Lawyers
A prenuptial agreement and how can it protect each of the parties?
A prenuptial agreement is a legal tool that allows spouses to arrange in advance the division of property between them in the event of a divorce. In this way, the parties prevent the formation and legal dispute. In the context of separation, this is a common scenario. A prenuptial agreement has additional legal significance: it provides protection against creditors And preserves the property rights of property purchased before marriage, such as an apartment.
By Igal Mor, Adv. & Notary
Accuracy in Legal Advice. Excellence in legal support.
What is a prenuptial agreement?
The division of property is, in most divorce cases, a point of disagreement, and it is only natural due to the economic importance of this issue. Signing a prenuptial agreement prevents the development of a legal battle.This is something that is arranged ahead of time. It is important to note that a prenuptial agreement can also include additional issues such as custody and alimony. Due to its extensive significance, The law states that A prenuptial agreement requires notarization or court approval to be legally valid. As long as the couple signed the prenuptial agreementOn the eve of their marriage, they will be able to choose who to contact. But when the agreement is signed after the wedding, they must submit the agreement for approval by the Family Court. In addition, to protect against financial conflict at the separation, a prenuptial agreement covers the couple in other ways, as detailed below.
Creditors' protection
Getting into debt is a common situation that can happen to anyone, for example, due to the collapse of an independent business. Without a prenuptial agreement explicitly stipulating the division of property, creditors will be able to be repaid by both spouses and not just by the party who created the debts. It is important to note that the timing of the drafting of the agreement is of great significance. More than once, the couple arrives To the lawyer for the purpose of drafting an agreement Only when debts began to accumulate. In this situation, The creditor can go to court and argue that the agreement should be disqualified since it is designed to prevent them from receiving their money. If the court accepted this contention, the agreement would be invalidated, and the other spouse would have no protection from the creditors. In order to avoid such a scenario, it is important to make a financial agreement during a “routine” When the life of the couple and the financial life are conducted on who rests, when necessary, it will indeed provide critical legal protection.
Apartment protection
Its importance Another aspect of a financial agreement is the proprietary protection of assets acquired prior to marriage. One example of this is apartment protection when In light of the economic value of this property, it is of great importance to preserve the property right of the party who purchased it and to prevent a situation in which the apartment becomes a specific property at the time of divorce. In many cases, the apartment is for family living or rented for income. theapartment is used for income. In both of these cases, It can be argued that there is a sharing intention that gives the other spouse rights in the apartment, even though it was purchased by one of the spouses only before the marriage. Despite all of our above factors, if the parties make a prenuptial agreement that explicitly refers to the apartment and stipulates that it will remain the property of the spouse who purchased it, then even when we meet all of the above criteria, the spouse who purchased the apartment would have adequate property protection.
In Conclusion
Accurate and specific legal advice.
From the above, we learn that a prenuptial agreement is significant for the couple on several levels. First, it has the power to prevent an economic dispute between the parties in the event of a separation and thus streamline the divorce process and facilitate the couple during this not-so-simple period of family unit dissolution. Second, a prenuptial agreement provides legal protection against creditors without whom both spouses could repay the creditors. Third, a prenuptial agreement confers property protection on assets acquired before marriage, and this has great significance as far as valuable assets such as an apartment are concerned.
Thus, if you are in need of financial agreements, we recommend that you contact us so that we can assist you in drafting a customized financial agreement, one that will reflect your wishes and needs as well as provide you with optimal legal protection if the time comes to activate it.
Mor & Co.’s family law department has extensive experience in this area of law. Having years of experience in family law, we are dedicated to doing our best and making our expertise available to our clients, all while maintaining and being careful in all matters related to the legal process and respecting your interests.
For legal advice (without obligation) regarding the financial agreement, please contact us at 02-595-3322 or WhatsApp at 050-811-6181.
