I’m getting married – what are my property rights?

[BusinessTech]

I’m getting married – what are my property rights?

The contractual side of tying the knot may not be particularly romantic, but it can have far-reaching effects on your future, and should definitely be a part of your discussions before you say “I do”.

 

[OCP]

Please note that if married out of community with acrual and one of the spouses passes away - the other needs to pay for transfer (and if applicable - bond registration) fees.
The value of the house portion owned by the spouse is added to the estate, which may mean you might need to pay tax on it (if over 3m but i might be wrong)

 

[gimpex]

Just go for out of community , without accrual. Everything else can be negotiated later but this gives u best starting ground.

 

[Sting]

What's hers is hers and what's yours is hers.

Simple.

 

[SauRoNZA]

Just go for out of community , without accrual. Everything else can be negotiated later but this gives u best starting ground.

That implies living separate lives into Eternity.

The whole point is starting a life together, but safeguarding the life you had before.

Thus with accrual.

 

[OCP]

That implies living separate lives into Eternity.

The whole point is starting a life together, but safeguarding the life you had before.

Thus with accrual.

+1

Also think in terms of exposure.
If one or both have business interests - there is also business risk....

 

[requiem]

Form a trust, make you and your wife trustees.

If either dies the other has control of everything....

Or if you are a scrooge.

Make yourself the trustee and your wife a beneficiary.

 

[SauRoNZA]

+1

Also think in terms of exposure.
If one or both have business interests - there is also business risk....

I think thats fine with or without accrual.

Not so okay in community of property.

 

[gimpex]

That implies living separate lives into Eternity.

The whole point is starting a life together, but safeguarding the life you had before.

Thus with accrual.

Not at all. Do the joint bank accounts and live like u r together for eternity. That's a given but if things should ever go wrong this offers you most protection of your assets.

With accrual assumes you split 50/50 everything u accumulate during marriage. If your business takes off ( or hers ) or any other eventuality why should the other partner get half just cause they married ?

 

[SauRoNZA]

Not at all. Do the joint bank accounts and live like u r together for eternity. That's a given but if things should ever go wrong this offers you most protection of your assets.

With accrual assumes you split 50/50 everything u accumulate during marriage. If your business takes off ( or hers ) or any other eventuality why should the other partner get half just cause they married ?

Well the assumption is that you worked together at that business or businesses in a "team" fashion.

See you marriage as a business in and if itself.

That's my take on it at least. Everyone is different.

If I started a business now it would require my wife's support to me successful. Even if she did nothing in the business itself.

 

[KillerBOB]

Well the assumption is that you worked together at that business or businesses in a "team" fashion.

See you marriage as a business in and if itself.

That's my take on it at least. Everyone is different.

If I started a business now it would require my wife's support to me successful. Even if she did nothing in the business itself.

That's cute.

 

[SauRoNZA]

That's cute.

I'm glad you think so.

I run my marriage like a business and it works.

If I had to start a proper business of my own it would work the same.

Point I was getting at is that anyone stupid enough to want to do community of property should simply settle for ANC with Accrual. No need to specify anything else.

Comes down to the same thing, without the issues.

 

[EMAM]

What's hers is hers and what's yours is hers.

Simple.

That's how I did it........SCORE

 

[bokka1]

Please note that if married out of community with acrual and one of the spouses passes away - the other needs to pay for transfer (and if applicable - bond registration) fees.
The value of the house portion owned by the spouse is added to the estate, which may mean you might need to pay tax on it (if over 3m but i might be wrong)

That is completely wrong.

You don't pay any Transfer Duties on inheritances irrespective of your matrimonial system.

You will always pay transfer fees to a conveyancer for the transfer of any share in terms of an inheritance. The attorney needs to get paid for his services rendered.

 

[freddster]

YOU POOR FOOL

 

[OCP]

That is completely wrong.

You don't pay any Transfer Duties on inheritances irrespective of your matrimonial system.

You will always pay transfer fees to a conveyancer for the transfer of any share in terms of an inheritance. The attorney needs to get paid for his services rendered.

Thanks - that is what I meant.

 

[anonymous815]

Not at all. Do the joint bank accounts and live like u r together for eternity. That's a given but if things should ever go wrong this offers you most protection of your assets.

With accrual assumes you split 50/50 everything u accumulate during marriage. If your business takes off ( or hers ) or any other eventuality why should the other partner get half just cause they married ?

The notary we spoke to used a great example:

If you decide that one of you want to be a stay at home parent or reduce working hours to raise the kid, the other will other obviously has to work and retains all the financial benefit if ANC without accrual.

Like some others said before me, team work is the key point here. Without accrual, the stay at home parent has a lot more financial risk should love not last an eternity. The fairness is up to you to decide.

 

[gimpex]

The notary we spoke to used a great example:

If you decide that one of you want to be a stay at home parent or reduce working hours to raise the kid, the other will other obviously has to work and retains all the financial benefit if ANC without accrual.

Like some others said before me, team work is the key point here. Without accrual, the stay at home parent has a lot more financial risk should love not last an eternity. The fairness is up to you to decide.

Not really. You are right in theory but in practise courts do take the fact that one stays at home into account. So the stay at home partner will not land up with nothing. In fact it can be questioned as to why the without accrual system exists given the court rulings.....

 

[anonymous815]

Not really. You are right in theory but in practise courts do take the fact that one stays at home into account. So the stay at home partner will not land up with nothing. In fact it can be questioned as to why the without accrual system exists given the court rulings.....

Good to know! Hopefully won't ever need to know..