Marriage In Community Of Property
When you marry in South Africa, if you decide not to conclude an antenuptial contract before you marry, you are automatically married in community of property.
A number of important legal consequences flow from a marriage in community of property.
Firstly, the husband and wife no longer own their assets individually. All of their assets, whether they acquired them before or after the marriage become jointly owner in a joint estate.
Secondly, the husband and wife become liable for each other debts, even debts incurred before the marriage, including debts they didn’t know about.
It is clear that marriage in community of property is not the ideal marital system for most people.
To avoid these undesirable negative consequences of a marriage in community of property, at Simpson Incorporated we can assist you with the registration of an antenuptial contract to protect your assets and financial security.
Marriage also has other legal consequences, including estate planning. We can also assist you will the drafting and execution of a will at an affordable rate.
We look forward to being of assistance to you.