ESTATE OF WOMAN

 

ESTATE OF MAN

 

ESTATE OF WOMAN

 

ESTATE OF MAN

marriage out of community of property, without the accrual system

 

Each party keep his own before and after marriage in this type of marriage. You have to conclude a contract prior to your marriage to keep your own (otherwise half is his!). The contract is referred to as an ante (prior) nuptial nuptial (marital) contract. The Matrimonial Property Act, 88 of 1984 governs these contracts. In the prior marriage contract, you must specifically exclude the accrual system (half will be his at divorce or death), otherwise it will be applicable. An attorney should draft this ante nuptial contract and must be signed in the presence of a Notary Public (an officer who can certify that she has identified the couple and that the contract contains their wishes) before the marriage.

 

When you conclude a marriage out of community of property (yours in yours and hers is hers), without the accrual system (now he will never get anything), the estates (everything you have) of the parties stay separate after conclusion of the marriage. In practice this means that any assets owned by either of the parties before conclusion of the marriage, stays their property, thereafter. Each party has equal rights to deal with its assets and liabilities as it wishes (thus without requiring the permission of the other party). Married couples do however owe a duty towards each other and are legally obliged to offer financial support to a partner who is unable to support him/herself. Both are expected to contribute to household necessities and the expense of rearing children on a pro rata basis according to their means.

 

BEFORE MARRIAGE

 

 

ESTATE OF WOMAN

 

 

 

 

ESTATE OF WOMAN

 

ESTATE OF WOMAN

 

AFTER MARRIAGE

 

 

ESTATE OF WOMAN

 

 

ESTATE OF WOMAN

 

 

One of the advantages of letting him keep his stuff is that if he is involved in adventurous business ventures and his estate is sequestrated, your estate cannot be touched by creditors. He can buy assets in your name and it will be yours. However, the disadvantage is, that the estate of one party can grow tremendously whereas the estate of the other party will show a small growth and this party does not have any claims to the bigger estate. Don't let him, keep it balanced!

 

In the event of death or divorce, each party is entitled only to the assets that he or she brought into the marriage or gathered in his or her name during the marriage. This means that if the woman chooses to stay at home to raise the children and no longer accumulates assets of her own then she would not be entitled to the assets accumulated by the male should there be a divorce, and vice versa. If the husband dies, the wife has no claim against his or her estate.

 

This form of marriage regime can be recommended: