accrual system
One of the greatest disadvantages of this marital regime is that the couple remains jointly liable for each other’s debt, including debt incurred before the marriage. In a community of property marriage, one spouse has the capacity to bind the
It is important to keep in mind that there is no such thing in our law as a ‘common law spouse’, and no legal status is conferred on couples who choose to live together without getting married.
The costs of uncoupling and running two separate households cannot be under-estimated. Given that a divorce generally involves doubling up on one of the family’s largest monthly expenses (being the rent or bond payments), it goes without saying that a
As a married couple, you will want to ensure that you are both adequately provided for in the event of death or disability, so take time beforehand to put the appropriate level of cover in place. If you or your
Many women find themselves trapped in unhappy and/or abusive relationships because they do not have the financial means to escape. As such, it is absolutely essential that every woman in a long-term relationship or marriage becomes actively involved in the
During the divorce process, remember that both you and your spouse retain full contractual freedom when determining a settlement. You can choose to strictly adhere to your matrimonial property regime for asset division or opt for a negotiated settlement tailored
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
If you have been awarded capital as part of your divorce settlement, you’ll likely want to take steps to protect and grow this capital. If you’re awarded a portion of your spouse’s pension interest, you have the option to withdraw
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.
