An antenuptial contract is an indispensable document that, under South African law, defines whether your marriage will exist in community of property or out of community of property, with or without the accrual system.
Michael Krawitz offers a full range of legal services relating to antenuptial contracts. Your antenuptial contract can either include or exclude the accrual system in terms of the Matrimonial Property Act. Michael Krawitz will advise you on the best option for you.
Marriage in community of property
Marriage in community of property has various serious legal consequences. For example, without an antenuptial contract, you are automatically married in community of property. As a result, you and your spouse are held responsible for each other’s debts, including those incurred before your marriage.
Antenuptial contract including the accrual system
Implementing the accrual system in your antenuptial contract allows you to exclude certain assets from your estate when your marriage ends.
Antenuptial contract excluding accrual
Excluding the accrual system as provided for in the Matrimonial Property Act in your antenuptial contract means both spouses continue to own their assets acquired individually before and after the marriage.
Before you say “I do”
For more legal advice and help setting up your antenuptial contract, get in touch with Michael Krawitz Attorneys today.