Israeli Estate Planning: Tip 1 – Gather Your Information

The most essential tip that I can give when thinking about organizing your finances and estate planning is to gather your important information.

Start with this estate planning checklist:

  • Do you have a list of banks accounts in Israel including contact details?
  • Do you have a list of bank accounts outside of Israel including contact details?
  • Do you have a list of real estate in all countries, including legal description, and if possible, title records?
  • Do you have a list of investments/in what name and in what country? If you have an investment advisor, be sure to understand the nature of the investment and what country the investment is “domiciled” and the procedures for transfer of the investment upon death?
  • Do you have a list of all retirement accounts?
  • Do you have a list of insurance policies?
  • When did you last check ALL beneficiary designations to ensure the names and identification numbers were correct (for example, beneficiaries may have married or divorced and have different names than the time that you  named them on the financial instrument)
  • Do you have a method for recording your passwords/online access, whether a simple password book or password software?
  • Have I made an Israeli Will? If not, do I need an Israeli Will?
  • Do I have a Will in another country? Does it need to be reviewed or updated?
  • Have I made an Israeli Enduring Power of Attorney? Who will manage my affairs if I’m not able to?
  • Have I made advanced healthcare directives under Israeli law?

Get in touch to learn more about our Israeli estate planning services.