Understanding the Benefits of an Antenuptial Contract (ANC)

Secure Your Financial Future and Protect Your Assets Before Marriage.

In South Africa, if you marry without an Antenuptial Contract, default is marriage in community of property, combining assets and liabilities.

What does this mean to be married in community of property ?

When spouses marry in community of property, they merge into a single estate. This includes all assets and debts acquired before and during the marriage, making both equally responsible for debts. Consent from one spouse may be required for significant transactions. Upon dissolution through death or divorce, the estate is typically divided equally between the spouses, regardless of individual contributions or circumstances.

So what are my options ?

If you and your spouse enter into an Antenuptial Contract before your marriage is solemnised, you will not be subject to the default position. There are 2 other options (both adjustable in some sense) 1. Out of community of property without the accrual or 2. Out of community of property with the accrual.

These options are legally binding against third parties only if you signed an Antenuptial Contract before your marriage. This contract must be executed by a Notary Public, a specialized attorney. It's essential to consult with a Notary Public for proper execution of this contract.

At Mokgehle Mohlala, we begin with a comprehensive consultation with the spouses, thoroughly exploring all available options, discussing their respective advantages, disadvantages, and suitability. Following this, we meticulously draft the Antenuptial Contract tailored to their preferences and requirements. The spouses revisit our offices to sign the contract before a qualified Notary. We then oversee the timely registration of the contract, ensuring peace of mind and preemptively averting potential future complications.

Where do i sign and how ?

1 - First consultation > 2 months before your wedding.

2 - Signing of the contract > 1 month before your wedding.

3 - Registration of the contract > within 3 months from the date of signing.

Disclaimer: The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.