Ante Nuptial Contract (ANC) meaning
Ante Nuptial Contract is a legal document that stipulates how assets will be dealt with in the event of death or a divorce.
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Ante Nuptial Contract without Accrual
When being married in community of property, no ANC is required, and this can be dangerous for both parties. When a couple decides to enter marriage without an ANC, they will automatically be married in community of property – meaning both parties will have equal right to each other’s assets and there is a joint estate.
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On the other hand, being married out of the community of property will require an ANC, and there will be no joint estate. Having said that, the parties will have their own financial independence, and any debt incurred by one party will not affect the other.
For more information on having your ANC professionally drafted or having your ANC registered, call our offices for an online appointment for a professional legal consultation.
