Antenuptial Contracts

LOL, I don't even know what your statement means.

But the OP did not mention divorce. He said:

s 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 ?

You replied:

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).

And I stated that this is not correct, and I gave a reason therefore. That is not a blanket statement, it is a fact.
 
bokka1 said:
LOL, I don't even know what your statement means.

But the OP did not mention divorce. He said:

s 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 ?

You replied:

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).

And I stated that this is not correct, and I gave a reason therefore. That is not a blanket statement, it is a fact.
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He said during the marriage (not whilst married), implying a termination - either divorce or death.


So you need your spouses permission to open an account when married ANC?
 
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No, you do not need your spouse's consent with an ANC.

He said during the marriage (not whilst married), implying a termination - either divorce or death.
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What is the difference between "during the marriage" and "whilst married"? Both those statements are clear and it does definitely not imply a termination.
 
Celine said:
why do people get married with ANC contract? unless you have a business worth millions what's the point. when you get married things should be shared equally.
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The reason I got one when I got married is this: the contract protects both people in the marriage, not only at time of divorce, which is what most people think of when talking about the contract.

In my case, both my wife and I have a certain amount of assets listed. With the contract in place, if I make a dodgy business decision and go bankrupt, people to whom I owe money will not have access to her assets. As she owns a flat, even if I am forced to sell our house, we will still have a place to live.

The separation of assets is a very good thing.
 
scudsucker said:
The reason I got one when I got married is this: the contract protects both people in the marriage, not only at time of divorce, which is what most people think of when talking about the contract.

In my case, both my wife and I have a certain amount of assets listed. With the contract in place, if I make a dodgy business decision and go bankrupt, people to whom I owe money will not have access to her assets. As she owns a flat, even if I am forced to sell our house, we will still have a place to live.

The separation of assets is a very good thing.
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Insolvency is a total different kettle of fish.

Not to go into much detail but at an insolvency the curator will take control of both spouses' assets, irrespective of the matrimonial system applicable to their marriage, and the "innocent" party will have to prove that his/her assets were acquired with their own funds.
 
bokka1 said:
Insolvency is a total different kettle of fish.

Not to go into much detail but at an insolvency the curator will take control of both spouses' assets, irrespective of the matrimonial system applicable to their marriage, and the "innocent" party will have to prove that his/her assets were acquired with their own funds.
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I realise this, but the statements made of assets in the ANC will assist with this proof.
 
scudsucker said:
I realise this, but the statements made of assets in the ANC will assist with this proof.
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That is correct.

Not part of the insolvency matter but another way to do the accrual system is where you exclude certain assets from the accrual.

Example: You own shares in a family business and you get married with the accrual. At termination of the marriage your spouse will be able to claim the growth of the shares as part of the accrual. To prevent this you can exclude the shares from the accrual and thus protect it from your spouse. This is done specifically in the ANC.
 
Hi

Can anyone recommend a lawyer in Jhb that gets things done and won't cost an arm and a leg
 
UKTrip1 said:
Hi

Can anyone recommend a lawyer in Jhb that gets things done and won't cost an arm and a leg
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Not Joburg per se, but EasyANC. Courier in your documents, everything happens remotely. They are good.
 
3WA said:
Not Joburg per se, but EasyANC. Courier in your documents, everything happens remotely. They are good.
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Damn, how times have changed, I remembered we had to go in to a chambers and have it notarized as well. ( 2005 )
 
Kosmik said:
Damn, how times have changed, I remembered we had to go in to a chambers and have it notarized as well. ( 2005 )
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It does have to be notarised. With EasyANC, you give some dude power of attorney and they sort it out (I think).
 
Just a side note, with the whole prior discussion around why, besides the fact of debt separation and the ability to handle accounts, having recently helped parents/spouses of deceased partners, its a huge help there too as a community marriage locks the accounts.

Its not all about divorce ( 17 years and still going ).
 
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