Couples preparing to marry should check into whether their status indicates the need for a prenuptial agreement. Prenuptial agreements in Israel and in the United States can offer protection in specific circumstances. If you are a United States or Israeli citizen and you want legal guidance so you can decide whether a prenuptial agreement is a good idea for you, contact David Page Law for advice.
Prenuptial Agreements in the United States and Israel
A prenuptial agreement is a written contract between two people who are about to get married. It enables the two partners to control many of the legal rights and responsibilities of marriage including what happens with assets and common interests in the event of a separation or divorce. A prenup covers division of property, rights for spousal support, retirement benefits savings, death benefits and more.
Prenuptial agreements can be drawn up and are enforceable in both the United States and in Israel. The laws of the two countries – as well as laws of varying American states – differ regarding under what circumstances a prenuptial agreement can be entered into and regarding the content that the agreement may contain. For that reason, it’s important to consult with David Page, an American-Israeli lawyer who can advise regarding how an agreement can be drafted that will meet the specifications of both countries.
A prenuptial agreement can ensure that future spouses are able to protect their assets that they’re acquired before the marriage and plan for the future. It’s important that both parties participate equally in the drafting of the prenup and that both receive equal legal representation – if this does not occur, the courts can rule the prenup was signed under coercion or duress and invalidate it.
Prenups can address property that is to remain separate, debt accrued before the marriage, business interests, how property and assets that were acquired before the marriage will be divided in the event of a separation or divorce, the separation of income from wills, inheritances & insurance benefits and provisions for assets to be set aside for children from previous relationships. Some couples also include provisions for financial expectations and marital responsibilities.
There are a number of issues that cannot be included in a pre-nup, either in Israel or in the United States, and if they are included, the courts will not honor them. They include custody of any children born during the marriage and child support. These items will be decided by the courts during a divorce.
Why a Pre-Nup?
People choose to enter into a prenuptial agreement for a number of reasons. A prenuptial agreement is a good way to allow 2 partners to work together to protect the assets that are brought into the marriage as well as the assets acquired during the marriage. By creating a prenuptial agreement, a couple is forced to speak openly about their financial expectations, an important pre-martial discussion in any situation.
To ensure that your prenup will be drafted in a way that protects the interests of both you and your future spouse, work with an experienced Israeli-American attorney David Page Law.