David Page Law

Wills and Estate Lawyering in Israel: Trusts and Probate in Israel, the US, and Beyond*

For those with complex or even relatively simpler estate planning needs in Israel, the US, and internationally, there are a few key issues to be addressed:

1. What Is the Law That Governs the Assets?

Depending on where your assets are, you may find yourself subject to multiple laws, requiring a set of will and trust documents in order to minimize administrative problems for executors or trustees for the estate.  For those with both Israeli and US assets, Israeli law certainly apply to any assets held in Israel, while a US trust is the frequent choice of those with American assets as well.

2. What is the Tax Treatment of the Heirs and Beneficiaries?  

In some countries, most especially the United States of America, confiscatory inheritance taxes are imposed on non-resident aliens (people without US citizenship or legal residency), approaching 50% tax rates in many cases.  It is important to plan wisely, including the use of generation-skipping trusts, in order to legally minimize such taxes.

3. Are There Heirs or Beneficiaries With Special Needs?  

Occasionally an heir or a beneficiary is struggling with substance abuse, mental health issues, physical health, a difficult divorce or custody battle, or a gambling problem, or simply an inability to prudently and competently handle financial issues.  In such a case it makes sense to create a special trust arrangement to effectively address the special needs of such an individual.

4. Who Should be the Executor or Trustee for an Estate?  

Choosing an executor or trustee is very important:  People with prudent judgement, sometimes even more than one person, can be chosen, such as a trusted family member, friend, or professional advisor.  It is also of key importance to pick alternate executors or trustees in case a particular individual is unable or unwilling to serve in that role.

5. When Should You Have a “Living Will” and a Durable Financial Power of Attorney?  

It is important to plan for a time when there may be a temporary or permanent inability to make important healthcare or financial decisions.  For this purpose, an Israeli or US or other “living will” can be executed for people authorized to make important healthcare decisions when you cannot do so.  A durable financial power of attorney document can be executed for important financial decisions.  Obviously in both cases, the individuals chosen have a level of fiduciary responsibility to make good decisions – and not self-serving  decisions – on your behalf.  These documents need to be drafted thoughtfully and carefully.

6. How Can You Keep Current With Changes in the Laws? 

It is important to understand that inheritance and tax laws can change.  For this reason, it is not only important that your legal counsel keep abreast of the issues, but also that there be mechanisms within trust documents, such as the office of the Trust Protector to ensure that legal changes can be effectively incorporated into key decision-making under trust and will structures.

7. Is Probate Necessary?  

That depends where you are, in the US or Israel.  In the US, probate has been largely replaced by trusts, although in the absence of a trust probate in a US probate court of a particular state may be necessary, especially for real estate assets.  In Israel, there is no way around the Israeli Probate Court.  In Europe, many countries will give authority to Israeli probate decisions, depending on how a will is written.

8. A “Halachic Will” For Jewishly Observant People?  

According to most Halachic authorities, it is desirable to have a so-called halachic will in place.  Effectively, this will serves a dual purpose of addressing the need for a halachic will (desirable in itself) and of ensuring that no games can be played via Rabbinical Court (Beit Din) involving the will and trust structure.

* Information contained on this page is not meant to constitute or substitute for specific legal advice addressing actual legal situations as is meant as general guidelines only.  Readers are advised to seek competent legal counsel appropriate and tailored to their particular legal situation.

Pursuant to U.S. Treasury Circular 230, please be advised that any tax advice contained in this communication is not meant to be a Covered Opinion and is not meant or drafted, and may not be used, for the purpose of either avoiding tax-related penalties or promoting, marketing, or recommending any tax-related matters that may be found in this communication.

US and Israel Business Lawyer in Jerusalem

David Page Law provides a complete range of services to businesses that are doing business in Israel, in the United States or in both jurisdictions. The David Page US and Israel business lawyer in Jerusalem has decades of experience in representing both American and Israeli companies including businesses that work internationally. David Page Law is a well-known business law office specializing in representing both public and private companies, investors, start-ups, entrepreneurs and other online and offline platforms.

The David Page Law team provides integrated, cost-efficient legal services for new businesses, established firms, companies that operate internationally and others. David Page is licensed and certified by both the Israel Bar and the Bar in the State of New York which enables him and his team to take care of all legal issues arising in either jurisdiction.

Regardless of whether you need to register your patent or trademark, draw up contracts with your employees, draft agreements with other firms, meet regulatory requirements, help with a merger or buy-out or coordinate your taxes between the two countries, the David Page Law Firm is here to help.

Legal and Commercial Issues

Some businesses, especially small or new businesses, try to take care of their legal issues in-house. They rely on Internet forms and word-of-mouth to try to cover themselves when hiring workers, filing for patents and trademarks, drafting agreements with suppliers and partners and other legal actions.

