Getting Married?

Antenuptal Contract

If you have made the big decision to get married, you are quickly realizing that there are many decisions that need to be made. Other than the dress, wedding and reception, there is also a key legal decision that you should make with your fiancé – whether or not you need a antenuptial agreement. As your decision will affect your legal status, contractual freedom and risk profile it is important to carefully explore your matrimonial regime options before getting married. On this website you will find many informative articles to assist with your decision.Louwrens Koen Attorneys will gladly assist should you need to discuss your specific circumstances.

Louwrens Koen Attorneys
Tel: 087 0010 733
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Office 4, Second Floor, Northern Pavilion, Loftus Versveld, 416 Kirkness Street, Arcadia, Pretoria.

R1250 All inclusive Fee. Easy online application process.

 

Marriage out of Community of Property with application of the Accrual System

Out community of property' means that the parties involved entered into a contract, a written agreement Notarised by a Notary Public prior to the marriage in terms of which each spouse usually retains his or her separate property and have complete freedom to deal with that property as he or she chooses. If during the marriage, one spouse is declared insolvent, the others property is protected from the insolvent spouse's creditors, subject to Section 21 of the Insolvency Act.

Should you choose this option as your marital regime, you will have to decide whether the accrual system should be applied or not. Under both options of married out of community of property (with or without the accrual system), one spouse's creditors cannot hold the other spouse responsible for debt repayment, in direct contrast to the case where the parties are married in community of property.

The accrual system is applicable to all marriages out of community of property, unless the prospective spouses specifically exclude the accrual system in their contract. 'Accrual' means increase and the accrual system is a form of sharing the assets that are built up during the marriage.

The underlying philosophy in respect of the accrual system is that each party is entitled to take out the asset value that he or she brought into the marriage, and then share what they have built up together. It is however possible to draft the Antenuptial Contract in such a way that the parties share both their pre-marital and post-marital assets on a 50/50 basis, just as if they were married in community of property, but without incurring liability for each other’s debt.

Best suited for younger couples. Especially where one of the spouses has his/her own business.

Marriage out of Community of Property without application of the Accrual system.

Out community of property' means that the parties involved entered into a contract, a written agreement Notarised by a Notary Public prior to the marriage in terms of which each spouse usually retains his or her separate property and have complete freedom to deal with that property as he or she chooses. If during the marriage, one spouse is declared insolvent, the others property is protected from the insolvent spouse's creditors, subject to Section 21 of the Insolvency Act.

Should you choose this option as your marital regime, you will have to decide whether the accrual system should be applied or not. Under both options of married out of community of property (with or without the accrual system), one spouse's creditors cannot hold the other spouse responsible for debt repayment, in direct contrast to the case where the parties are married in community of property.

Without Accrual the parties specifically declare that the Accrual system as set out in the Matrimonial Property Act will not be applicable to their marriage and will specifically be excluded.

Each spouse retains his/her own assets and own accrual – no sharing unless Antenuptial contract compels donations or court orders transfer of assets.

In the case of death or divorce, a spouse is entitled only to those assets accrued in his/her name. Should one of the spouses stay at home to raise children, that partner would not be entitled to the assets accumulated by the other partner.

Practical for second marriages, marriages where the parties already have children , where both parties have already amassed a sizeable estate or in so called marriages of convenience it simplifies matters drastically.

 

Marriage in Community of Property

Marry without entering into Antenuptial Contract. Share in assets and liabilities before and after marriage.

If you do not enter into an Antenuptial Contract prior to your marriage, you will automatically be married in community of property in terms of South African Law. Both parties’ individual estates will be combined into one jointly owned estate by the marriage. This means that all per-marital assets, debt and liabilities are all pooled into one estate once the marriage is concluded, from which point onwards, only one jointly owned estate will exist. Both parties will be jointly liable for debt-repayment towards their combined creditors, irrespective whom incurred the debt. This means that if one of the parties behaves in a financial irresponsible way, the other party will also suffer because of it. Also the parties will be exposed to the business risks of the other party and will in practice not have freedom to trade.

'In community of property' means that everything each party had prior to the marriage, assets as well as liabilities, are pooled into one single jointly owned estate, once the parties marry. From this point onwards everything they earn or buy will also form part of this jointly owned estate. This also pertains to any debt or liabilities either one of them incur during the marriage. Should one spouse be reckless with his or her financial affairs, it will adversely affect the other spouse, as they are both totally liable for the debts of their jointly owned estate. As both parties are joint owners of all property in their jointly owned estate, both parties have equal rights of ownership and administration over all the assets.

Once married in community of property, there will be various transactions that require the consent of both parties. The most prejudicial consequence of marrying in community of property, is that assets in the joint estate will always be vulnerable to the claims of creditors of both spouses.

This marital regime is definitely not recommended for spouses running their own independent businesses as premarital and post-marital liabilities will become communal, thereby endangering the good standing of not just one, but both spouses.

