With a profound understanding of Israeli inheritance and succession, Aharoni Law Firm adeptly handles all related aspects for clients worldwide. Our erudite team is well-versed in the intricate details of Israeli probate requirements, succession statutes, inheritance taxes (if any), and related estate matters of Israeli jurisprudence.
At Aharoni Law Firm, we understand that each client’s needs are unique. Whether it’s basic needs or complex inheritance cases involving business interests, real estate, or other specialized assets, our cardinal priority is to provide personalized service tailored to you. We are prepared to handle everything for you, ensuring you feel valued and not burdened.
Inheritance Law in Israel
It’s important to note that while Israel does not have an estate/death, succession, or inheritance tax, this does not mean there are no tax implications for those inheriting property in Israel. Many individuals who inherit property in Israel will be subject to taxation in other countries, even if they are not citizens.
For instance, individuals who own certain types of property in the U.S. may be required to pay estate tax on property inherited in Israel regardless of their citizenship or residency. However, the team at the Aharoni Law Firm, with its extensive experience in international tax laws and connections in countries around the world, ensures compliance with all applicable tax laws, providing you with a sense of security.
Israeli Probate Orders and Israeli Estate Administration
When a loved one passes away, their assets and obligations become their estate, meaning everyone leaves an estate. Under Israeli succession law, the estate remains obligated for many contractual arrangements established by the deceased person before death. If your aunt had a contract to sell her car to someone, for instance, the estate would need to turn over the vehicle to the buyer, and the estate would receive the money from the sale.
The law also requires all outstanding debts to be paid before the heirs are entitled to receive distributions from the estate. If they take property too early, they must satisfy their obligations themselves. Assistance from an experienced Israeli inheritance law firm often proves essential to ensure compliance with all laws and avoid personal liability assumptions. If a problem or conflict arises, the team at the Aharoni Law Firm can resolve difficulties before they become too costly.
Fiduciary Duties of an Estate Manager
In many cases, it is necessary to designate an estate manager to oversee the probate process for an estate. This role can be fulfilled by a family member or trusted individual named in the deceased person’s will, or the court can appoint an estate manager on your behalf. Once a manager is appointed, any transactions relating to the estate must be approved by the manager or the probate court.
Individuals enmeshed in an Israeli inheritance concern can benefit from hiring an attorney to take on the role of estate administrator, or they may derive advantages from engaging an attorney to advise the estate manager in the performance of myriad duties. These may include:
- Opening a trust account for the estate,
- Inventorying assets and liabilities,
- Documenting all income and expenses paid by the estate,
- Paying all outstanding debts, if any,
- Taking legal action against anyone who has harmed the estate,
- Distributing assets to heirs and beneficiaries,
- Filing a deposition in court detailing distributions and their value.
Israeli Inheritance Taxes and Other Critical Issues
As mentioned above about the inheritance laws in Israel, taxation remains a potential obstruction to inheritances even though the country does not currently have an estate/death tax, succession tax, or inheritance tax. Many individuals who inherit property in Israel will be subject to taxation in other countries even if they are not citizens.
For instance, individuals who own certain types of property in the U.S. may be required to pay estate tax on property inherited in Israel regardless of their citizenship or residency. Failure to comply with tax laws leads to the incursion of substantial penalties. The team at the Aharoni Law Firm, with its extensive experience in international tax laws, assists clients with connections in countries around the world, ensuring compliance with all applicable tax laws.
Work with Israeli Attorneys with a Proven Track Record
Israeli inheritance laws, probate procedures, and succession laws can be elementary if you know exactly what to do. To avoid problems that can prevent you from receiving your rightful property or subject you to costly fees and delays, work with a team that understands how Israeli inheritance laws affect those who live abroad.
Contact Aharoni Law Firm for A Free Consultation
The Aharoni Law Firm has indispensable qualifications for managing estate and inheritance issues. Please contact us today for a complimentary consultation to discuss how we can be of service. We have offices in Tel Aviv, Los Angeles, New York and Florida. If you are looking for an Israeli inheritance lawyer, Rahav D. Aharoni, Adv. can help you with the entire process. Complete our form or call us at 888-923-0022 or any other phone number listed below, and we will be happy to answer your specific questions.
In Conclusion:
- Israel does not have estate/death, succession, or inheritance taxes.
- Inheritances may be subject to taxation in other countries, even if the inheritor is not a citizen.
- Individuals inheriting property in the U.S. may be required to pay estate tax on property inherited in Israel, regardless of citizenship or residency.
- Failure to comply with tax laws can result in substantial penalties.
- Aharoni Law Firm has experience in international tax laws and we can assist our clients in complying with all applicable tax laws.
