An antenuptial contract is one of the most important contracts that a person will enter into during his / her lifetime. It regulates, in terms of South African law, whether a marriage will be one in community of property or out of community of property with, or without the application of the accrual system. It therefore determines your marital property regime and the proprietary (financial) consequences of your marriage. For this reason, the antenuptial contract is often referred to as the foundation of any couple’s financial planning (after marriage).
An antenuptial contract drafted in accordance with you and your spouse’s needs will benefit you in a number of ways, the following being some practical examples:
- Foremost, it prevents the intended marriage from being one in community of property with all the associated problems.
- It serves to record the rights, duties and consequences of the marriage, which in turn serve to create transparency and trust between spouses.
- It provides legal certainty to couples getting married outside their country of normal domicile.
- The contract is one of the basic elements towards achieving and sustaining effective estate planning strategies for your future and the future of your descendants.
Schoeman Attorney, Conveyancer and Notary Public realise how important drafting and executing an antenuptial contract really is. Therefore, we strive to serve both spouses’ present and long term needs by offering sound legal advice that integrates the provisions of their contract with effective long term estate planning strategies.