In a diverse and vibrant country like South Africa there are numerous forms of relationships and couples can enter in to a variety of unions such as, customary marriages, religious marriages, civil unions, same-sex marriages or domestic partnerships which include cohabitation.
Different Marital Regimes in South Africa in a nutshell:
Both have economic equality within the marriage and share in each other’s wealth equally and undivided. Based on the wealth existing at the date of marriage and accumulated after the date of marriage.
Cons of A:
No Protection against the onset of insolvency of any one of the spouses And contracting capacity is restricted.
Protection against the onset of insolvency of any one of the spouses, equal sharing of profits and losses made during the marriage, excluding sharing in the estate which existed on the date of marriage. The contracting capacity has no restrictions.
Cons of B:
Both spouses have to do more accounting and keep records of their financial transactions.
Protection against the onset of insolvency of any one of the spouses
and the contracting capacity has no restrictions.
Cons of C:
No sharing in each other’s wealth, to the disadvantage of the spouse with the lesser financial income.
All though the above is only a basic breakdown of Antenuptial Contracts available, we suggest an appointment with our highly qualified team to ensure a personal, tailor made contract that will ensure a marriage free from any ambiguity. We also offer a free Will with all our Antenuptial contracts, not sure what a will entails? We will break it down for you…
WHY DO YOU NEED A WILLAs human beings, we acquire property and other assets throughout our life and with the use of a Will, these properties and other assets can be divided between our loved ones after our passing.
It is important to have a will so that you can decide who the beneficiaries and the executor of your Estate should be when you die. A Will also allows you to appoint a guardian of your choice to take care of your minor children when you die.
If you die without a Will, your estate which will consist of all your property, monies and other assets, will be distributed in terms of the Intestate Succession which means that it will go to beneficiaries whom you may not have wished to benefit and exclude the people whom you would have liked to benefit. A Tutor or Curator will also be appointed to take care of the property of your minor children and the monies will go to the Guardians Fund. A different Guardian than whom you might have wanted to take care of your minor children might also be appointed
Authentication of DocumentsIn terms of South African Law, any document signed outside the Republic of South Africa, needs to be authenticated (the signatories signature needs to be verified) for the document to be accepted and utilized in South Africa. You require a notary to authenticate these documents, with which H&M can assist.
DECEASED ESTATESOne cannot deal with any property and assets until the Estate of the deceased has been reported to the Master of the High Court. You will find the important information and relevant forms on the website of the Master of the High Court.
The H&M Team is always ready and available to assist with any queries regarding Antenuptial Contracts, Wills and Deceased Estates.