Transferring wealth, assets or businesses within a family requires careful preparation. Whether the transfer takes place during your lifetime or after your passing, advance planning helps avoid tax mistakes, legal errors, business pitfalls and family disputes.
The transfer of family wealth is relevant to a wide range of situations. It applies to family-owned businesses, owners of one or two properties and investment portfolios, agricultural estates, family-owned companies, factories and independent professionals in various fields, high-tech entrepreneurs & employees before or after an “exit” or share allocation, as well as young families with children
Gifting assets to children, spouses or relatives, or planning for a family member to join the family business, are matters that should be handled with proper legal guidance. Even receiving assets during the lifetime of the owner or after their passing involves legal and tax considerations that require expert advice.
Family disputes are more common than many people think. They can be prevented through early planning by a professional who understands business law, wills, prenuptial agreements, trusts, family agreements, company law, contracts, inheritance law in Israel and abroad, relevant taxation, and real estate.
Family wealth should serve as a foundation for growth, not as a source of division. Along with the importance of arranging the transfer of assets well in advance, it is equally important to clarify how family members can use and share existing assets at any stage.
Disagreements often arise from issues such as a family member joining the business, income from investment properties, financial assistance to certain children, or gifts to grandchildren.
Many families believe that having a will is enough to prevent conflict. While a will is important, it does not guarantee that assets will be distributed exactly as intended, and does not preserve the family assets for a long term. A will may also not prevent the surviving spouse from making decisions that could reduce the estate or change its intended distribution.
With early planning, it is possible to address many situations in advance, protect the family’s assets, maintain healthy relationships, and prevent problems before they appear. This responsibility often lies with the heads of the family while they are alive and able to make clear decisions.
The costs of resolving legal disputes or fixing mistakes in asset transfers after the fact can be substantial. Preventing these issues through advance planning is far more effective.
For example, siblings may feel resentment if they believe one received more than their fair share, whether in the form of a larger property, a valuable asset, or more support during the parents’ lifetime. In the case of agricultural estates, which may be inherited by only one designated successor (in Israel), disputes can become both financial and emotional. These issues can be resolved before they escalate.
Our firm specializes in advising families on how to preserve, protect assets and design clear frameworks for the use and transfer of wealth between generations.
The process begins with mapping all family assets and rethinking their importance, even if they include only one or two properties, a parcel of land, company shares, or funds held in various accounts or savings plans.
Next, we review the existing inheritance or arrangements, such as wills that may need to be updated, potential or existing trusts, prenups and the costs involved in establishing legal structures that suit the family’s needs and values.
Finally, it is essential to work with a professional who has specific expertise in this area. Not every lawyer who handles wills and estates has the multi-disciplinary knowledge needed for comprehensive family wealth planning.
Many families have significant assets that need to be preserved. It is both possible and advisable to prevent tax issues, legal errors and disputes in advance, ensuring protection for both the family’s property and its internal relationships.
Our attorneys have extensive experience in family wealth planning, intergenerational asset transfers, advising family-owned businesses, handling complex real estate transactions with an emphasis on real estate taxation, and mediating and arbitrating disputes between family members in business contexts.
We are frequently appointed by courts as receivers or liquidators in real estate, inheritance and family disputes, and we manage complex estates both in Israel and abroad.
This experience enables us to provide multi-disciplinary boutique legal services with a forward-looking approach. We help families safeguard their wealth while strengthening their unity for generations to come.
We invite you to schedule an initial consultation to map your family wealth and plan the process with an experienced attorney in this field.
