There are 3 options available when getting married:

1. Getting married in community of property and the 2 estates join as one including debt and assets.  No registration for an agreement is necessary.

2. Married out of community of property without the accrual system.

3. Married out of community of property - with the accrual system

 Ante Nuptial agreement or without? That is a personal decision and there is no right or wrong option and one is not better than the other. Each option has its pros and cons.  Each couple will have to have a proper discussion with their attorney and understand what each option will provide and what will be most suitable in their own circumstances.  The option will depend on a couple’s priorities, preferences and current or possible future plans regarding finances or business ventures.

Most people these days get married when they are a bit older and naturally most of them, men and woman have their own well established careers and independent economic lives before getting married.  In most of these cases both parties may own property or other assets already.

Marrying out of community of property and drafting a proper Ante Nuptial agreement before getting married is utilised as an estate planning tool and regulating financial consequences of marriage.  No one knows what the future brings and one or both parties that already have well established careers want to take a risk with a new business venture, but the fear of causing their estate to be at risk, can keep him or her from following their dream.

Referring to option 2 above is the simplest marital agreement and has the result that all assets and debts of spouses remain separate.

Option 3 – with the accrual, results in the spouses’ estates join at date of marriage and share in the growth of the estate.

Take note that any Ante Nuptial agreement allows the husband and wife to tailor-make their very own matrimonial property regime by including provisions they prefer and to have each party at ease and in agreement with what they are signing BUT take note that the provisions should not be against any law, of good morals or not against what is the nature of marriage.

Make sure what your rights are and understand all options available to your specific relationship before you get married to assure the Ante Nuptial agreement drafted represent your individual best interests when drafting the agreement.

IF you want to change your marital regime after date of marriage it has to be done by way of a High Court application which is a costly process.

Reference:

Maritrimonial  Property Act 88 of 1984 (as amended)