Understanding how your marriage contract will impact the management of your familys finances is essential to a happy marriage and a secure financial future, notes Cyber Finance, a debt management company.
If you get married without drawing up an ante-nuptial contract, you will automatically be regarded as being married in community of property because this is the default contract in South Africa.
While you may save some money by not paying a lawyer to draw up an ante-nuptial contract, a marriage in community of property carries significant financial implications for the couple, it said.
When you are married in community of property, you and your spouse share the risks and the benefits of a joint estate. No asset can physically be divide…
Read the full article at: https://businesstech.co.za/news/wealth/423270/how-being-married-in-community-of-property-impacts-your-debts-as-a-couple/
