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An antenuptial agreement or a prenuptial agreement is an agreement made between parties before getting married, permitting them to individually retain certain assets during the marriage and after the marriage if divorce arises.
What is the difference between prenup and antenuptial?
The main difference between a prenup and an ANC lies in the terminology and the legal systems where the terms are used. Prenuptial agreements are commonly used in countries such as the United States, the UK, and Australia, while antenuptial contracts are the legal term used in South Africa.
What are the disadvantages of an antenuptial contract?
Potential Downsides of an Antenuptial Contract With Accrual Complexity and Legal Costs: Drafting and registering these contracts requires precise legal work, which can be costly. Unforeseen Financial Outcomes: In cases where one spouses estate grows substantially more, the other may feel unfairly compensated.
Is a prenup a 50/50 split?
Prenuptial Agreements Overcome the Presumption of a 50/50 Split. Prenuptial agreements can provide for an unequal distribution of a couples property and are more common in a second or subsequent marriage, where one or both spouses desire to protect assets for their respective children.
What is included in an antenuptial contract?
An antenuptial contract is clear and straightforward, specifying: The net values of each partys estate at the start of the marriage. Any exclusions from the accrual, as discussed previously. The accrual calculation for marriages with accrual.
You may be familiar with the basic premise behind prenuptial agreements, but have you ever heard of an antenuptial agreement? This isnt some new fad in family law and divorce. Rather, an antenuptial agreement is just another way to say prenup. The terms are equally interchangeable.
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Prenuptial Agreements
If the antenuptial agreement is presented a very short time before the wedding ceremony and the postponements of the same would cause a docHub hardship
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