Hait Family Law

Estate Planning

What is estate planning?

Estate planning is more than just having a will. It involves creating comprehensive plans for handling your finances, property, and healthcare in case you become incapacitated or pass away. It’s about being smart and preparing for the future and unpredictable events.

Estate Planning Is for Everyone

At Hait Family Law, we know estate planning isn’t only for retirees or the wealthy, especially in Israel. Illness and accidents can happen to anyone, regardless of age. Good estate planning is especially crucial for families with modest assets because the financial impact of poor planning can be more severe.

Too Many People Do Not Plan

Many people delay estate planning, thinking they don’t own enough, aren’t old enough, or that it’s too costly or confusing. Unfortunately, when something happens, their families are left to manage the consequences.

Why is Estate Planning Important?

Estate planning covers decisions about money, property, medical care, and dependent care after death. The primary benefit is peace of mind—knowing your wishes will be fulfilled for your loved ones’ benefit. Everyone should have at least a simple estate plan in place.

The benefits of estate planning

Peace of Mind

Ensure your wishes are carried out for your loved ones.

Financial Security

Protect your family’s financial well-being by minimizing taxes, legal fees, and court costs.

Asset Distribution

Control how and when your assets are given to your beneficiaries.

Trusts and Wills

Use tools like trusts to protect inheritance from taxes or probate delays.

Guardianship

Name guardians for minor children or loved ones with special needs.

Healthcare Preferences

Specify your healthcare wishes if you can no longer voice your opinion.

Digital Assets

Include provisions for digital assets like domain names, social media accounts, and emails.

Key documents in estate planning

Wills: Guides asset distribution after death.

Trusts: Protects inheritance from taxes and delays.

Powers of Attorney: Appoints someone to make decisions on your behalf.

Living Wills: Specifies healthcare preferences.
Continuing Powers of Attorneys:  Documents enabling decision-making across various areas including health, finances, legal and personal matters. For when Individuals can no longer manage their affairs, they prefer trusted close ones to make decisions over a court-appointed guardian.

 

Get legal guidance

Estate planning is an ongoing process that should be reviewed and updated as your circumstances change. Consulting with a lawyer with expertise in estate planning can help you build a solid plan that meets your unique needs and goals.

Contact Hait Family Law for expert legal advice on estate planning.

By working with a lawyer familiar with Estate Planning in Israel, you can ensure your wishes for your estate satisfy all legal preventing your family from facing contentious and costly litigation over your estate.

Contact us today to schedule a call to find out how we can help you plan for the future.

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