out of community of property
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.
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.
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.
Be sure that you are adequately protected against the risk of ill health or disability by putting appropriate disability and dread disease cover in place. If you enjoy group risk cover through your employment, be sure to understand what life
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
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.
