Marriage is not just a romantic partnership—it is also a legal and financial union. While many couples plan for their future together, few consider the financial risks involved, especially for stay-at-home parents. These parents play a crucial role in raising children and managing the household but are often at a disadvantage if the marriage ends in divorce or if their spouse passes away unexpectedly.
An antenuptial contract (ANC) can help protect stay-at-home parents by ensuring that their financial contributions to the marriage are recognised and that they have legal safeguards in place. Without one, they may find themselves financially vulnerable in the event of divorce or the death of their spouse.
What is an Antenuptial Contract?
An antenuptial contract (ANC) is a legal agreement signed before marriage that defines how a couple’s assets and financial responsibilities will be handled during the marriage and in the event of divorce. Without an antenuptial contract, couples in South Africa are automatically married in community of property, meaning:
- All assets and debts are jointly owned by both spouses.
- Each spouse is equally liable for the other’s debts.
- If one spouse goes into debt or bankruptcy, the other is equally responsible.
- Upon divorce, everything is split 50/50, regardless of who contributed financially.
For stay-at-home parents, this may seem fair—but in reality, it often places them at a financial disadvantage, as they may not have independent savings, a pension fund, or control over assets.
Types of Antenuptial Contracts
- Out of Community of Property Without Accrual
- Each spouse keeps their own assets and debts.
- There is no sharing of property during or after the marriage.
- The stay-at-home parent may be left without financial security after divorce.
- Out of Community of Property With Accrual
- Each spouse keeps assets acquired before marriage.
- Any wealth accumulated during the marriage is shared equally in the event of divorce.
- This is the best option for stay-at-home parents, as it ensures financial protection for their contributions to the marriage.
Benefits of an Antenuptial Contract for Stay-at-Home Parents
1. Financial Security in Case of Divorce
A stay-at-home parent often sacrifices their career to raise children and manage the home, which can leave them financially dependent on their spouse. In the event of divorce, an antenuptial contract with the accrual system ensures that they receive a fair share of the wealth accumulated during the marriage.
Without an ANC, a stay-at-home parent may:
- Struggle to re-enter the workforce after years of unemployment.
- Have no independent assets or savings.
- Face financial hardship if their spouse refuses to provide support.
2. Protection from Debt Liability
If the marriage is in community of property, both spouses are responsible for each other’s debts. This means that if one spouse accumulates debt (e.g., business loans, credit card debt, or unpaid taxes), the stay-at-home parent could lose everything in a bankruptcy or debt recovery process.
An antenuptial contract ensures that the stay-at-home parent is not liable for debts incurred by their spouse.
3. Recognition of Non-Financial Contributions
Many people assume that financial contributions are the only valuable part of a marriage, but stay-at-home parents provide unpaid labour that is crucial to family well-being, including:
- Childcare and homeschooling
- Household management (cleaning, cooking, scheduling)
- Emotional support and caregiving
An antenuptial contract with accrual ensures that these contributions are recognised by granting stay-at-home parents a fair share of marital assets upon divorce.
4. Inheritance and Estate Planning Protection
If a spouse passes away without a will, the surviving stay-at-home parent may not automatically receive control over the marital assets, especially if extended family members dispute inheritance claims.
With an antenuptial contract, assets and financial arrangements are clearly outlined, reducing the risk of legal battles and ensuring financial security for the surviving parent and children.
5. Avoiding Lengthy and Expensive Legal Battles
Divorces can be complex and costly, especially when financial disputes arise. Having a clear antenuptial contract eliminates uncertainty, reducing the chances of long court battles over property and finances.
Conclusion
Stay-at-home parents dedicate their time and energy to their families, but they often face financial vulnerability in the event of divorce or the death of a spouse. An antenuptial contract with accrual is the best way to protect their financial future by ensuring that their contributions to the marriage are recognised and compensated.
If you are planning to get married and are considering becoming a stay-at-home parent, consult a qualified family law attorney to draft a legally sound antenuptial contract that ensures your financial security and independence. Planning ahead today can prevent financial struggles in the future.
FAQs
1. Who suffers most in divorce financially?
Stay-at-home parents often suffer the most financially in a divorce because:
- They may have no independent income or savings.
- Their career progression is often delayed due to time spent raising children.
- They may struggle to find employment after years outside the workforce.
Having an antenuptial contract with accrual can help protect them financially after divorce.
2. Who gets the house in a divorce with children in South Africa?
- If the couple is married in community of property, the house is usually split 50/50.
- If married out of community of property with accrual, ownership depends on who legally owns the house and what is agreed upon in the divorce settlement.
- The best interests of the children are considered—if one parent is granted primary custody, they may be awarded the house or allowed to remain in it for a period of time.
3. What are the disadvantages of being a stay-at-home parent?
While stay-at-home parenting is rewarding, it comes with financial risks, including:
- Loss of financial independence (relying on a spouse for income).
- Reduced career opportunities and lower lifetime earnings.
- Limited pension or retirement savings.
- Financial vulnerability in case of divorce.
This is why having an antenuptial contract is essential—it provides financial protection for stay-at-home parents in case the marriage ends.
4. What makes an antenuptial contract void?
An antenuptial contract may be declared invalid if:
- It is not signed before marriage.
- It is not notarised by a qualified notary public.
- It is not registered with the Deeds Office within three months of signing.
- It contains illegal or unfair clauses that violate South African law.