If you have made the big decision to get married, you are quickly realising that there are many decisions that the need to be made. Other than the colour of your dress, church and wedding reception, there is also the key legal decision that you should make and that is whether or not you need an antenuptial contract. If you do not enter into an antenuptial contract and you get married then your marriage will be a marriage in community of property.
An antenuptial contract allows both parties to retain any assets held before, as well as acquired during, the marriage. The main goal is to allow both parties to enjoy the legal freedoms held before marriage and to protect both partners from financial disasters that may occur in the future.
If parties wish to enter into a marriage out of community of property (in other words to avoid the “we share everything” principle), they need to sign an antenuptial contract.
Marriage out of community of property therefore works on the principle of “what is mine is mine, what is yours is yours.”
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