Your skin? Wedding Bells: A Simple Guide

Wedding Bells: A Simple Guide to your Intended Marriage

LEVEL 5 OF THE LOCKDOWN AND THE RELAXING OF REGULATIONS BEGINS TO SET THE BALL ROLLING FOR WEDDING SEASON IN DECEMBER...

This article provides a As the world is evolv- separation of estates before little peek at what the ing, we find both male and and during the marriage and options are for intended females building up their each party will attain their marriage partners to respective estates with a respective assets and liabiliconsider. South Africa has considerable amount of ties. This disallows for either three ways of getting mar- value and wanting to protect party to have a claim on the ried which are: or shield that value in tough other person’s assets. • In community of property times like divorce. All three marriage sys• Out of community of A marriage subject to the tems have pros and cons property including accrual accrual is where both parties and both parties should • Out of community of retain their respective assets discuss this to avoid misproperty excluding accrual before marriage but share understandings. One needs

South African law is the accrued wealth acquired to adopt a fair and equitable designed in such a way that during the marriage. In re- approach in marriage which parties are automatically cent times we find most par- can create the backdrop for married in community of ties leaning on this choice a harmonious marriage. property unless the parties as being the fairest form of My personal choice is a have decided to enter into an entering a marriage. The marriage out of community ante nuptial contract (ANC). term ‘accrual’ is used to de- of property excluding the In community if property note the net increase in the accrual system, as this simply means that the es- value of a spouse’s estate allows each party to control tates of both parties become since the date of marriage. In their personal estates durone joint estate and they other words, what was yours ing their marriage. It’s also equally share in the assets before the marriage remains an ideal solution for parties and liabilities of each party. yours, and what you have who are in business or seek

For decades we have earned during the marriage to venture into business. seen this form of marriage belongs to both of you. This can be the most benbecome the most popular The initial value of a eficial marriage for stable choice, as for some reason spouse’s estate must be de- and/or upcoming business parties felt that it was a clared either in the ANC or entrepreneurs. way of showing that they a separate statement made Whatever regime you loved each other enough not later than six months choose, marriage is deep to share the burdens and after the marriage, failing friendship set on fire and a benefits of the marriage. which the initial value will be beautiful union of everlasting This mind-set of deep deemed to be nil. precious moments with two ignorance can be to the The last property marital people who find LOVE... detriment of both parties regime is out of commu- By Ugeeta Pala, Attorney and Mediator as we have seen some nity of property without the at Ugeeta Pala & Associates, very acrimonious divorces. accrual. This is a complete 071096 5966, ugeeta@pala.co.za.