There has been a tradition, in the Western world, at least, that when two persons get married they become one, the main effect was that their estates (assets and liabilities) was amalgamated as one estate.
What many couples dont realise is that in the modern world, today, this had the effect of both parties losing everything should one of the parties land in financial problems. One can never tell what circumstances you and your spouse may need to face in the future.
A good and protective system has devised through entering an Antenuptial contract excluding the effects set out above. Later further choices were added, you can now be married
- in community of property (that is without a contract), or
- out of community of property (that is with an antenuptial contract) either with the accrual system or without.
It is important to get proper advice and to enter into an Antenuptial contract with an Attorney before you get married. Having a prenuptial contract is the answer to protecting your assests and is highly recommended for all people getting married.
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