Register Antenuptial Contract

Our Process - Get Started

Louwrens Koen Attorneys registers hundreds of antenuptial contracts every year. You have numerous ways to get started. If at any time during the process you have questions do not hesitate to contact with us. We pride ourselves in being very approachable. If you have questions or need to discuss your specific circumstances contact us. contact

Louwrens Koen Attorneys
Tel: 087 0010 733
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
Office 4, Second Floor, Northern Pavilion, Loftus Versveld, 416 Kirkness Street, Arcadia, Pretoria.

 

Submit Online

Click Here to apply online. Complete the online form as thoroughly as possible and submit. We will supply you with an pro forma contract within 24 hours. This document can be used as a discussion document and can be changed by us to suit your needs. Once satisfied sign the contract and return to us by hand, Postnet or Courier.

E-Mail Application

Send us an E-Mail setting out your specific needs, questions and requirements. We will supply you with information and pro forma contract within 24 hours. This document can be used as a discussion document and can be changed by us to suit your needs. Once satisfied sign the contract and return to us by hand, Postnet or Courier.

This email address is being protected from spambots. You need JavaScript enabled to view it.

Download PDF

Click Here to download PDF application for. Complete as thoroughly as possible. We will supply you with an pro forma contract within 24 hours. This document can be used as a discussion document and can be changed by us to suit your needs. Once satisfied sign the contract and return to us by hand, Postnet or Courier.

Pop in at our Office

Visit our office Louwrens Koen Attorneys, Office 4, Second Floor, Northern Pavilion, Loftus Versveld, 416 Kirkness Street, Arcadia, Pretoria 0002 to discuss your specific needs, requirements or questions. We pride ourselves in being very approachable and will take the time necessary to assist you to make an informed decision.

Why use Louwrens Koen Attorneys

Let’s build great things together

Louwrens Koen Attorneys have assisted thousands of couples over the years to register an Antentenuptial Contract. Being a long established provider of this specialised service in South-Africa shows our commitment to our clients. We believe this commitment has resulted in our longevity and success.

Ease of Use

Using our application processes is easy and convenient. Getting time of at work to sit in attorneys offices is difficult, especially if there is so many other things to arrange before the wedding.

Customer Friendly

We understand the decision and registration process can be confusing and stressful. We strive to be a process friendly company, clarifying uncertainties for you. If unsure ask and ask again. We will take time to assist you to decide and guide you through the process.

Experienced and cost effective

We have literally assisted thousands of clients over the years with their antenuptial contract registration needs at an affordable rate.

Dont expose your spouse to your debt or business risk!

Avoid Risk

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Trade Freedom

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Estate Planning

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Asset Protection

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How and when to breach the subject.

Handy hints to get you started.

Writer's firm promote their antenuptial contract services at various marriage expo's every year. I have gained vast experience as to the mindset of these thousands of couples. It is clear from the expressions of many, that they have not taken the time, to discuss this important subject. It is also very clear that there is misconception and antagonism about and against antenuptial contracts. As one lady eloquently stated “We love each other!. We don’t need it”. It was however very telling when this young lady’s mother came back later to collect a brochure. It is also saddening for writer when he consults with couples married in community of property to see the devastation caused, when they lose everything, due to not taking the time to plan and mitigate their risks.

We understand that to the to the bride and groom, marriage is a loving contract between two people, as it should be, who want to spend the rest of their lives together. In the eyes of the law and corporate business, marriage is also a contract between two people … not about love, but about a variety of financial rights, freedom to trade, exposure and obligations. Should you thus not elect yourself the Law will make the decision on your behalf. If you really care about your spouse you thus owe it to yourself and your spouse to take the time to explore your options. Discussing and agreeing on these matters will definately but your marriage on a more sound footing.

It’s hard to talk about marriage as if it were “business,” but when it comes to creating a prenuptial agreement, that’s exactly the approach you should take. A prenuptial agreement isn’t an exit strategy or evidence of a lack of faith in the relationship. It is simply legal protection against future risk you may be exposed to in future.

Do this well beforehand -

Don’t wait until a week before your wedding to discuss a prenuptial agreement with your intended. Explore the topic early in a relationship, if possible before you become engaged.

Don’t assume you are on the same page

People have all kinds of notions about antenuptial contracts from their own experiences and subjective view. Don’t assume that you and your spouse-to-be are on the same page with this topic; ask.

Use your head. Not your hart.

It’s tough to talk about your loving, committed relationship as if it were a business arrangement. If you and your intended can agree to be logical (rather than emotional) about the preparation of a antenuptial contract, you’ll find it much easier.

 Ask your Attorney

If your spouse-to-be is hesitant in any way, suggest that he/she consult with a legal professional to explore the benefits. You may find it valuable to consult with a legal professional to understand the different kinds of issues that might be covered in a antenuptial contract. The better informed you are, the easier it will be for you to explain things to your intended.

Whatever your decision may be. I implore you to at least take the time to consider your options. Also consider changing or amending your will and estate planning when getting married.