Tip 3 of 10 of “Tips and Tricks on Making a Will in Israel”: If the vast majority of my assets have been moved to Israel, need I still make a separate Will abroad?

In our last tip, we advised making separate Wills for each separate jurisdiction in which you have assets. However, there may be occasions when you don’t need to make a separate Will abroad at all. For example, if you own a bank account abroad, you can simply complete a “nominated beneficiary” form, through which you designate one or more family members or other beneficiaries to receive the proceeds of your account once you die. In this manner, your few overseas … Continued

Tip 2 of 10 of “Tips and Tricks on Making a Will in Israel”: I made Aliyah but still have assets abroad. Can I cover all of my assets with one Will made in Israel?

Technically, yes, although on reaching the age of 120 your Israeli Will would then need to be probated in more than one jurisdiction, which can be a costly and bureaucratic procedure. As a general rule, a person who owns assets in different countries or jurisdictions, is therefore advised to prepare a separate legal Will in each jurisdiction, in order to avoid unnecessary tax and other complications in the future. So, if my wife and I own assets in Israel but … Continued

Tip 1 of 10 of “Tips and Tricks on Making a Will in Israel”: Why should I bother making a Will?

  Making a Will, which is usually a very simple and relatively inexpensive document in Israel, can be a very simple expedient for avoiding intra-family conflict, squabbles and misunderstandings amongst your heirs. In addition, probating a Will, when the time comes, involves much less expense, time and bureaucracy than that required in order to obtain a Succession Order. Moreover, the latter may well distribute your estate in a manner which is less than ideal – for example, it may grant … Continued