Everything you need to know about a financial agreement between married couples
A financial agreement between married couples determines in advance how property will be divided between the spouses, and it heads off financial disputes if the marriage ever ends. A well-drafted agreement gives the couple confidence that, should the marriage break up, the division of property will be fair and balanced and free of financial conflict.
Why couples sign late
There are several reasons couples do not sign a financial agreement before the wedding. Often it comes down to a lack of awareness of how much the agreement matters, or the familiar feeling of “it won’t happen to me.” Sometimes one partner understands its importance perfectly well but avoids raising the subject out of awkwardness, or fear of the other partner’s reaction. A financial agreement between married couples is often signed when the couple’s finances are running smoothly, with the confidence that now, after the wedding, the issue can be settled without any worry that raising it will call the marriage into question. In other cases, the agreement comes about precisely because of financial disputes, or pressure from one partner’s parents.
What does the financial agreement include?
Every financial agreement must address the property each spouse brought into the marriage as well as the property the couple will build up during their life together. Typically the agreement provides that each spouse keeps their premarital property, and it sets out how property accumulated during the relationship will be divided. The drafting should cover every kind of asset: savings and cash, real estate, businesses, and inheritances. The professionalism of the drafting lawyer matters enormously, because the courts take financial agreements very seriously and the chances of overturning one after it has been signed are slim.
Experience and professionalism in drafting financial agreements between married couples
Once the parties agree to sign a financial agreement between married couples, they must appear in court after it is drafted to have the agreement approved. For drafting and signing, it is worth turning to a lawyer who specializes in family law, such as Adv. Avital Horef, who has the knowledge and experience to draft every clause of the agreement so that it leaves no room for interpretation. Adv. Horef is an expert in personal status matters with extensive experience in drafting financial agreements between married couples.
