What are Our Options?
This is one of the most exciting times of your lives! You’ve spent hours finding the perfect venue, stunning outfits and the best team of people to stand beside you as you start your lives together. Planning a wedding is not an easy task, but we’re here to help make one of these tasks effortless!
Let’s Talk The Law and Marriage
As a couple you need to decide how your assets are treated once you get married. There are legal implications for how you choose to get married. Yes, this sounds complicated, but we have a team ofprofessionals to easily help you understand your options.
In Community of Property
Your assets and liabilities merge completely. This means you share everything 50/50, including debt.
You need permission from your spouse when applying for credit or taking out a contract.
Assets are usually frozen in the case of death, until the estate winds up which could take years.
Out of Community of Property Without Accrual
Your assets and liabilities remain your own. This means you don’t share anything.
You don’t need permission from your spouse when dealing with your own assets. This is often unfair to a non-working spouse.
For this, you need a marriage contract.
Out of Community of Property With Accrual
Your assets and liabilities remain your own.
With the accrual, you only share the growth of your assets with each other. This means you don’t share any debt. You also don’t need permission from your spouse when dealing with your own assets.
For this, you need a marriage contract.
