All assets and liabilities of the prospective spouses, whether in existence before the marriage or obtained or incurred thereafter, will subsequently form part of the joint estate of the spouses. Certain exceptions to this rule exist, for instance where an asset is specifically excluded from a joint estate by the last will and testament of a deceased parent.
Where the accrual system is specifically excluded, neither spouse will have any claims against the estate or assets of the other even during divorce proceedings. Spouses will be entitled to manage and control their estate without any interference by the other spouse and will also be able to bequeath their assets to any person in terms of a valid last will and testament.
Prospective spouses have an option to choose between two different variants of this system namely either “Out of Comunity of property with the inclusion of the Accrual System” or “Out of Community of Property with the exclusion of the Accrual System”
The changing social landscape of South Africa led to piecemeal extensions of the reciprocal rights and obligations of life partners, including the introduction of implied “partnership agreements” or universal partnerships, which posed an even greater threat to life-partners, specifically those who never actually intended to participate in a communal estate.
Concubines, cohabitation, or “living together” arrangements are on the increase in modern societies, where most individuals choose not to conclude and register a civil union or enter into a marital relationship.
The reasons for these decisions vary from individual to individual, but can in most cases be ascribed to the individual’s fear of subjecting his/her estate to division at the termination of the civil union or marriage.
Assertive. Effective. Affordable.