Antenuptial Agreement With Accrual
Description
How to fill out Mississippi Antenuptial Agreement?
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FAQ
Antenuptial contract with accrual refers to one of three civil marriage regimes recognised under South African law. Most commonly known as Marriage out of Community of Property subject to the Accrual System, this system requires an antenuptial agreement to be drawn up by an attorney before the date of marriage.
The accrual system works as follows in South Africa: At the beginning of the marriage the value of each party's estate is determined and noted. On the day of divorce or death the growth value of both estates is calculated separately. The total differences in value between the bigger and smaller estate is noted.
How to calculate the accrual?DETERMINE THE VALUE OF THE ASSETS: Draft a list of all the assets.DEDUCT THE FOLLOWING FROM THE TOTAL VALUE OF THE ASSETS: The commencement value as stated in the antenuptial contract (adjusted to be in line with the weighted average of the Consumer Price Index),THE RESULT = The Accrual
The accrual system incorporates a calculation that is applied when the marriage is dissolved by divorce. The spouses will share the assets during the course of their marriage based on a particular calculation when the marriage is terminated.
To work your commencement value, the commencement value in the ANC needs to be calculated as at date of divorce. The commencement value in the ANC is multiplied by the average CPI as at date of dissolution and then divided by average CPI at date of commencement.
