On 10 October 2023, South Africa’s Constitutional Court delivered groundbreaking judgments in two separate but interconnected cases, both challenging the constitutionality of section 7(3) of the Divorce Act of 1979.
Before this ruling ANC without accrual marriages effectively resulted in two seperate estates or what is known as "what is mine is mine, and what is yours is yours". This is no longer the case!
According to various reports, this clears the way for spouses married after 1 November 1984, within the "out of community of property without the accrual system", to ask the court in a divorce settlement to exercise its discretion and order that any asset or any sum of money be transferred from one spouse to another.
This new ruling does open the door to not leave a party destitute – if that was the system that you chose to have applicable to your marriage and you put your own career on hold to further the marriage as such.
The Constitutional Court has given parliament 24 months to amend the divorce act in this regard.
Source: Moneyweb
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Edited by Anton Schutte: Talent and Recruitment Manager and Certified Financial Planner®: PWG Group