Fiona Ayerst Attorneys Inc.

The Smart Guide to Antenuptial Contracts

why is a contract necessary?

You are so wrapped up in the excitement of planning your wedding and a beautiful future together! We assume that legal matters such as ante nuptial contracts may not be your top priority. You may be reluctant to discuss this issue with each other for fear of spoiling the air of romance and love BUT it is the best interests of both of you to discuss the issue in time to ensure a simple collective financial future that is agreeable to both of you. Your ANC simply clarifies, formalises and gives legal force to your intentions.

when should we start?

We would like to have your ANC registered with the deeds office in Pretoria before your wedding so you should try to see us at least a month before hand. However if you have a large or complex financial background then we may need at least three months to collect information and draft your contract.

what should be in our contract?

Both of you need to agree on how you would like to run your financial affairs after the wedding and whether or not you wish to share in each other's assets and liabilities and to what extent. Briefly, there are two possible scenarios:

a. Out of community of property with application of accrual: in simple terms, through the marriage you keep your own separate assets and liabilities. Should the marriage breakup the party whose estate has grown by the least amount since the wedding date, will be allocated one half of the difference in growth between the two estates, from the estate of the other party.

b. Out of community of property without the application of the accrual system that means, you each keep your own separate estates and you do not have rights to any part of the others estate at the dissolution of your marriage.

what happens if we do not enter into a contract?

You will be married automatically in community of property thus having one shared estate. You will share in each other's assets as well as each other's liabilities. A creditor who has a claim against both or either of you can recover against both or either one of you as they choose.
And don't forget.........................!

What should I bring to your office to enable you to draft my ANC?

A copy of your identity documents and passports (if you have)
Specific details of any movable or immovable property you wish to leave out of the joint estate. Documentation helps if you have it.

Approximate costs?

As at August 2003 a simple and straightforward ANC will cost you approximately R 1000 inclusive of notary public fees and State duties. The more complex your ANC the higher the fee will of necessity be and we will normally charge you on our hourly rate! But this will be discussed with you before your ANC' is drafted.