Resource Balancing
Resource Balancing Before Divorce is a service required for divorcing couples to handle a wide range of issues, including the division of assets, businesses, and liabilities between them. This process is known as resource balancing before divorce.
According to the Financial Relations Between Spouses Law, 1973, if no prenuptial agreement was signed between the couple, the division of property in a divorce is based on the net joint property, meaning the property accumulated by the couple during their marriage, minus existing debts. This is done by calculating resource balancing in divorce, following the guidelines established by this law.
Our firm has extensive experience in public work on behalf of Israeli courts and in carrying out property division through resource balancing between divorcing couples. Our accountants are frequently appointed by family courts in various cities across the country to submit expert opinions as part of divorce cases, with the aim of assisting judges in these cases to conduct economic resource balancing between the couple, for the purpose of dividing their net property. This includes calculating personal goodwill and career assets, and sometimes even valuing companies, businesses, and ventures, as well as dividing current or future pension rights, among other things.
Since resource balancing calculations require numerous assumptions and professional methodologies that can be difficult to understand without the required education, our firm also assists attorneys and their clients in professionally addressing expert opinions submitted to the family court in their cases. Such services typically include an in-depth review of the expert opinion submitted by another accountant or actuary, advice regarding its findings and any weaknesses identified, assistance in drafting clarification questions for the expert and the court, and, if necessary, providing testimony on this matter in court.
As the firm’s director, Michael Weitzman, CPA, is a certified arbitrator and a member of the Arbitration and Mediation Center of the Institute of Certified Public Accountants in Israel, we can offer arbitration services for divorcing couples, combined with professional property division according to the resource balancing rules established by law. This process is conducted in a pleasant atmosphere, with mutual agreement, cost savings, and without the need for prolonged and exhausting legal proceedings or the hiring of additional experts, except for a real estate appraiser if needed.
For more information available on our firm’s website, please refer to the article published on the topic, detailing the range of considerations and issues faced by couples in the divorce process and resource balancing. For your convenience, here is the link to the article: Resource Balancing Before Divorce.
An accountant from our firm will be happy to assist you with this service. Feel free to contact us without obligation.
