Property Division in Divorce — What Is It and When Does It Apply?
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Asset division in divorce is a legal process that occurs when spouses decide to separate and are required to divide their joint property between them in accordance with family law in Israel. The term "division" refers to the process of distribution, in which an assessment is made of all assets, liabilities, and financial rights of the couple, and subsequently divided between the parties in accordance with legal principles established by law.
Legal Definition of Asset Division in Divorce
In accordance with the Marriage Law (Procedure), 5727-1967, asset division is a procedure in which the court determines how the couple's joint property will be divided. This division is based on principles of justice and equality, taking into account the contributions of each spouse — both financial and non-financial — to the accumulation of assets during the marriage.
When Does Asset Division in Divorce Apply?
Asset division applies in every divorce case, whether it is uncontested divorce (when both spouses agree) or contested divorce (when one spouse petitions for divorce). The process begins after a divorce petition is filed with the court and ends after the court determines the division of assets or when the parties reach an agreement on the matter.
Property Involved in the Division Process
The asset division process in divorce involves various types of assets and rights:
- Real Estate — apartments, houses, land, and any other immovable property
- Financial Assets — bank accounts, investments, securities, and deposits
- Business Assets — businesses, company shares, and business rights
- Personal Property — vehicles, jewelry, items of personal or financial value
- Pension and Annuity Rights — corporate annuities, pension funds, and insurance
- Liabilities and Debts — loans, mortgages, and any joint debt
In the division process, the law office of David Wasserman assists in accurate valuation of all assets to ensure that the division of property is fair and reflects each spouse's contribution to asset accumulation.
Principle of Equality and Justice
A fundamental principle in family law in Israel is that property accumulated during marriage is considered joint property, and its division in divorce should be fair and equal. However, "equal" does not always mean "split exactly in half." The court considers many factors to reach a just division.
Financial and Non-Financial Contributions
When determining the division of assets, the court considers not only direct financial contributions (such as income from employment) but also non-financial contributions. These contributions include: childcare, household management, support for a spouse's education, or sacrificing one spouse's career for the benefit of the family. These contributions are recognized as part of the equitable process.
Factors Affecting Asset Division
The court examines several factors when determining the division of assets:
- Length of Marriage — longer marriages may lead to a more equal division of assets
- Financial Contributions — income, investments, and savings of each spouse
- Non-Financial Contributions — childcare, household management, and educational support
- Needs of Children — the court considers the needs of children and may grant an advantage to the spouse with primary custody of the children
- Health Condition and Age — advanced age or health issues may affect the division
- Future Earning Capacity — the court considers the potential of each spouse to earn in the future
The law office of David Wasserman examines each factor with professional expertise to ensure that all your strong arguments are presented before the court.
Main Steps in the Asset Division Process
There are two main types of divorce in Israel: divorce by agreement and contested divorce. The differences between these two types significantly affect the process of asset division.
Divorce by Agreement
In a divorce by agreement, both spouses agree on all matters, including asset division. In this type of divorce, the parties work together to reach a settlement that satisfies both of them. This process is typically faster, less expensive, and causes less stress on the family. David Wasserman Law Office assists in drafting an asset division agreement that is fair and legally valid.
Contested Divorce
In a contested divorce, one spouse files for divorce and the other spouse does not agree or opposes the settlement. In this type of divorce, the court decides all matters, including asset division. This process takes longer, is more expensive, and causes more stress. However, in this process it is very important that you have strong legal representation to protect your rights.
Comparison of Procedures
| Criterion | Divorce by Agreement | Contested Divorce |
|---|---|---|
| Agreement of both parties | Yes — full agreement on all matters | No — one spouse files, the other opposes |
| Duration of process | 2–6 months typically | 1–3 years or more |
| Legal cost | Lower — fewer hearings and legal work | Higher — multiple hearings, experts, and valuations |
| Stress and conflict | Low — cooperation between parties | High — opposition and disputes |
| Legal outcome | Agreement between parties | Court judgment |
| Flexibility in asset division | High — parties can agree on any division | Limited — court applies legal principles |
In both cases, David Wasserman Law Office provides professional and personal guidance to ensure your rights are protected and asset division is fair.
Frequently Asked Questions About Asset Division in Divorce
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