Postnuptial
Postnuptial agreements: providing legal guidance to married couples
No one likes to think about potential marriage difficulties, especially when things are going well. However, planning for future challenges can protect you and the life you’ve worked so hard to build. Some couples create prenuptial agreements before marriage to address financial matters in case of divorce. Others may not be ready for these conversations early in the relationship or may not see the need at that point. We recommend having these conversations as they foster transparency and trust.
Fortunately, it’s never too late to enter into a postnuptial agreement, which provides similar protection and peace of mind.
What Is a Postnuptial Agreement?
A postnuptial agreement is similar to a prenuptial agreement but is signed after you are married. It outlines the terms of a potential divorce, including the division of property, handling of debts, spousal support, and other important topics. A skilled lawyer is essential to create this document, ensuring all current and future assets, debts, and issues are accounted for. The signed document must then be presented to the Family Court for authorization and approval. The court ensures the agreement is fair to both parties and that you understand what you are signing. Once approved, the postnuptial agreement is legally binding.
Why is a Postnuptial Agreement Important?
While prenuptial agreements are becoming more popular in Israel, many couples still choose not to create this type of financial agreement before marriage. Some worry that a prenup could cause a lack of trust, while others may feel they do not have enough assets to justify the time and expense. However, after marriage, you might find that your relationship could benefit from the clarity a financial agreement provides.
Disagreements over money can be a major source of conflict within a relationship and can sometimes lead to a marriage breakdown if unresolved. A postnuptial agreement documents what will happen if the relationship becomes irretrievable and divorce is imminent. Creating this agreement can help you resolve many disagreements and strengthen your commitment to each other. It can also serve as a roadmap for what happens if you begin to struggle and try salvage your marriage, by focusing on current income and assets and what happens in the event of a divorce.
What are the benefits of making a postnuptial agreement?
A postnuptial agreement can offer various benefits for you and your spouse. Here are some key reasons to consider creating one:
More Time to Assess Financials
- Gives you more time to understand and manage your finances together.
- Helps you see how money is handled in the marriage before making any agreements.
Changes in Assets and Income
- Addresses any significant changes in your financial situation since getting married.
- Ensures new assets and income are fairly managed and protected.
Making Aliyah
- Provides an agreement that is valid under Israeli law when making Aliyah.
Owning a Business
- Protects the income or assets earned during the marriage, especially important for business owners.
- Prevents an ex-spouse from claiming a percentage of your business or its earnings.
Receiving a Large Inheritance or Gift
- Safeguards any sizable bequests or gifts from becoming joint assets.
- Ensures these assets remain separate and protected.
Protecting Beneficiaries and Heirlooms
- Secures specific assets and heirlooms for beneficiaries, particularly if you have children from a previous marriage.
Simplifying Debt Issues
- Clearly defines responsibility for paying off debts, reducing marital stress related to financial liabilities.
Illness or Death Protections
- Determines what happens if one spouse becomes ill or dies, ensuring protections for the other spouse and any children.
Leaving the Workforce
- Addresses the financial imbalance if one spouse leaves their job to support the other’s career or family needs.
- Ensures fair distribution of marital assets for the spouse who sacrifices career opportunities.
Avoiding Court Involvement
- Helps avoid court involvement in property division decisions, making the process smoother and more predictable.
Can postnuptial agreements help prevent GET refusals?
GET refusals in Jewish divorces have become a growing concern. If a husband refuses to grant his wife a GET, she cannot legally divorce him. Similarly, a wife may refuse to accept a GET, chaining her husband to the marriage. Without good legal remedies, individuals sometimes use GET refusal to force their spouse to agree to their demands before finalizing the divorce.
To prevent these situations, a group of rabbis created “The Agreement for Mutual Respect” (Heskem L’kahvod Hadadi), which can be signed as a prenup or postnup agreement. If a wife requests a divorce and her spouse refuses for a predetermined period, he agrees to pay monthly spousal support. This expense incentivizes agreeing to the divorce. The agreement also allows the spouse who doesn’t want the divorce to request marriage therapy to try to improve the relationship.
Get legal guidance
A postnuptial agreement can be complex, depending on your situation and needs. It must be carefully drafted to meet strict legal standards and achieve the desired outcomes for you and your spouse. Ideally, your postnuptial agreement will never be used. However, if needed, it can simplify your divorce and ensure you are in a good financial position to continue your life. My team at Hait Family Law can guide you through creating this document and getting it authorized by the court.
Contact Hait Family Law for expert legal advice
Considering a postnuptial agreement can provide peace of mind and protection for you and your spouse, no matter what the future holds.
Contact Hait Family Law today to discuss how a postnuptial agreement can benefit you.