Israeli Succession Lawyer
Succession law, also known as inheritance law, governs the transfer of assets and property from one generation to another upon the death of an individual. In Israel, succession law is primarily governed by the Succession Law, 1965, with the help of an experienced Israeli succession lawyer.
As an Israeli succession lawyer, it is crucial to have a deep understanding of the legal framework and regulations surrounding succession in order to effectively assist clients in transferring their assets and property in accordance with their wishes.
Overview of the Succession Law, 1965.
The Succession Law, of 1965 sets forth the general principles for the distribution of an individual’s assets and property upon their death. The law applies to individuals who are considered “Israelis” under the law, including those who are citizens of Israel or who have lived in Israel for a significant portion of their lives.
Under the Succession Law, of 1965, an individual’s assets and property are divided into two categories: testamentary property and intestate property. Testamentary property refers to assets and property that are specifically designated in a valid will, while intestate property refers to assets and property that are not designated in a will and are subject to distribution according to the laws of succession.
Intestate Succession in Israel.
In the absence of a valid will, the Succession Law, 1965 sets forth the rules for the distribution of an individual’s intestate property. These rules prioritize the deceased individual’s closest relatives, starting with their spouse and children. If the deceased individual did not have a spouse or children, the property is distributed to their parents or siblings.
It is important to note that under Israeli law, adopted children are considered the same as biological children for the purposes of intestate succession. Additionally, if the deceased individual was married at the time of their death, their spouse is entitled to a portion of their intestate property, regardless of whether they were specifically mentioned in the will.
Testamentary Succession in Israel.
When an individual has a valid will, their testamentary property is distributed in accordance with the provisions set forth in the will. In order for a will to be considered valid in Israel, it must meet certain formal requirements, such as being signed by the testator (the individual making the will) in the presence of two witnesses.
It is important for Israeli succession lawyers to carefully review a client’s will to ensure that it meets the requirements for validity and to advise on any necessary modifications. Additionally, Israeli succession lawyers can assist clients in drafting a will that accurately reflects their wishes and complies with the legal requirements.
Israeli Succession Lawyer – Tax.
In addition to the Succession Law, 1965, the Israeli Inheritance Tax Ordinance governs the taxation of inheritances in Israel. Under the Ordinance, inheritance tax is imposed on the transfer of assets and property from one generation to another. This order was canceled in 1981, so to an Israeli resident, there is no inheritance tax.
As an Israeli succession lawyer, it is important to be familiar with the provisions of the Inheritance Tax for non-residents and to advise clients on their obligations and potential tax liabilities in connection with the transfer of assets and property.
In conclusion, succession law in Israel is governed by the Succession Law, 1965. As an Israeli succession lawyer, it is important to have a thorough understanding of the legal framework and regulations surrounding succession in order to effectively assist clients in the transfer of their assets and property. Whether the client has a valid will or their assets are subject to intestate succession, it is the responsibility of the succession lawyer to ensure that the distribution of assets and property is in accordance with the law and the client’s wishes.
Additionally, it is important for succession lawyers to be knowledgeable about the provisions of the non-resident’s Tax laws and to advise clients on their potential tax liabilities in connection with the transfer of assets and property.
In practice, succession law can be complex and emotionally charged, especially in cases where there are disagreements among beneficiaries or where the deceased individual’s wishes are unclear. As such, it is essential for Israeli succession lawyers to approach each case with sensitivity and to provide clear, practical guidance to their clients throughout the process.
In conclusion, the role of the Israeli succession lawyer is vital in ensuring that the transfer of assets and property upon an individual’s death is handled efficiently, fairly, and in accordance with the law. With their deep knowledge of the Succession Law, 1965, succession lawyers play a crucial role in protecting the interests of their clients and helping them navigate the often complex and challenging process of succession.
Succession Law, 1965.
Eli Shimony – Israeli law firm represents clients on all legal matters in Israel. For any questions please contact us and we will be happy to assist.
By email: [email protected], By phone: +972-52-2769773, +972-3-5507155.
The above is only general information and does not replace legal advice which is usually necessary before taking legal proceedings.