ARE Legal – LAW FIRM & NOTARY

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PRACTICE AREA

Private Client Practice/Estate Planning

The private client practice of our firm focuses on advising private clients on estate planning, will drafting and establishment of trusts, taxation of trusts, wealth preservation and transition between generations with special expertise in cross-border planning. Our vast experience allows us to advise individuals, international families, trustees, family offices and other professional advisors.

In addition to services during the planning stages, we also provide services in connection with estate administration and specialize in probate/ inheritance proceedings for estates of non-residents, including executorship appointment of an Israeli resident and/or legal advice to heirs in the probate/inheritance process and the release of Israeli assets to foreign residents.

We also advise on planning via trust structures, draft trust documents and act as trustees in designated structures.

Trusts

We have unique expertise in advising on establishing and managing trust structures in Israel and abroad. We also specialize in advising on the taxation of trusts in Israel, whether Israeli or foreign trusts, based on the country of residence of the settlors and the beneficiaries and the location of the trust assets.

In addition, we act as fiduciaries in trust structures, mainly the Israeli Hekdesh or foreign trusts settled by Israeli residents.

Wills

Our firm advises Israeli residents and non-residents on drafting wills, as well as on succession legislation in Israel and private international laws applicable to cross border matters.

Foreign residents owning assets in Israel should execute separate Israeli wills as the obligatory Israeli probate process will be simpler and more efficient.

For Israeli residents, the transfer of assets to heirs will be less burdensome if a will is executed, especially where the decedent owned assets in more than one country.

As a foreign resident, why do I need an Israeli will?

  • Probate proceedings are commenced in Israel if you own Israeli assets.
    The process may require up to a year.

 

  • The Israeli will is specific to Israeli assets and doesn’t include provisions relating to foreign laws.

 

  • The probate process will be simpler and faster.

Durable Power of Attorney

Our attorneys are qualified and specialize in advising and guiding private clients on the durable power of attorney process, the completion and filing of the forms, including detailed explanations of the legislation and the permitted instructions in Hebrew and English.

We also specialize in advising on cross border issues with respect to planning for incapacity.

As a foreign resident owning assets in Israel, how do I plan for incapacity?

  • The durable power of attorney in Israel is a form filed with the Administrator General.

 

  • It must be signed by the principal in Israel before a qualified attorney.

 

  • A non resident may sign the durable power of attorney with a legal opinion from country of residence.

 

  • The execution of a durable power of attorney will simplify cross border management of assets rather than appointment of a legal guardian.

Estate Administration

The transfer of assets of a non resident decedent requires inheritance/probate proceedings in Israel as there is no recognition of foreign probate court orders in Israel. The process is lengthy and burdensome and requires original, authenticated documentation and translations.

We advise on estate, probate and inheritance matters with expertise in estates of non-residents with assets in Israel, including agreements between heirs. We act as executors and handle all administrative matters in Israel for non-residents where an Israeli resident executor is required. We handle estates holding real property and act in connection with transactions in the real property, financial/bank accounts in Israel, and private equity investments and act in connection with the transfer of the funds to foreign residents.

International Banking

The Israeli banking system requires special expertise in financial transactions especially with respect to international transactions.

Our firm provides assistance with private banking services with unique knowledge of FATCA/CRS rules and requirements. We guide clients in following the Israeli banks' due diligence requests and allowing international banking transactions, especially for new immigrants.

We also have expertise in representing non resident heirs of estates holding bank accounts in Israel in transferring the funds to the non resident heirs.

Pre-Immigration Planning

We advise non residents and returning Israelis on tax laws with respect to immigration to Israel. Israel's unique legislation allows new immigrants and certain Israeli citizens who resided abroad to enjoy generous tax benefits upon obtaining Israeli residence solely on their foreign income and assets.

This area requires a review of Israeli residence status, location of assets and investments and the timing of the liquidation. In addition, careful consideration is required in reviewing sources of income upon immigration to determine foreign source income.

Real Property

We advise on all aspects of real property transactions in Israel. We review the legal status of the property prior to the transaction, coordinate with other professionals such as brokers and appraisers, draft agreements in accordance with the transaction and undertake the relevant negotiation and implementation of the agreements through to their completion. We represent clients in complex real property transactions, including those involving trust structures, and those requiring zoning and town planning procedures before the relevant authorities.

We also represent clients in estate administration and registering real property rights with the relevant authorities following Israeli inheritance/probate proceedings.

Company Law / Employment Law

We provide a full range of services for Israeli and foreign companies operating in Israel. This includes the establishment and incorporation of companies, drafting of shareholders’ agreements and articles of association, as well as ongoing advice for the company’s business activities, including advice on employment issues.

CONTACT

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