Sometimes, if their respective net values are similar then in the spirit of romance they could also set their values at nil, intending to share everything while still having financial autonomy.

This means that everything they have will be shared equally on divorce, death or dissolution of assets due to debt (if one party is sequestrated the other will be equally liable) in an accrual situation.

In the case of a nil asset value at the beginning of the contract it is almost like being married in community of property. The only material difference being that they don?t need each other?s signature on any financial dealings, which is the so called 'protection' mechanism within a marriage in community of property.

The bottom line is that the contract needs to be scrutinised carefully. Do not assume that just because you have an ante-nuptial agreement that you are automatically protected. As you can see, it?s a lot more complicated than that!

acsis Limited is an authorised financial services provider. The response to the question covers some of the issues in a general and factual manner and does not constitute advice. It is important to consult with a financial planner who, after an analysis of the individuals? personal needs, goals and circumstances, will be able to provide comprehensive and appropriate advice.

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