In collaboration with attorney Dodi Maor
The financial aspect of the divorce procedure
How is the property divided between spouses who decide to divorce?
Will it be fully divided equally between them?
What about property registered in the name of one of the spouses or property brought by one of them before the marriage?
What and how much should the alimony be?
And what will be decided in situations where there are significant earnings gaps between the parties?
These and more are questions that arise in every divorce proceeding along with the other personal issues.
Property division is a very significant part of the divorce process.
Against the background of this issue, many disputes may arise between the couple, during which a lot of emotions, anger and passions also float and rise.
During their married life, the couple accumulates assets and joint property of many different types: starting from apartments, cars, through bank accounts, investments, provident funds, insurances, various savings, pensions, and ending with career assets, reputation, options, and many other types of property.
In addition, many times there is also personal property that each of the spouses brought with them to the marriage and belonged to them before they married their spouse.
All of these must be brought to a 'final division' in the separation procedure.
Divorce agreement, photo: Depositphotos
How is the property divided between the spouses?
In the absence of
a financial agreement
that regulates the division of property between them, or alternatively
a divorce agreement
, then the issue will be decided in the legal courts (Family Court or Rabbinical Court) in accordance with the law and jurisprudence.
Although, the date of marriage is important as well as the duration of the period.
As far as it concerns couples who were married before 1974 or couples considered "publicly known" - the
"presumption of sharing"
will apply to them .
Regarding spouses who married after January 1, 1974 - the Financial
Relations Law
of 1973-1973
will apply to them and it is the one that regulates the property division laws between them upon divorce according to
the "resource balancing arrangement".
Sounds simple right? So it's not. Especially not if it's affluent families...
Depositphotos, photo: Depositphotos
The example of Bill Gates and Jeff Bezos
2 famous divorce cases from recent years show the complexity of dividing property in the case of rich (and sometimes also famous) couples Bill Gates and Jeff Bezos, one of the richest people in the world, separated from their spouses in divorce proceedings.
Both cases had very similar characteristics:
- It is a very long marriage
during which the financial situation of the couple changed substantially.
- In both cases
there was no 'fastened' financial agreement
, and apparently - the presumption of sharing was supposed to be 'decisive'.
- The property of the family units, beyond being significant -
is also 'complex property'
- made up of both real assets (real estate, etc.), both financial assets (deposits, etc.) and shares in small and large, public and private companies and organizations - which in many cases even are not known to the spouses directly.- In both
cases the men in the family are also
key people in organizations
that have long not been 'private' - and some of them are not only public but are organizations of global importance beyond their economic value.
Examining the publications from the media in both cases, we saw that the manner of distribution - both in relative amount and in substance - was extremely complex - and the need to maintain fairness on the one hand - and not to create substantial damage on the other hand necessitated a distribution that is fundamentally far from the 'presumption of sharing' or the rules of the 'property relations law' as simple as that.
What did we learn from Gates and Bezos?
When a marriage crisis occurs in affluent family units with a 'complex' property profile - it is not possible to simplistically apply the 'presumption of sharing' or the rules of the 'property relationship law'.
For this purpose, the couple needs guidance and legal advice from experienced advisors who combine experience and understanding of the process itself - and alongside this - significant business understanding and experience.
Legal advice that does not benefit from the 'depth' of significant business understanding may cause irreparable damage not to one or the other of the spouses - but to both.
In many cases an 'apparent victory' of one of the parties may mean the loss of both.
not just a 'lawyer'
"D. Maor & Co. is a firm that combines both worlds - along with extensive experience in the field of family law in general and handling divorce proceedings in particular, the firm benefits from the business experience of the firm's manager - Dodi Maor.
Alongside his extensive career in the field of law, Dodi Maor has many years of business experience in diverse business fields - and significant experience in the field of commercial law.
This combination ensures that in addition to sensitive and professional management of the emotional aspect of the divorce - the management of the financial aspect will also be managed in an optimal way and with a deep understanding of the circumstances.
Is it important for you to be in 'good hands' in such a sensitive and complex process? Contact us...
In collaboration with attorney Dodi Maor