ANTENUPTIAL CONTRACTS LAWYERS IN SOUTH AFRICA
Your Preferred Legal Partner In Antenuptial Contracts In South Africa
WHAT DOES AN ANTENUPTIAL CONTRACT ENTAIL IN SOUTH AFRICAN LAW?
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 or a business or maintenance obligations towards children from a previous marriage.
There are three main marriage regimes in South Africa:
Marriage Out of Community of Property, without accrual.
Marriage Out of Community of Property, with accrual.
Marriage In Community of Property.
Being acutely aware of the consequences and advantages of each marital regime is paramount in making an informed decision before getting married. It is also important to note that only a notary public is, by virtue of his or her office, entitled to practice in certain areas of law that an attorney may not, such as the preparation and execution of antenuptial contracts. A notary public is held to a higher standard of care than an attorney, and at PM Attorneys we are both.
PM Attorneys, Notaries and Conveyancers is one of the leading law firms in Pretoria, practising from their offices in Centurion. Our specialist notary publics have been operating since 2008, drawing up antenuptial contracts and postnuptial contracts with highest standard of care based on their extensive knowledge of South African laws. Because of our proficiency in drawing up antenuptial contracts, PM Attorneys is able to execute even the most complex kind of antenuptial contracts. Whether your choice is an antenuptial contract with or without accrual, our knowledgeable team of notary publics will draw up a contract to suit your individual needs.
BENEFITS OF ENTERING INTO AN ANTENUPTIAL CONTRACT WITHOUT ACCRUAL.
Should either party declare insolvency, creditors of the insolvent spouse will have no claim over assets of the solvent spouse.
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 ENTERING INTO AN ANTENUPTIAL CONTRACT WITH ACCRUAL.
An antenuptial contract with accrual allows the parties to keep what is theirs before marriage and still 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.
Before 1984, all antenuptial agreements concluded excluded the accrual system. Parties married before 1984 who are getting divorced will have the redistribution of their assets decided on by a judge. Enough time must be left before the marriage to have the contract drawn up by an experienced lawyer who is a registered notary public for registration at the deed’s office.
DISADVANTAGES OF MARRIAGE IN COMMUNITY OF PROPERTY.
Marriage in Community of Property is where the accumulated properties, assets, and liabilities are shared equally between the parties during the subsistence and dissolution of their marriage.
The spouses become co-owners of their combined assets and liabilities.
A marriage is automatically in community of property should, upon conclusion of the marriage, no antenuptial contract is entered into.
ADVANTAGES OF POSTNUPTIAL CONTRACTS
A Postnuptial Contract is a written agreement executed after a couple gets married or has entered into a civil union.
A postnuptial arrangement is designed to govern the division of a married couple’s assets upon divorce.
Postnuptial agreements are made between spouses who are already married to determine the fate of their assets either through divorce or death.
Personal property, real estate, business interests, retirement accounts, investments and debts can be discussed and agreed upon.
PM Attorneys boast extensive experience, knowledge and years in practice, making us the preferred legal partner in South African Law. Contact us for professional, expert advice and practical legal solutions to your marriage registration related matters.
