In this article we take a look at the current situation with the Master’s Office and the significant economic impact it’s having in our country. Businesses are effectively taken out of the economy and people are losing their livelihoods, because of conflicting efficiencies (or inefficiencies).
Proper estate planning entails much more than the mere drafting of a Last Will and Testament.
Divorces are generally characterized by the absence of communication, financial insecurity, feelings of loss, and above all, high incidents of overt conflict. To make matters worse, the parties will now have to immerse themselves in legal proceedings for which they neither have the emotional appetite nor the required experience. This is your guide to Surviving Divorce.
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”
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.
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