Should you have a separate Israeli Will?

homeadmin — Mon, 03 Aug 2020 19:10:28 +0000

If you own a property, have funds in a bank account or own other assets in Israel, these will pass more efficiently and quickly to your heirs if you have a separate Israeli will, for the following reasons:

Foreign wills are usually complex and contain trusts and other tax planning structures which serve a purpose in your country of residence but which may not be effective in Israel. As a result, it can be much quicker and simpler to get probate of a simple will covering only property in Israel. Death is not a taxable event in Israel and there is currently no inheritance or estate tax.
Identification here is by number and not by name and so it is extremely important to have a will which identifies you by the number with which you are registered as the owner of your Israeli property (usually passport numbers for non-Israeli citizens).If you make Aliyah (take up Israeli citizenship) at any future date, we strongly suggest that all assets are re-registered with their Israeli ID numbers and that the wills are updated to refer to this number for identification purposes.
The probate registry has a discretion to accept documents in English but they are less likely to do so if the will is long and complex.
The Israeli court will not appoint executors who are not resident in Israel so you may wish to provide for separate executors here.
An original will is required for probate here and in the absence of this, a specific application must be made to allow a copy to be submitted.

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Should you have a separate Israeli Will?