He was the eldest son of George I, Prince of Anhalt-Dessau, by his second wife Sophie, possibly a member of the House of Hohnstein.
Under the terms of this contract, George I, Prince of Anhalt-Dessau, took over the government of half the principality of Anhalt-Köthen and became co-ruler with Adolf as "Mitherr."
The new Prince Albert died fifteen months later and was succeeded by his infant son Philip.
Philip died without issue in 1500 and Adolph I's sons formally renounced their rights to rule the principality eight years later.
In consequence, Waldemar became the sole ruler of Anhalt-Köthen, but enjoyed this status for only a few months during the year 1508.