It begins with service, it stays about service
“Till death do us part….”
This is not just part of wedding vows.
An Antenuptial Contract is not usually considered to be part of the wedding preparations, and is more often than not stigmatised by many couples or their families because it’s usually associated with divorce.
But a marriage also ends on the death of one of the spouses.
If a couple marries in community of property, upon the death of one of them, the combined, joint, estate will be placed on hold and the combined, joint, estate must be disclosed to the Master’s office and must pay any debts.
However, if the parties are married out of community of property, whether with or without accrual, each party’s estate remains separate and upon the death of one of them, the survivor keeps his/her own whole estate and only the deceased’s estate is placed on hold and must be disclosed to the Master’s office. Debts of the deceased spouse do not accrue to the survivor. If the parties have chosen the accrual system then upon the death of one party, the nett value of their accumulated estates is divided equally between them. To give effect to this, the executor or an expert will calculate the increase in value of each party’s estate and the spouse with the smaller estate has a claim against the spouse with the larger estate.
So, as part of the preparations before your wedding, it’s advisable to sign an Antenuptial Contract as it may turn out to be the most important document that you ever sign.
Article by: G. Amore
For further information or assistance with Antenuptial Contracts, please contact Myers Attorneys on 011 346 2422 or reception@myersattorneys.co.za
You can also visit our website www.myersattorneys.co.za
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