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
Estate planning for the family business
Alon Kaplan, Meytal Liberman
This article provides an overview of the factors to be considered in order to structure and grow a family business in Israel.
- Published in Articles
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
Inheritance Law and Procedure in Israel
Alon Kaplan & Meytal Liberman
- Published in Articles
Alon Kaplan
- Published in Articles
- Published in Books
Israel Trusts and Estate
Israel has been ‘home’ for many international families with a connection to the country both from an emotional “sense of belonging” as well as from a financial perspective “the start-up Nation” and involvement of international large companies such as Intel, Google Apple and Facebook.
(more…)- Published in Blog
A new voluntary disclosure procedure is expected soon
- Published in Blog
- Published in Books