Understanding the importance of antenuptial contracts in SA

WITH nearly 60% of South African marriages ending in divorce, it is important to have a contract in place which governs how your assets are handled, because without it, you can be saddled with your partner's debt.

- ZELDA VENTER

Many people don't realise that unless an antenuptial contract (ANC) is signed before the wedding, they are automatically married in community of property, meaning a joint estate. In practice, it means that one partner's debts or liabilities can legally impact the other, whether it is business failure, personal debt.

Its a shared burden, even if only one person was involved, Divorce Solutions, a Cape Town-based advisory company warned.

“No one wants to plan for divorce when they're planning their wedding, but with the divorce rate, we owe it to ourselves and to our future families to understand the implications and choose wisely upfront,” attorney and Divorce Solutions CEO Cynthia Blow said.