Tips and Tricks Series – What to do when you receive a parking ticket

You find a parking violation notice affixed to your car windshield by a Municipality inspector, or receive one in the mail. The notice gives you two options: pay the fine within the specified period or contest the matter in court and run the risk of paying an aggravated fine and court costs if you lose. Should you rush to pay? Or agree to try your luck in court? Are these really the only two options available to you? Read the … Continued

Tips and Tricks Series – Surviving an IRS Audit in Israel

You haven’t received your additional child tax credit this year courtesy of the US Government. You fear that an audit from the US tax specialist auditor is on its way. Why is every second person claiming American child tax credits being audited? What can you do to prepare yourself for the mountain of paperwork that is likely to be required? On these and other related issues, see the following blogpost: Surviving the IRS Child Audit

Tips and Tricks Series – Rental Contract Negotiations in Israel

This series of Tips and Tricks considers common issues that arise in the course of rental contract negotiations in Israel. Bearing in mind that most rental contracts in Israel tend to be landlord-weighted, what points should you, as a tenant, be wary of and consider negotiating? For which damages should the landlord be responsible? Should the tenant be required to contribute towards the landlord’s building insurance policy premium? Are two guarantors really needed to protect the landlord’s interests? To read … Continued

Tips and Tricks Series – Israeli Business Entities

This series of Tips and Tricks considers the formation and operation of the most commonly formed Israeli business entities: the private limited company (חברה בע”מ), the general business partnership (שותפות) and the non-profit organization (עמותה). To read more on these, choose from the topics listed below: Private Limited Company General Business Partnership/li> Non-Profit Organization

Tips & Tricks Series – Making a Will

This series of Tips and Tricks examines commonly asked questions regarding making a Will in Israel. What are the advantages of making a Will and what happens if you fail to make one? If I have assets also outside of Israel, can I dispose of these assets in the framework of my Israeli Will, or should a separate Will be made for each separate jurisdiction in which assets are held? Does Israeli law require me to appoint one or more … Continued

Tip 8 of 10 of “Tips and Tricks on Making a Will in Israel”: How does a trustee differ from an executor, and when ought one be appointed in my Will?

What is the difference between an executor and a trustee? The executors distribute and administer the testator’s estate after his death. The trustees Will take over and manage any trust to be created under the Will once the estate administration has been completed. When ought a trustee be appointed? Trustees may not always be required. In the case of a simple Will, there is usually no need to create a trust. In other more complex situations the testator may need … Continued

Tip 7 of 10 of “Tips and Tricks on Making a Will in Israel”: Should family members be appointed as one’s executor? Should an alternate executor be appointed?

You can choose either a person or a trust company to act as your executor. If you choose a person to be your executor he or she must be 18 years or older. Most people choose a relative or close friend as executor. If your estate is large or complicated you may wish to appoint a professional person to act as your executor, such as your lawyer or accountant, or even both. Family members will usually agree to administer the … Continued

Tip 6 of 10 of “Tips and Tricks on Making a Will in Israel”: Is it advisable for me to appoint an executor in my Will?

Unlike in other jurisdictions, the appointment of an executor is not required under Israeli law. Indeed, if the estate is small or straightforward, it is probably not necessary, albeit that an executor can assist in the efficient distribution of the estate. The appointment of an executor can add considerably to the costs of winding up an estate, as the executor is required to file with the Administrator General’s Office (האפוטרופוס הכללי) an inventory of all the estate’s assets and an … Continued

Tip 5 of 10 of “Tips and Tricks on Making a Will in Israel”: What is the role of an executor?

  An executor is a person or trust company whom you name in your Will to carry out (“execute”) your wishes and distribute your estate when you die. Your estate is what you own at the time of your death. It may include all kinds of property such as a car, a house, a cottage, land, furniture and jewelry. Other property may come into your estate after your death, such as interest on investments and income from rental property. The … Continued