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Although the rights of a partner when someone dies are being considered in the Law Commission’s review of succession law, it is unlikely that those rights will change.

 

It is very likely that a surviving partner will still be entitled to the share of relationship property that they would otherwise have received if the couple had separated while both were alive. This means that if you pass away after 3 years of living together, your spouse is entitled to 50% of the family home, your savings during your relationship, and items purchased using your income during your relationship such as vehicles.

 

If you want to make sure your assets pass to your children should you pass away, you may wish to consider a Contracting Out Agreement. A Contracting Out Agreement will give you the peace of mind to enjoy your relationship knowing that your assets are secure for your children no matter what happens to you.

 

For a free 15 minute phone call, please feel free to call me on 021 077 7785