accrual calculation
When it comes to divorce, the process in a community of property marriage is relatively simple as it involves the joint estate being equally divided between the two spouses. The only exception to this is where one spouse brings an
The accrual is effectively the net increase in the value of each spouse’s estate since the commencement of the marriage, meaning that the spouses share equally in the increase in value of both of their estates while the marriage existed.
Living trusts are frequently used by divorcing spouses to hide assets so as to reduce the value of their estates. A spouse married with the accrual is free to set up an inter vivos without the consent or knowledge of
Upon the death of the first-dying spouse, the increase in the real value of the respective estates must be determined and accordingly the accrual claim. In its most simplistic form, if the surviving spouse’s share is less than the that
Where married with the accrual system, each spouse is free to set up trusts, whether inter vivos or testamentary, in accordance with their needs and objectives. This means that a spouse is free to transfer assets owned by him into
An uncontested divorce requires that the couple works together to agree to the terms of the divorce in respect of how their assets will be divided, how their children will be cared for, and what maintenance will be paid, if
If a couple is married with the accrual system, the spouse’s pension fund interest will be taken into account when determining the value of his estate for the purposes of the accrual calculation, and a claim can be laid to
