Why consider Antenuptial Contracts?
- You Want to Protect Your Business.
- You are Marrying Someone with Significant Debt.
- You Wish to Protect Your Assets.
- You Want to Ensure Financial Security for Both Parties.
Do cohabitation agreements count as marriage?
No, it does not.
Can an antenuptial contract be amended?
Yes, but we recommend giving us a call regarding this question for more info.
What is an inter vivos trust?
Inter Vivos trusts are often recommended for saving estate duty, but there are other reasons, such as:
- To protect your assets from creditors/relationship claims.
- To provide continuity after death.
- To protect your assets if a beneficiary is a minor or disabled.
WHAT IS AN ANTENUPTIAL CONTRACT (ANC)?
It is a contract signed before a marriage is solemnized (formally entered into), but can be concluded after marriage, at a substantial cost. For the purposes of this summary we will focus solely on contracts entered into before marriage.
DOES THIS MEAN WE ARE PLANNING FOR DIVORCE?
No, in fact you are planning for a prosperous life together by preparing for all eventualities. The point of an antenuptial contract is to protect the household, not destroy it. It can protect your household from financial risk that may come as a result of you starting a business or entering into high risk contracts, through limiting the risk to one estate and not the joint estate.
The advantage of an Antenuptial Contract comes with the accrual system. Accrual is where you are married out of community of property (as a result of an ANC) but, everything that is gained during the life time of the marriage is equally shared. This is the same as community of property without the risk of community of property.