What do I get on divorce?
Can you please explain to me how an ante-nuptial agreement with accrual works? I am planning on getting a divorce after losing my job, causing a breakdown of the marriage. I sold some of my assets to assist with the household expenses. My wife currently has a good job with an estimated net worth of about 900 000. My current net worth is in negative territory of about 200000. On marriage my net worth was about 400 000, while hers was about 100000. What do I get on divorce?
The first step is to work out the accrual in your estate. Based on a starting value of R400k and a ending value of (-minus 200000, there has been NIL growth in your estate.
Step 2 is to work out the accrual in your wife’s estate. Based on a starting value of R100 k and an ending value of R900k, her estate has grown by R800 k.
Step 3 is to subtract from your wife’s accrual and your accrual. R800 minus NIL (because you can’t subtract negative growth) = R800k
You would, on divorce, then be entitled to a claim of 50% of the growth in your wife’s estate of R800k, which would be R400 000.