A will sets out how your estate should be distributed after your death. Where the main assets are a home, several properties or a family business, planning also needs to address what happens after that distribution: who can live in a property, who will manage it and how the beneficiaries will make decisions.
Adv. Asaf Arazi-Biton prepares wills with attention to property law and family wealth planning. The work connects your wishes with the rights you own, your family’s needs and existing obligations, so that the instructions reflect the assets and circumstances the family will actually face.
Leaving a home in equal shares may create joint ownership between people with different needs: one wants to live there, another needs rental income and a third would prefer to sell. Consider whether this is the intended result and whether other arrangements, such as allocating different assets or defining rights of use, should be explored within the estate and the applicable law.
If you want a spouse to remain in the home and the property later to pass to children, the respective rights need careful definition. A family business raises a related distinction between inheriting an economic interest and continuing to manage the business. Company documents and existing agreements need to be considered alongside the will.
These questions also matter when there is only one home. A second marriage, children from earlier relationships, a mortgage or shared ownership may shape the planning more than the number of properties.
The process starts with your objectives and family circumstances. It then considers ownership, associated debts and arrangements already made in wills, financial agreements or business documents. Someone who owns only part of an apartment cannot use their will to dispose of another owner’s share.
The alternatives are examined against the beneficiaries’ needs for housing and income, their ability to manage shared property and the future of the business. Foreign assets, beneficiary designations and possible tax consequences may require additional advice. The will is considered within a broader family wealth and intergenerational plan.
Clear provisions are prepared with attention to identifying assets, what happens if a beneficiary cannot inherit and possible changes in the estate. The appropriate signing procedure, safekeeping and deposit options are explained. Deposit helps the will be located; it does not replace the probate procedure after death.
Prepare an outline of your family, assets and main obligations, together with any earlier will, financial agreement, ownership documents and business agreements. Note unresolved questions, such as keeping a property in the family or providing a home for a spouse. You need not decide every issue beforehand.
Not necessarily. Assets of similar value may differ in income, debt, liquidity and management demands. The discussion explores what a fair distribution means to you and how that intention can be expressed in workable provisions.
After a significant family change, a property purchase or sale, a business change or a change in your wishes. The review considers whether the provisions still fit. Mutual wills require particular attention to restrictions on changes under the law and the existing wording.
No. That is a separate issue addressed, where appropriate, through an enduring power of attorney. The documents should be coordinated, but serve different purposes.
For further guidance, read about wills for real estate assets in Israel and the office’s professional background.
To discuss your wishes and how they can be reflected in a will, contact the office.
Disclaimer: The information in this article is provided for general informational purposes only and does not constitute legal advice, a legal opinion, or a substitute for individual advice from an attorney. Each case should be reviewed according to its specific circumstances, and it is recommended to consult an attorney before making any decision or taking action.
