For generations, wealthy families have encouraged their children to marry within similar socio-economic circles, partly to preserve their fortunes.
“People naturally meet partners with same experiences and hobbies,” says Moses Mathini, Head of Private Wealth and Legal at Liaison Group.
“These hobbies tend to financially exclude those who cannot afford them regularly, reducing the likelihood of people from different economic backgrounds socialising.”
However, as someone once sang, the heart is not so smart. People from rich families may marry down. This has prompted wealth managers to create structures that ensure the wealth built up over years isn’t sacrificed on the altar of romance and matrimonial property.
“Key considerations include establishing clear governance frameworks through incorporated family trusts that define roles, manage expectations and minimise the potential for disputes. These measures protect and preserve the family’s wealth by insulating it from potential divorce or predatory partners,” he says.
Affluent households are increasingly strengthening legal and governance structures that protect wealth, regardless of whom family members settle down with.
“Younger generations are entering marriage already owning businesses, investments and intellectual property,” says Onesmus Maswii, Head of Premier and Absa Wealth Segments.
As a result, open discussions about pre-marital wealth planning, transparency and asset protection have become the norm.
“Rather than holding assets individually, households are using trusts, family companies and family offices. This shifts attention from individual ownership towards governance, business continuity and dispute prevention,” Mr Maswii says.
He adds that families have become aware that poorly managed marital disputes can endanger businesses, trusts and even employees.
“Prenuptial agreements, shareholder agreements and family constitutions are now seen as management tools rather than as signs of mistrust,” he says.
The Constitution guarantees individual property rights and the freedom to marry based on consent. Mr Maswii says successful families respect these rights by educating the next generation on stewardship rather than restricting their choices.
While marriages among the business and political elite still serve as influential social and economic networks, modern unions are driven by personal choice combined with a shared long-term strategic vision.
‘Modern affluent families prioritise whether an incoming spouse understands and respects the family’s core values, long-term vision and governance structures, rather than focusing purely on their social or financial pedigree,’ he says.
Mr Maswii adds that attempting to control relationship choices often triggers conflict without safeguarding wealth. Wealthy households now rely on robust governance instruments like family trusts under the Trustees (Perpetual Succession) Act, shareholder agreements, wills and family constitutions.
“These are used to insulate family wealth from marital shifts,” he adds.
The financial independence of the younger generations has altered the approach to estate planning and marital wealth. Rather than automatically pooling assets upon marriage, couples and their families now distinguish between individual assets, matrimonial property and inherited family wealth.
“This reflects a broader trend of early entrepreneurship, advanced education and financial independence,” Mr Maswii says.
The shift becomes even more apparent when families start to consider succession. According to Mr Mathini, first-generation wealth creators are primarily focused on building wealth.
“Their priority is growing businesses and making investments that multiply the wealth,” he explains.
“Multi-generational rich families focus on preserving wealth, ensuring an orderly transfer of assets and passing on family values and governance principles across generations.”
However, first-generation entrepreneurs are more likely to rely on informal decision-making, which can expose the family and the business to avoidable conflict.
Conversely, multi-generational families tend to separate family ownership from business management by establishing family councils, implementing formal governance policies and engaging professional advisers.
They recognise that it is formal governance that secures prosperity. This difference also shapes how they prepare for future marriages. The lessons become clearest when marriages involving significant family wealth break down.
“It’s better to structure things early, when partners are cooperative and understanding comes more easily, than trying to negotiate when love has deteriorated,” Mr Mathini says.
Waiting too long to have these conversations is a mistake.
“Many families avoid discussing wealth, governance and succession until death strikes. Uncertainty and conflict that arise could have been avoided by early planning,” he says.
Families also discover that preserving wealth cannot be left to verbal agreements, assumptions or informal understanding. Without clear documented ownership and governance structures, disputes are likely to escalate.
“It is important to maintain records that distinguish matrimonial property from corporate or trust assets. Failure to make this distinction can lead to rows over asset distribution during the dissolution of a marriage, particularly when assets are presumed to be part of matrimonial property when they are not,’ Mr Mathini says.
Even with a valid will, succession planning is not always fool proof. Courts can intervene, based on the size of the estate and the needs of the beneficiaries. Plans must anticipate and mitigate potential family disputes.
“Trust structures and prenuptial agreements are only robust if they are built on full financial disclosure, proper governance and independent legal advice. Courts will not uphold arrangements compromised by deception,’ he adds.
Legal reforms recognising family trusts and prenuptial agreements, combined with the growing sophistication of family businesses, suggest that these are becoming increasingly common among high-net-worth households seeking to maintain harmony and protect their wealth.
“Trusts define beneficiaries, impose conditions and appoint enforcers to ensure compliance,’ Mr Maswii says.
“The law excludes trust assets from matrimonial property. They protect family assets while ensuring beneficiaries get their intended benefits.”
Mr Mathini believes this financial independence transforms the nature of those conversations.
‘The absence of limited resources creates an environment where both parties focus more on emotional well-being than on what they can gain or lose financially from each other.’