Estate Attorney In Israel Helping Clients Prepare For The Future
With the challenges of day-to-day life, it can feel daunting to look too far into the future. While people may place money into a savings or retirement account to prepare for emergencies or when they no longer need to work, many put off estate planning because they believe it will only be necessary when they are “older.” Unfortunately, accidents, injuries, and health emergencies can occur at any stage of life. Once you are incapacitated, it is too late to take legal action, and important decisions regarding your person and estate may be left up to the courts.
It is vital to have a plan in place to ensure your family’s well-being and financial stability should the unimaginable happen. With knowledge of both US and Israeli law, Hait Family Law can simplify the estate planning process and help you create and maintain a robust plan throughout all your life’s stages.
What Is Estate Planning And Why Is It Important?
Estate planning is a broad topic. It covers the creation of plans for handling your finances, property, and healthcare in the event that you become incapacitated or pass away and can no longer make these critical decisions. Many people think estate planning is only necessary for people of advanced age or those with large estates. However, the reality is that everyone can benefit from the creation of a robust estate plan. In fact, estate plans may be most valuable for families of modest means because they are the ones who are in danger of suffering the greatest financial harm due to the unexpected loss of a providing loved one.
An estate planning lawyer in Jerusalem can help you build a solid plan that meets your unique needs and goals. Topics that the documents in your estate plan may address include:
- Creating a will to guide the distribution of your assets following your death.
- Naming a trusted executor for your estate to ensure the terms of your will are followed.
- Setting up trusts or utilizing other financial planning tools to protect your loved ones’ inheritance from excessive taxes or delays due to probate.
- Ensuring the succession of your businesses in the event of your incapacitation or death.
- Naming a guardian for your minor children or loved ones with special needs if you are unable to care for them.
- Making certain a common-law spouse is recognized and eligible to inherit from your estate.
- Defining your wishes for your health care if you can no longer voice your opinion.
- Designating beneficiaries for retirement funds and life insurance policies.
