While you can specify in the agreement how you want to share the desired assets, you don`t need to list all the items you both own unless you want to. It is enough simply to list the items with a significant monetary or sentimental value. Small frills should not be included unless you just want to be deepened or one of the spouses really takes care of them. The agreement stipulates that all assets not expressly listed remain in the hands of the spouse who physically owned them (if it is a tangible asset such as a boat or animal) or documented property rights (if it is an intangible asset such as a bank account or a share). Yes, they can do this if they are properly created with independent legal advice from both sides.