How can a pre-nuptial agreement save you money?

Importance of a prenuptial agreement
Prenuptial agreement is an important written document that is drafted and signed by a couple who is going to enter into a marital relationship. This agreement or contract is prepared to safeguard the rights of both in case of marriage failure. In such a situation, the division of property and other joint assets usually become a matter of dispute and prenuptial agreement plays its vital role by providing a pre-determined, mutually agreed, solution.

 How it saves money?
• You won’t have to hire an expensive lawyer to settle the disputes.
• You won’t make an excuse in your normal life and have to go up and down for court hearings.
• Generally, if there is no pre nup agreement, then law equally distributes assets between spouses.


Legal Significance of Prenuptial Agreement in South Africa
In South Africa, Divorce Act 70 of 1979 comes forward in settling such issues. If husband and wife do not compile and sign a contract before marriage and fail to continue their marital relationship and want divorce then the division of property and all other joint assets will be dealt under this Act of South African law.
However, if they sign a prenuptial contract before marriage they will remain on safe grounds in the event of divorce as they will resolve disputes regarding the division of property and assets according to a mutually agreed manner. They do not need to involve the court which may harm the interest of any one of them or even both of them.

In the preparation of a prenuptial agreement for South Africa, these are some important points which should be included in the written contract.
• Personal details of the couple (Names, addresses)
• Time of divorce or separation
• Procedure joint property’s division
• Total capital calculations
• Claim of marital residence
• Who will be responsible of mortgages and other utility bills
• All other joint assets
• Responsibility of debts
• Resolving disputes about division of assets
• Who will look after children
• Spousal support

For having a comprehensive prenuptial agreement template in plain English, just contact to Net Lawman who are the best in this business as they compile all sorts of contract templates and you just need to make small editing in this document to mould it to fulfill your personal requirements.