Be practical. If there is a significant gap between the property or property between spouses, a marriage contract can protect that property in the event of divorce or abrupt departure If a spouse has children from another relationship, this agreement can ensure that his or her separated preconsal property is only shared with his or her children if that spouse dies. Couples can use marriage contracts to work together to make concrete future financial plans and decide how to invest, save or spend their money. If you or your spouse have a dwelling (separate or shared), you can indicate in a marriage contract how the property is to be affected. You can decide whether the property should be separated or shared. The advantages and disadvantages of marriage contracts can vary from case to case. You don`t feel that the Prenup is right. They should never be forced to sign a prenup. If you feel that a marriage contract is strongly in favor of one spouse over the other, do not sign. Always make sure that a lawyer has checked the agreement before giving your consent.
If you and your spouse agree with the standard divorce law of your country, it would be useless to create a marriage contract. 3.3 The fact that all property not explicitly listed in Schedules A and B is allocated by agreement between the parties at the time of separation, divorce or annulment, and that in the absence of agreement between the parties, the case is decided by an arbitrator in accordance with clause 11. The Matrimonial Property Act 88 of 1984 introduced the „Accrual“ system, which allows for a form of partition compatible with a primary purpose of marriage, but allows for the maintenance of each party`s independence from the treaty and the ability to retain its own unique separate remittances. „Accrual“ means increase. The provisioning system is a form of splitting of assets accumulated during marriage. The underlying philosophy of the provisioning system is that each party has the right to withdraw the asset he or she brought to the marriage, and then they share what they have built together. The property of one spouse cannot be sold to pay the creditors of the other if the other becomes insolvent, unlike in the case where the parties are married in a community of property. It is of the utmost importance that a party who wishes to conclude a pre-contract fully understands what he is signing. For this reason, it is not possible to use a standard contract that does not allow consultations to be carried out by phone or e-mail, and unfortunately. The essential characteristics of a marriage in accordance with the imputation are essentially the following: each party retains its own succession.
Each party can accumulate assets and make commitments without interference or support from the other spouse. The succession of each party may be determined separately. The monetary value of the smallest estate is deducted from the monetary value of the largest estate, the difference is distributed, and the party with the largest estate pays half of the difference between the two remittances to the party with the smaller reduction. In the event of the dissolution of the marriage, the estate of each party is calculated by listing all assets, listing all liabilities, subtracting liabilities from assets and obtaining a net asset value. In practice, this boils down to a division similar to that of a marriage into a community of property. . . .