Inheritance Law and Lasting Power of Attorney

Wills, estates, and Lasting Power of Attorney are terms that cause people to cringe when mentioned. One doesn't have to be a procrastinator to identify those terms with old age and avoid dealing with them. To do so, however, is a grave mistake.

A.  Wills

It is not uncommon to have tensions built between spouses or siblings through long years of living together. When a parent is gone, those tensions might erupt into a full scale bitter war, often sparked by quarrels over 'who will have father's watch' or 'who will have mother's necklace.'

Without a will, according to Israeli Inheritance law, part of one's estate might become the property of a stranger, should the living spouse remarry.

 A well-planned will should prevent disputes and be successfully probated and allocate different components of the estate to save the beneficiaries from unnecessary taxation.

B.  Lasting power of attorney

While a will is a device that comes into use only after a person passes away, Lasting Power of Attorney (LPA) is a tool to be employed only as long as the person signing it is alive.

LPA replaces the appointment of a guardian by the court. Without an LPA, once a person is incapable of making his own decisions – if he is no longer lucid or undergoes certain medical treatments – his family needs to apply for a guardian. Not only does this take time, but the guardian is solely committed to instructions given by the court. Additionally, the guardian must submit periodic reports, which often becomes a burden.

Using an LPA, a person can avoid all that hassle and decide what will come into effect when that person can no longer make decisions for himself. He can determine:

• what happens to his property,
• his personal affairs (e.g., instructing that he should not transfer to a nursing home)
• medical matters (e.g., refusing specific procedures)
• who he authorizes through the LPA (e.g., one person or more)
• whether this person needs to consult with others
• the particular conditions under which the LPA comes into effect

In short – the person who signs an LPA retains control over his future, even when he can no longer make decisions.

Emanuel Weiser knows the ins and outs of inheritance law and understands the dynamics of family relationships. He offers his extensive experience in drafting wills and LPAs to ensure that you do not leave your loved ones in a state of strife and dispute.