How Does an Antenuptial Contract Protect You?
Marriage is a major life event for any couple, and nobody enjoys the thought of their marriage ending in the future. However, the reality is that more and more marriages are ending in divorce, and those that last will inevitably end in death. No matter which of these you will end up facing, an ante nuptial contract provides protection for both you and your spouse.
Protection against Debts
By signing an ante nuptial contract and being married out of community of property, you and your spouse are identified as separate legal entities. This means that you both own your assets separately, protecting you from one another’s creditors.
This legal split in assets means that if your spouse accrues a large amount of debt through bad business or irresponsible behaviour, your assets are safe. Also, should your spouse pass away while still owing money, you will not be liable to pay off those debts (something that has saved many individuals in their time of grief).
A Financial Safeguard
While it is becoming far less popular today, there are still many married couples where only one partner is employed. In such cases, should the marriage be dissolved by divorce or death, an ante nuptial contract with accrual ensures that the difference of the assets built up during the marriage is shared.
This is far more amicable than the customary battles in divorces with partners married in community of property. What’s more, especially in the event that your spouse passes away, you are guaranteed your share of the accrued assets before the estate is touched by creditors. In this way you know you are protected financially should anything happen, and there won’t be a struggle.
Avoiding the Costs of Later Legal Fees
While many couples are realising the value of prenuptial agreements, this may have been something you didn’t think of or want before getting married. Since then, though, you’ve discovered how a prenuptial agreement actually protects the both of you and wish you’d opted for that.
The good news is that you can enter into a postnuptial contract. The only bad news is that these can be quite costly, as you have to apply to the court for this and go through a rather tough process. You are in luck, though, because Engelbrecht Attorneys offers the handling of postnuptial contracts as a service to our clients.
Contact us if you are looking for an attorney to handle your ante nuptial contract in Pretoria, or a stress-free way to register a postnuptial contract. We are here to make your life easier and to ensure that you are helped towards the best future possible.