Article published in the Magazine Private Banking January 2024
Dr. Alon Kaplan and Meytal Lieberman
In recent years, newspapers have published reports of “blind Trust” in connection with a mechanism designed to prevent conflicts of interest of public servant (“the official”)l, such as ministers and the prime minister. In the United States, blind trusts are regulated by the Ethics in Government Act of 1978. This law defines the conditions under which the official may hold assets, under via af blind trust, and these are: First, the trust must be held separately from the official and managed independently. Second, the trust is prohibited from including restrictions on the sale or transfer of assets. Third, the official is prohibited from receiving any information about the trust except for quarterly updates regarding its value, income and losses for the purpose of filing tax reports.
What is this “blind Trust” and what does it come to prevent?
- Published in Articles, Books, Business, Family office
INTERGENERATIONAL TRANSFER OF A FAMILY BUSINESS
Alon Kaplan
Many businesses in Israel are owned and managed by families. In many cases, the businesses’ founders are the family’s father or mother, although there are also businesses that brothers and sisters establish. The result is that the founders of the businesses may include individuals who have established a successful business and have a family, second or even third generation, for whom the founders seek an estate planning program and preparation of legal business infrastructure for the intergenerational transfer of the business and its management. Below, we will refer to the business founders in the singular
- Published in Articles, Books, Business, Family office
Life Cycle of a Family Business
Editor(s): Barbara R Hauser and Alon Kaplan
The ‘life cycle’ of a family business is a fascinating process. Beginning with the initial entrepreneur starting the business, it encompasses the development of the business to success, involvement of family members in the business, estate planning, preparation for integration of the next generation, creating a family constitution to regulate relationships among family members, and creating a family trust when appropriate. The completion of the cycle then gives the option of continuing – to potentially become one of the one-hundred-year businesses. This Special Report is a one-stop collection bringing together a distinguished team of international contributors, each an expert in their respective field with a global reputation, to cover the entire life cycle of a family business. It provides guidance on many of the key issues encountered including governance issues, protecting the family business assets, fostering entrepreneurship and succession planning. Life Cycle of Family Business is a unique source of knowledge for family businesses and professionals working in this specialist field. In this very readable single volume – edited by Barbara R Hauser and Alon Kaplan – those involved in family businesses can benefit from its expert guidance, at any stage of the life cycle.
(more…)- Published in Books
Trusts in Prime Jurisdictions Fifth edition
Consulting editor(s): Alon Kaplan; Advisory Editor: Barbara R Hauser
Trusts in Prime Jurisdictions, Fifth Edition
As globalisation continues apace, opportunities are arising for practitioners
in trust jurisdictions that did not exist a few years ago. Growth also continues in
the traditional trust jurisdictions, especially in civil law jurisdictions where trusts
and foundations have previously been used in a limited capacity. In parallel,
the concept of the foundation has been adopted by several common law
jurisdictions that, until recently, have relied exclusively on trusts – notably
Jersey and Gibraltar.
This ffth edition of Trusts in Prime Jurisdictions has been fully updated and
features chapters on topics including trusts and real estate trusts in Israel,
what it means to be a fduciary family offce, the role of the trust protector,
Islamic (Waqf) trusts and trusts in relation to divorce. In addition, new for this
edition are chapters on Bermuda, Germany and Italy.
Produced in association with STEP, this edition is an essential resource on
the use of trusts in a wide range of important jurisdictions and contexts.
It also examines related topics such as trust taxation, anti-money laundering
laws, the Common Reporting Standard, exchange of information and
transparency of registers, among others.
Written by leading professionals and recognised academics, many of whom
are STEP members, the ffth edition of Trusts in Prime Jurisdictions provides
invaluable guidance for all lawyers, trust practitioners and banking professionals
working in the feld.
- Published in Books
Trust & Estate Planning in Israel
Alon Kaplan
This comprehensive guide provides all that practitioners need to grasp the benefits of trusts as practiced in modern-day Israel. Its author, Alon Kaplan, founder and president in Israel of STEP, brings readers much needed insight into the historical, cultural, and legislative context that has contributed alike will find a firm guide-rope in his succinct, practical analyses and will become familiar with:
- The basic terminology and principles behind trusts.
- The different ways a trust can be created under Israeli law – by law, by contract, by will or by unilateral deed of Hekdesh.
- The Israeli law of charitable trusts and power of attorney.
- Tax opportunities applicable to trusts of real property.
- Trust taxation under current Israeli law.
- Special issues concerning trust protectors and the privilege and confidentiality of trustees, the substantive jurisdiction of the court.
- The use foreign trusts in Israel, arbitration, the international jurisdiction of the court in trust matters.
- Information equally useful to the Jewish, Christian and Muslim communities.
- The possible future development of aspects related to the administration of trusts.
Israel’s vast immigration and economic growth have presented special challenges relative to the management of private wealth. For anyone interested in knowing about trusts in Israel and their creation and management, there is no other resource like this.
STEP (Society of Trust and Estate Practitioners) is a worldwide professional organization comprised of attorneys, accountants, and trust and estate specialist from 95 countries around the globe. Its mission is to promote high professional standards, educate professionals, connect advisors and families globally, inform public policy and act in the public interest.
STEP offers the only known organized diploma course on trusts existing in Israel.
(more…)- Published in Books
Alon Kaplan, Author
Trusts in Israel traces the trust concept in Israel from its historical roots, through early 20th century application of European legal structures enabling the use of trusts for land acquisition in Ottoman times, private/commercial use during the British Mandate, and to current use of common-law trusts, the basis of Israeli trust law. The creation of trusts by law, by contract, by hekdesh deed (an Israeli trust) and testamentary trusts are examined. Public and charitable trusts are explored, and special attention is given to trust protectors, privilege and confidentiality, court jurisdiction, arbitration, taxation and foreign trust recognition.
Admitted to the Israel Bar in 1970, Alon Kaplan is also licensed to practice law in New York and Germany. He practices trust law in Tel Aviv, and lectures on that subject at Tel Aviv University. Alon is the founder and president of the Israel Branch of the Society of Trust and Estate Practitioners, general editor of Trusts in Prime Jurisdictions, and was also editor of Israeli Business Law: An Essential Guide.
- Published in Books
Alon Kaplan
- Published in Books
Alon Kaplan, General Editor
Israeli Business Law: An Essential Guide is an indispensable reference work for lawyers, accountants and business people interested in the legal, tax and business environment in Israel. The earlier edition of Israeli Business Law: An Essential Guide has proven to be such a success, that the need for a second printing and revised edition has become apparent. The book is arranged into eight broad topics written by experts in their fields, including judges, lawyers, tax experts from Israel and abroad, and other professionals. It also covers aspects of the peace process and business law in the Palestinian Autonomous Areas. This revised edition takes into account recent legislation in Exchange Control regulations, taxation and company law, as well as the latest developments in the peace process. In addition, chapters on Private Banking and E-commerce have been added. For easy use, an index has been included.
- Published in Books
Israel Law and Business Guide
Alon Kaplan, General Editor
Israel Law and Business Guide is the first English language book on the subject. It comprises 45 chapters arranged in five broad topics, written by experts in their relevant fields, including judges, lawyers, tax experts and other professionals.
With the publication of Israel Law and Business Guide, overseas investors can have at their fingertips the first concise resource in English to business law, related legal issues and the basics of starting and operating a business in Israel.
- Published in Books
