Beyond the Basic Will
For high-net-worth families, a standard will is a starting point — not a complete estate plan. Estates that include business interests, multiple properties, international assets, significant investment portfolios, or complex family structures require a coordinated strategy that addresses succession, tax, governance, and family harmony together.
Key Planning Components
- Business succession plan: How will the family business be managed and owned after the founder's death? A shareholders' agreement, buy-sell agreement, or trust structure should be in place before it is needed.
- International assets: Assets in multiple countries require multi-jurisdiction estate planning. Each country's succession and tax laws apply to assets located there — an Israeli will does not automatically govern foreign property.
- Trust structures: For significant wealth, a trust may hold family real estate, investment portfolios, or business interests — with professionally managed governance and beneficiary protections.
- Liquidity planning: Estates heavy in illiquid assets (property, business) may face practical difficulties meeting debts and bequests. Life insurance or liquid reserves may be needed.
Does an Israeli will cover assets held abroad?
Not automatically. Each country applies its own succession laws to assets located within its territory. An Israeli will may be recognised abroad through international conventions, but it is generally advisable to prepare a local will (or at minimum, a local codicil) in each country where significant assets are held — particularly for real estate. Working with attorneys in each relevant jurisdiction ensures complete and consistent coverage.
