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In South Africa, many people are in illegal marriages because they separate from their customary spouse without obtaining a formal divorce. A customary marriage can only be dissolved by death or divorce.
When one party is attempting to hide assets, a liquidator’s expertise is invaluable. They have the skills and resources to trace concealed assets, including offshore accounts or undervalued property.
Are your family trust assets truly safe in the event of a divorce? Discover the hidden risks as we unravel when South African courts can pierce the veil of trust protection. Learn essential tips to safeguard your trust and preserve your legacy amidst marital turbulence.
In South Africa, either spouse can initiate divorce proceedings without the explicit consent of the other. This means that, unlike in some other countries, a reluctant partner cannot veto the divorce simply by refusing to sign papers.
Divorce isn't just about ending a marriage, it's about opening the door to a new chapter. And sometimes that comes with a price tag, but it's worth every penny.
In simple terms, individuals who entered into marriages without the accrual system while married out of the community of property will now have the right to request a redistribution of assets, regardless of the terms outlined in their antenuptial contract.
The stakes are high in divorce proceedings, and the presence of hidden assets can transform the landscape into a tempestuous battlefield. When one spouse attempts to obscure assets within a family trust, the equitable distribution of wealth becomes distorted, potentially leaving the other spouse at an unfair disadvantage.
