Antenuptial Contracts in Durban (and South Africa) are one of the most important documents you will sign in your lifetime and failing to have one drafted can be a very expensive mistake as marriages in South Africa are automatically in community of property unless a valid antenuptial contract has been entered into before the marriage.
Many people labour under the false impression that by signing an antenuptial contract you are planning for a divorce by excluding your spouse from receiving a share in your estate. Though our expert attorneys can achieve this through the use of an antenuptial contract, there are more wide reaching benefits to having us draft your antenuptial contract, such as:
- If either party is declared insolvent, the other spouse is protected from the insolvent spouse’s creditors (if you are married without an antenuptial contract your spouse’s future or existing debts are yours too);
- An antenuptial contract can be drafted in such a way so as to cater for your unique and individual circumstance;
- The respective spouses will not be held liable for any debt that the other spouse might have incurred prior to the marriage;
- Spouses will not be held liable for any debt that the other spouse may incur during the marriage;
- Assets that, for sentimental or financial reasons, the spouses do not want to form part of a joint estate can remain separate;
- Spouses will not need to obtain each other’s consent when dealing with their own property;
- Antenuptial contracts remove the risk in regard to all the spouses combined assets, should one of the spouses undertake a business venture, allowing for the protection of assets from creditors;
- Each spouse is able to retain his or her individual financial identity;
At M. P. Lutge Incorporated’s head office in Durban, our founder, Malcolm Patrick Lutge, has developed, over the last three decades, an unrivaled reputation in the drafting of antinuptial contracts. By drawing on his vast experience we are able to assure you that you will receive an expertly drafted antenuptial contract.
Furthermore, as a result of practicing in the drafting of antenuptial contracts over the last thirty years, our firm has access to a network of legal specialists in antenuptial contracts throughout South Africa. This means that you can have access to our highly respected law firm’s expertise in antenuptial contracts from anywhere in country.
Though our professional team of attorneys is able to draft an antenuptial agreement tailor-made to your individual circumstances, generally they are a variation of these two types of antenuptial contract:
- antenuptial contracts without accrual – Each party has, and maintains, a completely separate estate;
- anteuptial contracts with accrual – Each spouse retains their own estate and may accumulate assets and incur liabilities without interference from or assistance of the other but, upon divorce, the increase in value of both estates are compared to find their difference. Thereafter, the party whose estate increases in value the most pays half of the difference to the party with the smaller increase in the value to their estate;
Contact M. P. Lutge Incorporated, whether you live in Durban or elsewhere, and ensure that you receive the benefits of a professional and expertly drafted Antenuptial Contract.