Cohabiting partners in South Africa risk losing assets and inheritance without a will. Learn why drafting a will is essential and how Engelsman Magabane Incorporated can assist.
A marriage in community of property is the default marital regime in South Africa if no Antenuptial Agreement is signed. When married under this system, all assets and liabilities are shared equally between the spouses.
The accrual system is a legal mechanism that allows couples to maintain separate ownership of their estates during marriage while sharing in the growth of each other’s estates once the marriage dissolves, whether by death or divorce.
In today’s unpredictable world, planning for the future is not just wise but essential. Two critical legal documents that provide individuals and couples with the security and control needed over their personal and financial affairs are a will and an antenuptial contract.
Engelsman Magabane Incorporated understands that wedding bells and happily-ever-after dreams take center stage during your engagement. However, amidst the whirlwind of planning, it’s crucial to consider the legal implications of marriage. An antenuptial contract (ANC), though not the most romantic topic, can safeguard your financial interests and provide peace of mind in the long run.
Traditionally, wills have focused on tangible assets like property and possessions. However, the digital age has introduced a new category: digital assets. These can include:
Cryptocurrency holdings
Online accounts (social media, email, etc.)
Digital content (e-books, music, photos)
Domain names and website ownership
For many, the image of a legally binding agreement still conjures up a document with a wet ink signature. However, South Africa’s legal landscape is embracing the digital age, and electronic signatures (e-signatures) are now a recognized and secure way to validate agreements. At Engelsman Magabane Incorporated, we want to ensure our clients understand this evolving legal landscape and its implications for drafting agreements.
