Wedding Day Advice | Wedding Planning

Far removed from the fussing over frivolous wedding details that have turned you into an obsessive-compulsive (but endearing) mess, these documents can seem cold, hostile, intimidating… bordering on rude. We agree, and we understand how you feel.

Think about it this way, though: Nobody wants to think about death, yet most people still have life insurance, right?

Similarly, you need to sort this issue out; the hard fact is that the divorce rate in South Africa is alarmingly high – and climbing, it makes sense to sign an antenuptial contract. Whilst we’re sure that you’ll make it through to the end, we know that you know that you should get this done. Just in case.

Here are our top three reasons to sign a prenup:

1. What’s mine is mine

It’s okay to be possessive in this case. Don’t feel bad. An Antenuptial Agreement is the only way to make sure that you retain total ownership of your sentimental or valuable items.

When married under the risky in community of property regime, all your assets – those accumulated both prior to and during your marriage – are added to the pot, and are divvied up equally should the marriage end (yes, even those three lovely ducks that Auntie Beryl gave you for your living room wall). Your lawyer will ask you to itemise all of these special items before the contract is drawn up, so that if you get divorced (or should your spouse die), you won’t lose what’s yours. An antenuptial agreement will also ensure that your assets are safe should one of you undertake a business venture or if either partner has an income that may not always be consistent.

2. What’s yours is yours

If there’s one thing in this marriage that you’ll want to avoid sharing, it’s debt. As with the point above, getting married without a prenuptial contract means that half of your partner’s debts and financial troubles become your problem. We don’t like that idea – nope, not even a little bit. An antenuptial contract will exonerate you of responsibility should your partner fall into debt during the marriage (or is in a financial crisis prior to the wedding). Each individual becomes responsible for his or her own financial standing, be it good or bad.

3. Total (Self) Control

Financial independence is a major advantage of signing an antenuptial agreement. Who likes asking for permission anyway?

A prenuptial agreement will give you contractual capacity and allow you the freedom to carry out your own monetary affairs without first having to ask for your partner’s consent. At the same time, you will retain control of your own assets and property, thus being in the driver’s seat as far as your individual estates are concerned.

Not forgetting…

These days, getting married in community of property is considered to be a mistake, and it’s true that this marital regime can lead to problems in the future. Rectifying this at a later stage and instating a marital contract during the course of the marriage will entail a High Court application, which is a tedious and expensive undertaking. The way to prevent this is by doing your homework, and signing on the dotted line before the wedding.

It’s important to note that, when getting married out of community of property, there are two types of marital contracts: with accrual, and without. Your choice will determine whether or not financial gain is shared upon termination of the marriage, so consider your choice carefully.

So go do it. And do it well before the wedding, so that the fun and games can resume!

For more information: Read Antenuptial Contracts – What You Need to Know