Drafting a Will
Why is it important to make a will in Israel?
A will is a document that determines how your property will be distributed after your death. It's not just a formal and legal process, but also a way to ensure your wishes are fulfilled in the most reliable manner according to Israeli law.
Here are some reasons why it's important:
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Control over asset distribution: A will allows you to decide exactly who will receive what, and how much. Without a will, asset distribution will be carried out according to Israeli inheritance law, which may not always align with your personal wishes.
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Protection of loved ones: Through a will, you can ensure that your spouse, children, or other family members receive what they deserve. It can also help support relatives who are in financial need.
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Business assets: If you have businesses or complex assets, a will allows you to arrange how they will be managed or divided, which is crucial to avoid future disputes.
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Donations and legacy: If you wish to make donations to organizations or initiatives, a will ensures these goals are achieved.
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Reducing family conflicts: Asset distribution after death can cause conflicts within the family. A detailed and clear will can help prevent arguments and make the division process easier.
Making a will in Israel
Israeli inheritance law allows you to make a will easily and without financial costs. There are four ways to make a will:
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A handwritten will.
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A will signed by witnesses.
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A will made in front of an authority.
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An oral will (under certain circumstances).
Who can make a will in Israel?
Anyone in Israel can make a will, but there are exceptions. For example, minors (those under 18), individuals declared legally incompetent, or individuals who cannot understand the nature of a will due to lack of mental clarity, illness, or injury.
When should you make a will?
It's recommended to make a will as early as possible. While most people do this at an older age, it's important to make a will even at younger ages, especially when there are minor children or a need to arrange asset distribution differently from the legal inheritance in Israel.
The Importance of Using a Lawyer When Drafting a Will
There is no obligation to use a lawyer when preparing a will in Israel, but a professional lawyer can ensure that the will is made according to Israeli law and reflects your wishes in the best possible way. Contact Yechiel Akish – Law Office, we are fully prepared to assist you with any inquiries or requests you may have.