Matrimonial regimes are laws that govern property ownership for married couples. Couples can choose between different property systems or establish a prenuptial agreement. Common property regimes consider all property jointly owned, while separate property systems allow for individual ownership. Accrual marriage regimes treat assets as joint after separation. Couples should seek advice before making ownership decisions.
A matrimonial regime is a collection of civil laws relating to property ownership for married couples, and the term can also be used to refer to a specific property ownership system. Some nations have a single default agreement for managing marital property, while others ask couples to choose between several choices. Couples can choose to bypass the matrimonial regime by establishing a prenuptial agreement to specify how they want their assets to be managed. This may be advised in cases where the property brought into the marriage is large, or there are concerns about the availability of property to children from previous marriages in the event of death.
A property system is separate, where the parties to a marriage hold assets separately and retain their ownership of the assets throughout the marriage and in the event of separation. This can make dividing a property simple. In the event of the death of a partner, that person’s will stipulates how the estate should be divided among the heirs, and a spouse may be included as an heir or designated as sole heir to the estate.
Another option is an accrual marriage regime, where people acquire and hold assets separately during the marriage, but they are treated as joint assets after separation. This reflects the fact that marriage makes such maturation possible; for example, someone who makes a lot of money may have been supported by the other partner while getting an education and developing a career. In these relationships, a partner who manages the household instead of working is left with nothing at the end of the marriage, receiving compensation for the contributions made to the union.
In a common property matrimonial regime, all property brought into the marriage and acquired during the marriage is considered to be jointly owned. Upon the death of one partner, the other automatically inherits all of the estate, unless specific provisions have been made in a will. In the event of a separation and divorce, the inheritance will be divided, usually equally, although a couple may find an alternative arrangement.
People preparing for marriage in a region where they will be asked to choose between spousal property systems may wish to consult an accountant or financial adviser. It can be helpful to get advice both separately and as a couple, so ownership decisions can be made with care and consideration. Couples can ultimately decide on a prenuptial agreement to meet their needs if they feel the marriage regime choices are limited or unsuitable for their union.
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