blunomore
Honorary Master
Actually, we should be asking her that. Why didn't she?
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Antenuptial Contracts
- Thread starter WR10
- Start date
Actually, we should be asking her that. Why didn't she?
blunomore
Honorary Master
People will never agree on the married in or out of COP debate. To each his own.
This is not a legal argument at all, but just me wondering: If people's assets matter so much to them and they would be willing to fight to protect it during a divorce, why were they willing to share it with someone to begin with?
If anyone was to say to me any contract I had previously entered into with one name was invalidated simply by my changing my name I'd laugh.
Think about how easy it would be to abuse that system if it ever existed.
SauRoNZA
Honorary Master
It's just a "what if" safety net.
But I agree with you with regards to having an ANC without accrual because then you aren't ever really sharing anything and it seems somewhat pointless to get married in the first place. But that's my opinion and many other people have theirs.
Others frown upon the concept of having a shared bank account, while others can't live without it again.
PM me, I will help you.
It is a very easy to amend an error in a deed.
If the original contract is missing then you just apply for a lost copy and simultaneously with that you apply for the amendment.
It should not cost you more than R1000.00, even less if you still have the originally registered contract.
also, lets assume Mr Celine has a lot of debt, maybe he is starting a business, who knows. Now one day Mr Celine gets eaten by a filthy hobo on his way to work. Your marriage in community of property means that you are now the proud owner of said large debt!
It is also beneficial when it comes to taxation. You can register assets in your partners name, etc.
It is not all about thinking about divorce.
It is also beneficial when it comes to taxation. You can register assets in your partners name, etc.
It is not all about thinking about divorce.
WR10
Active Member
is an ANC with accruel, basically you go into the marriage with what you have as your own
and whatever you get during the marriage is seen as ours ?
I am at the office this morning so try to phone me again.
The accrual system only comes into play once the marriage dissolves either by divorce or death. It is the basis on which the estate is divided between the parties. During the course of the marriage there is no difference between with or without accrual, you are married out of community of property and your assets stays your assets.
The accrual system only comes into play once the marriage dissolves either by divorce or death. It is the basis on which the estate is divided between the parties. During the course of the marriage there is no difference between with or without accrual, you are married out of community of property and your assets stays your assets.
ICOP you can't even open an Edgar's account without the permission, and signature, of your spouse.
Yup, 50/50 after you put a ring on it. This is by far the best option, it shows your commitment but legally protects you from your spouses creditors and provides financial freedom (you can open that Edgar's account without a cosignatory).
In the case of debt collection, what portion of the acquired joint assets remain liable for repossession? A stay at home mom with minimal initial assets could lose everything should her husband find himself in a pile of debt.
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There is no difference between with or without accrual during the course of the marriage. You still keep separate estates. As said, the difference between the two systems only comes into play if the marriage is terminated. It is used to divide the estate between the two parties.
So in short the wife's assets can't be repossessed for her husband's debt. Her assets will only be repossessed if they are married in community of property.
Nope, that is not right, see my answer above.
So you agree that a wife who does not work after marriage will be left destitute if her husband's debtors come knocking, due to the fact that she paid for none of the assets?
So you don't get 50% of the accrual after a divorce, you are responsible for your husband's debt and you require someone to co-sign for your accounts?
If she does not have any assets of her own then she will be left destitute. That has nothing to do with the accrual system. She only get rights over his assets once the marriage is terminated by divorce or death. During the course of the marriage she has no rights over his assets.
No, the accrual system is purely a monetary system. You look at nett values and thus the value of the estate is only determined once all debts are deducted. So if your debts are higher than your assets then your estate would have accrued by R0.00.
People have this fallacy that the accrual system works like being married in community of property but this is not the case.
DigitalSoldier
Honorary Master
ANC with accrual.
There are lots of reasons for example:
If you are married in community of property both husband and wife must be present to sign all contracts even clothing accounts etc..
On topic.
I got married in April 2013 and we paid R2,500.00 for the contract.
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No, you said:
Yup, 50/50 after you put a ring on it.
It is not 50/50 after you put a ring on it. The 50/50 principal only comes into play once you take the ring off, and then it is not 50/50 either.
The nett accrual is only split between parties.
Your second question regarding repossession infers that the wife gets a right immediately on her husband's assets that he acquires during the course of the marriage which is not correct. As above, she only gets some type of right once the marriage is dissolved.
The accrual system is an inter partes agreement and not enforceable against third parties. The only part of the contract that is enforceable against third parties is the out of community part.
Ja, no not at all. The comment was in reference to the quoted post, with the implication of divorce. Furthermore you blanket oppose all statements. You'd make a terrible attorney.