Execute and Register your Ante-nuptial or Prenuptial Contract
Marriage is a big step for any two people to take. It is the start of a life together. Getting married is further a legal act where the law affords a married couple with certain rights and responsibilities. For example, the couple has a legal obligation to maintain each other. They may further not marry anyone else whilst so married. And of course, where this article comes into play, married spouses, unless they entered into an ante-nuptial, or prenuptial contract, have a joint estate. In short, there is no longer two separate estates, but one estate, belonging to both of them, in undivided shares.
Ante-nuptial or Prenuptial Contract
An Ante-nuptial or Prenuptial Contract is a legal contract, entered into between you and your intended spouse, outlining the matrimonial property regime, and any property or assets to be included or excluded therein. It is drafted and then executed before a Notary Public. The Notary Public would then register it. Remember, it must be executed before you get married. If you do not do it before you get married, you would be married in community of property. The only way to change that would be to approach the High Court for consent to change it. That can be very expensive.
Out of Community of Property
Now let’s say, you and your intended spouse do not want to have one estate, but continue having your own estates while you are so married. This would be useful if you are a business person. Should things go bad for one spouse, then only that estate would be affected. For example, in the case of insolvency, the creditor would only be able to sequestrate your personal estate and not the other. And if things go well, and you get hold of some wealth, the wealth would only belong to you and not your spouse. Should you divorce your spouse, then you walk away with only that what you own. For the latter scenario to apply, your should get married Out of Community of Property with the exclusion of the accrual regime . And for that, you need to enter into an antenuptial, or prenuptial contract with your spouse before your get married.
Now let’s say you want to have two separate estates during your marriage. But should you die, or get divorced, you want to benefit from your spouse’s estate. In other words, you want to get half the difference between the two estates. If you want this to apply at divorce or death, then you need to enter into an ante-nuptial contract before you get married stipulating that your marriage should be out of community of property and loss, with the inclusion of the accrual regime.
Ante-nuptial or Prenuptial Contract Registration
If you are getting married, and require advice on your intended matrimonial property regime, or want to execute an ante-nuptial or prenuptial contract – we can be of assistance. We would provide you with professional legal advice and services. Please go ahead and click on this link, Register my Ante-nuptial Contract to get you started. We are looking forward to hearing from you.
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