In the case of joint property regimes, the assets of each partner acquired before the marriage will be deemed as separate and therefore free from claim. By contrast, the assets acquired after the marriage will belong to the common asset pool. As such, if you have formed your company before marriage, the company will remain your personal asset. However, any company formed after marriage will be deemed a common asset, unless there is a special clause in the marriage contract clearly indicating that it is to be considered to be a personal asset. It therefore follows that spousal agreement is of the utmost importance in the management of a company when common assets come into play.
We therefore advise you to avoid communal or joint property regimes.
In a separate property regime, the spouses retain ownership of all their personal assets, whether they are acquired before or after the conclusion of the marriage contract. As such, your company will remain entirely your personal asset, whether it is created before or after your marriage. Further, in the event of divorce, your ex-partner will have no claim to the company.
This regime is therefore recommended for entrepreneurs, as it offers a robust protection of your personal assets.
For full community of property refiles, the assets acquired before and after the marriage become joint property.
This is a rarely opted-for regime.
Generally, the form of the company is also important, but all companies formed with capital deposits (notably, the SAS and SARL) have the advantage of protecting the asset pools of the director and his company.
Get to know more about Alf’s services for companies by visiting our FAQs