Articles by Year
Middle East Review - Israel – A Country of Immigration
Alon Kaplan, Meytal Liberman
[No Tags] | September 2016
Israel: trusts and foundations resolve joint ownership myth
Alon Kaplan and Lyat Eyal
[No Tags] | July 2016
The article reviews the Israeli Banking Ordinance 1941, whose provisions relating to joint ownership of assets in Israel are quite unique in Israeli law. Non-residents, both clients and professionals, owning assets in Israel, unfamiliar with local laws and accustomed to the laws in their relevant jurisdictions, are often surprised. Estate planning, including the establishment of inter-vivos structures, such as foundations and trusts, may resolve some of the issues. This article will not discuss basic issues but rather the manner in which trusts and foundations may remove various obstacles for non-residents who are not familiar with Israeli laws. For the purpose of this article, we consider the Israeli Hekdesh coupled with an Israeli underlying company as a foundation, as this arrangement may be used to hold assets under a trust in Israel.