Estate planning is a subject that many people try to avoid. Planning for death is never easy but if you have assets that you want to pass down to specific beneficiaries, consult David Page Law for your US and Israel estate planning needs.
David Page Law has the experience and know-how to help you coordinate an estate plan that will safeguard both your wishes and the best interests of your heirs in both the United States and in Israel. By creating an estate plan with David Page Law you will ensure that any people or organizations that are to inherit your assets will be protected against bureaucratic wrangling, excessive tax burdens and court challenges in both Israel and America.
An estate plan includes
- instructions for how your assets are to be distributed among family members in case of incapacitation or death
- instructions regarding beneficiaries of any life insurance policies
- instructions for your care if you become disabled
- a plan for the care of any minor children or a special needs family members
- philanthropic gifts
Legal experts advise people to execute a will or an estate plan. The type of estate planning that you need will depend on the size of your estate and on the people/organizations that you want to name as beneficiaries. With a valid Israel-American estate plan, your heirs will experience reduced tax burdens, reduced and less expensive probate processes and assurances that the distribution of assets will be accepted by the court systems of both the United States and Israel as well as of any specific American states.
No one likes to think about their death but if you delay creating an estate plan, you run the risk of having your wishes disregarded about how you want your estate to be divided.
The Estate Plan
Most people are familiar with a will which is a simple document that spells out your vision of how you want your property to be distributed in case you become incapacitated or die. The estate plan is one step above a will. Like a will, it deals with the distribution of legacy wishes and assets but it reduces the fees, court costs and taxes that your heirs might have to pay.
In recent years, some law offices have put estate planning documents up online to give people a cheap alternative to the services of a law firm. Legal analysts warn that such practices carry a significant risk, especially when it comes to making sure that the estate plan will be accepted in both Israel and the United States as well as in specific American states. Additionally, these online documents offer no protection against the multiple tax burdens that your heirs may face if the documents are improperly drawn up.
David Page Law specializes in both Israel estate planning law and American estate planning law. The David Page law office will assess your unique situation to find the best approach for you so that your estate plan will be recognized and honored in all jurisdictions.
Legal experts advise people to execute a will or an estate plan. The type of estate planning that you need will depend on the size of your estate and on the people/organizations that you want to name as beneficiaries.