Israeli Inheritance Lawyer
Aharoni Law Firm manages all aspects of Israeli inheritance and Israeli succession for clients all over the world. Our erudite team is well-versed in the intricate details of Israeli probate requirements, Israeli succession statutes, Israeli inheritance taxes (if any), and all related estate matters of Israeli jurisprudence.
We assist clients with basic needs as well as complex inheritance cases involving business interests, real estate and other specialized assets. However, our cardinal priority centers on the provision of personalized service tailored to the unique needs of each client. We are prepared to handle all matters on your behalf to minimize the burden on you.
Israeli Probate Orders and Israeli Estate Administration
When a loved one passes away, their assets and obligations become their estate, so that means everyone leaves an estate. Under Israeli succession law, the estate remains obligated for many contractual arrangements established by the deceased person prior to 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 will then have to satisfy obligations themselves. Assistance from an experienced Israeli inheritance law firm often proves essential to ensure compliance with all laws and to avoid any assumption of personal liability. 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 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
Inheritance Taxes and Other Critical Issues
Taxation remains a potential obstruction for inheritances in Israel despite the fact that Israel 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 of those countries.
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 has extensive experience assisting clients with connections in countries around the world, so we endeavor to ensure 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 very simple 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.
The Aharoni Law Firm holds qualifications indispensable to the management of estate and inheritance issues. Contact us today for a complimentary consultation to discuss the ways we can be of service.