antenuptial contract
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
To ensure that your creditors are notified of your intention to amend your marriage contract, you will be required to publish a notice to creditors in two local newspapers (one English and one Afrikaans) as well as in a government
In a community of property marriage, all debt incurred by the spouses before and during the marriage forms part of the common estate, including maintenance obligations to a previous spouse or children from a previous relationship.
The general principle of the accrual system is that each spouse is entitled to take out the asset value that he/she brought into the marriage, and whatever is built together during the subsistence of the marriage is shared equally. So,
If the primary residence is owned by the first-dying spouse, the surviving spouse may find herself without accommodation if the deceased bequeaths the property to a third party. Joint financial planning is very difficult where a couple is married without
A marriage with the accrual system is widely regarded as the most equitable marital regime for a number of good reasons. Set up in terms of an ante-nuptial contract – which is a contract intended to set out the financial
An application for interim maintenance can be brought quickly and cost-effectively so as to provide a spouse with financial relief pending the finalisation of the divorce. The spouse bringing the application must provide proof that she does not have sufficient
Your parenting plan sets out the details relating to care, contact and financial contributions towards the children, when and with whom the children will live, and where they will be schooled, amongst other things. The financial implications in terms of
In a marriage that excludes the accrual system, a spouse who chooses to stay at home to raise children is at an economic disadvantage because she does not have the same opportunity to create wealth as her income-generation spouse does.
Your accrual contract continues to apply after the death of the first dying spouse, at which point the accrual will come into account. The executor of the first dying spouse’s deceased estate will need to calculate the increase in the