While such stop-gap moves may save you money in the short run, in the long run they are pennywise and pound foolish. There are dozens of issues that such a system neglects to cover which are compounded with a business that is obligated to adhere to laws of two countries. Additionally, if you haven’t been working with a lawyer to put your business in order, you will be hard-pressed to find a law office that will represent you if you find yourself in court.

Even if you think that doing the legal work yourself will save you money or will get your business up and running more quickly, think again. Any legal technicality in either jurisdiction can lead to catastrophic losses that can land you in legal trouble and cripple your business. An experienced and knowledgeable US and Israel business lawyer in Jerusalem who is conversant with both American and Israeli law will ensure that you safeguard yourself personally and your business in case of future questions or challenges.

Choosing a US-Business Lawyer

When selecting a lawyer for US and Israeli business needs, you’ll need a law office like David Page Law that is fully bi-lingual, has experience in guiding clients as they enter the marketplace, knows how to help you limit your risk exposure and will assist you as your business grows and expands. Entrepreneurs are especially vulnerable to neglecting to cover all their bases as they rush to get their product or service into the marketplace and they need a law firm that knows how to focus on details of a start-up enterprise.

Top Israel-US Business Lawyer in Jerusalem

If you’re looking for a top Israel-US business Lawyer in Jerusalem who specializes in

• Corporate compliance laws
• Intellectual property laws
• Employment laws
• Shareholder agreements
• International tax laws

and other issues pertaining to US-Israel business law, call David Page Law Office today.

A Good Intellectual Property Strategy Is a High-Impact Value Strategy*

As any company with valuable patents, designs, trademarks, brandnames, and know-how knows, intellectual property can be a daunting matter. The costs are high and the stakes are even higher: Any lack of coverage in a given country can lead to devastating loss of a great new product or idea in a market where you aren’t covered. The following are basic considerations:

1. Where are the key markets to cover?

1.While it would be desirable to gain global IP coverage for a patent or trademark, costs are prohibitive. Thus it is best to concentrate on those markets where your company plans to compete, sell, and market in the near to medium term.

2. What are the key manufacturing centers to cover? 

It is well known that China is the global manufacturer of many products and technologies, followed by Korea, India, and others. It is important to understand where your product might be “knocked off” or somehow reverse-engineered by unscrupulous manufacturers. You can seek coverage there. In recent years, China has attempted to shore up its compliance with global IP norms, and there is enforcement there of Chinese patents and trademarks.

3. What are the advantages of less robust IP strategies such as design patents and copyrights? 

3.While copyrights and design patents are in many ways weaker than their stronger cousins the trademark and the patent, it is sometimes worth considering them in particular contexts. For example, in the case of music and motion pictures, copyrights have pride of place, and for unique designs, the design patent can in some cases be useful.

4. How to determine state of the art – is your patent new and inventive enough?

4.It is important to perform a thorough analysis of the state of the art in a given area in order to determine whether an invention or technology is truly patentable and whether that patent will be strong enough and easily enough defended. For this purpose, a thorough state of the art of existing patents is advisable, and often across jurisdictions, such as in the US, EU, and China.

5. The Patent Cooperation Treaty (PCT) as a placeholder?

One useful way to put off a definitive decision about where to seek patent protection for a couple of years is to register your patent under the PCT, of which most significant countries for business are members. In that way, you can decide later in which countries you wish to seek patent protection.

* Information contained on this page is not meant to constitute or substitute for specific legal advice addressing actual legal situations as is meant as general guidelines only. Readers are advised to seek competent legal counsel appropriate and tailored to their particular legal situation.

Real Estate Lawyer

David Page Law presides over a real estate practice that encompasses the gamut of real estate matters in commercial and residential real estate projects in Israel.

1. Due Diligence Into Real Estate Projects

We perform due diligence into real estate investments in Israel to ensure to the extent possible that there are no nasty surprises regarding title to the property, zoning, or other legal obstacles.

2. Crafting Legal Documents

We draft and review and edits purchase contracts for real estate and shepherd real estate projects through from contracts with general contractors, architects, and others to minimize problems before they start from a legal point of view.

3. TAMA 38-1 and TAMA 38-2 Projects

We have broad experience in TAMA 38 projects both from the developer and tenant sides, including everything from tenant consent and developer negotiations to approvals by the municipality.

4. Taxation

Our attorneys deal with complex issues of real estate taxation, including acquisition, appreciation, and international taxation matters.

5. Transfer of Real Property

Our attorneys deal with transfers of real property, including by and to non-residents and trusts and including via wills and testamentary and probate orders.