim against the other for
such payments. Theparties recognize that these provisions differ from the rights
provided bylaw and further recognize that atthe time ofenforcementofthis Agreement,
a substantial difference might exist between a spouse's rights underthis Agreement and
what might be awarded by a court if the parties had not entered into this Agreement.
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The parties acknowledge that,although the Uniform Premarital Agreement Act
appears to authorize this waiver, the NorthCarolina courts have not interpreted the
provision. In the eventa waiver ofalimonyor spousal support mayhereafter be allowed
in North Carolina, each partyherebywaivesanyright to alimonyor spousal support,
whether temporaryorpermanent, and waives the right to make a claim against the other
for such payments.
5.2 MARRIAGE OF THE PARTIESAND REMARRIAGE.The time
during which ___ and___ are married, or the period ofthe marriage ofthe parties, as
used everywhere in this Agreement, shall constitute the period of time commencingwith
the ceremonial marriage of the parties to each other and continuing until the earliest
happening ofanyof the following event: (i) the commencement ofan action for divorce,
alimony,or post separation support, or anysimilar action or proceeding inanyother
jurisdiction; (ii) the divorce or legal separation (bydecreeor judgment or byagreement)
of the parties, or (iii) the physical separation ofthe parties wherein either or both of the
parties have commenced to live separate and apart from theotherwith theintentnot
thereafter to live together, regardless ofwhether that intent is expressed in writing, orally
or otherwise, or (iv) the death of either party.
"Remarriage" as used everywhere in this Agreement shall be deemed a remarriage,
regardless of whether the remarriage shall be void or voidable or terminated by divorce or
annulment or otherwise and shall also be deemed to include circumstances wherebyone
partyshall live with an unrelated person in a husband-wife relationship (regardless of
whether theyhold themselves out as such) for a continuous period of _______________.
5.3 PAYMENTS ARE ALIMONY FOR FEDERAL INCOMETAX
PURPOSES. The parties agree that anypayments to be made pursuant to the provisions
of [Paragraphs 5.1 or 5.1A]shall, for federal income tax purposes, be deemed and
considered as payments of alimony or payments in lieu of alimony.
5.4 EARNINGS AND EARNING POTENTIAL. Each partyacknowledges
that all earningsand earning potential and propertyacquired with those earningsor
earning potential shallbe the separate propertyof the partyto whom the earnings or
earning potential are attributable, unle ss such earnings are deposited in the joint account,
in which event, upon deposit, they becomemarital property.
ARTICLE VI
ESTATE BENEFITS
6.1 UNCONDITIONAL ESTATE WAIVER. Each partyunconditionally
waives anyof the following rights: rights of dower and courtesy, rights of setoff, rights to
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statutoryor distributive shares, rights to dissent from the will or testamentarywriting of
the other spouse, and rights of election, as maynow be provided under the laws of North
Carolina and anypriorexisting, or subsequent similar provisions oflaw ofthis or ofany
other jurisdiction. Except as provided in paragraph 6.2, nothing in this Agreement shall
prevent or limit either partyfrom hereafter making enforceable provisions for the other
partybywillor testamentarywriting, in which event the provisions thus made shall
control.
6.2 WAIVER OF ESTATE BENEFITSIN THE EVENT OF
SEPARATIONOR DIVORCE. While the parties contemplate a long andlasting
marriage, terminated onlybythe death ofone ofthe parties, they also recognize the
possibilityofphysicalseparation with theintent byat least oneofthe parties not
thereafter to live together and the possibilitythat their marriage might be terminated by
divorce. In the event ofphysical separation with the intent byat least one ofthe parties
not thereafter to live together and in the event oftermination bydivorce, the parties agree
to waivethe rights in this provision in addition to theprovisionsof paragraph 6.1: rights
to take under anywill or testamentarywriting ofthe other spouse, now or hereafter in
existence; and rights to act as executor or executrix, administrator or administratrix, or
trustee or in anyotherfiduciarycapacityfor anyreason whatsoever with respect to the
other party's estate.
6.3 ACKNOWLEDGEMENT OF EFFECTOF ESTATE WAIVERS.
Each understands andacknowledges that, by signing thisAgreement, that partymay
receive, in the event of the other's death, a sum which maybe substantiallyless than that
which she or he wouldotherwise be entitled to receive under the laws ofNorth Carolina
or other states.
ARTICLE VIA
MARRIAGE CONTRACT
6A.1 The parties agree to retain and use the given and familynames of[insert
name].
6A.2 Anychildren born to the parties shall bear ______'s family name.
6A.3 The parties agree that each will provide affection andcompanionship to the
other and will be available for intimate sharing and for sexual relations.
6A.4 The parties agree to maintain sexual fidelityto each other.
6A.5 The parties presentlyintend to have two children and agree that the timing
of their birth shall be decided deliberately and bymutual consent.
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6A.6 The responsibilityfor birth control shall be shared by the parties: _____
until the time ofthe birth ofthe second child, ______ shall beprimarilyresponsible for
birth control and afterthe birth of the second child, _______shall be primarily
responsible for birth control.
6A.7 The partiesagree thatchildrearingshall be amutual privilege and
responsibility. In allocating time and duties, the parties shall take into account (a)
demands ofrespectivecareers; (b) individual needs to establish, maintain, and cultivate
social and business contacts; (c) individual desires and skills; and (d) best interest ofthe
children.
6A.8 The parties agree that, should a career opportunityarisefor one of them in
another city, the decision to move shall be mutual. _________ herebywaives his right
solely to determine the legal domicile of the parties.
6A.9 Thefactors to be considered in deciding tomove shall include: (a) overall
advantage to be won in pursuing the career opportunityweighed against the
disadvantages, economic and otherwise,to be incurred bytheother; (b) personal
preferences as well as inherent advantages and disadvantages of climate and location of
the new job opportunity.
6A.10 The parties agree that either mayliveseparate from the other, outside the
cityof the marital domicile, for a reasonable period oftime, ifeducational or career
opportunities are presented to one at a time when the other for similar reasons must
remain at the current domicile; and such a temporaryseparation shall in no wayalter the
marriage relationship and shall not constitute a ground for separation or divorce under the
laws of North Carolina or any other state.
6A.11 The parties agree that decisions about living space in the home shall be
mutuallymade without regard to the parties' financial interest in the ownershipor rental
of the home and that each partyshall haveanindividualarea within the home in an equal
amount, insofar as space is available.
6A.12 The parties agree to share equallyin the performance ofall household
tasks, taking into consideration individual schedules and preferences and rejecting the
concept that housework belongs to the wife and home maintenance and repair to the
husband.
