Legalities

The Legalities

Most of the world is shaped around the idea of a nation state, so beyond religious ceremonies is the need for legal agreements. These protect the individuals in the marriage, should there be calls for a separation of property later. It is important that you and your spouse-to-be decide which form of marital contract you wish to enter into.

Here are the three options:

In community of property
No ante-nuptial contract is required. The two respective estates become one as at the date of the marriage. E.g. If one spouse owned a house prior to the date of marriage, the other automatically becomes co-owner and is entitled to 50% of the value thereof upon death or divorce.

Out of community Property
An ante-nuptial contract is required. Both spouses remain owners of their respective estates. Upon death or divorce each party retains what is theirs, unless a court of law orders otherwise. When in business, this is a good option.

Accrual System
An ante-nuptial contract is required. Both spouses remain owners of their respective estates. However, upon death or divorce, the estates acquired during the marriage, are divided equally.