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

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