ANTENUPTIAL CONTRACT WITH OR WITHOUT ACCRUAL IN SOUTH AFRICA?

Antenuptial Contract With Or Without Accrual In South Africa? An Antenuptial Contract excludes the system of marriage in community of property. A written agreement (antenuptial contract) before marriage or a civil union ensures that each spouse retains their separate property and financial identity. An antenuptial agreement might be advantageous for someone with assets like a house, business, or maintenance obligations towards children from a previous marriage. Being acutely aware of the consequences and advantages of each marital regime is paramount in making an informed decision before getting married.

Benefits of Marriage Out of Community of Property, without accrual:

* Should either party declare insolvency, creditors of the insolvent spouse will have no claim over the solvent spouse’s assets.

* Each spouse does not require permission from the other spouse when purchasing property, businesses, and assets. Each spouse can enter into a financial agreement independently.

*A spouse will not be liable for debts incurred by the other spouse. Benefits of Marriage Out of Community of Property, with accrual:

* An antenuptial contract with accrual allows the parties to keep what is theirs before marriage and retain their estate.

* The agreement determines how to share the parties’ accrued estates in the event of a divorce, death or dissolution of the marriage.