The difference between an American and Israeli Power of Attorney

Why are US power of attorneys not valid in Israel? How does one go about getting a legal power of attorney in Israel?

Tags: Radio
Douglas Goldstein ,

Attorney in Israel
Attorney in Israel

Doug Goldstein, CFP and director of Profile Investment Services Ltd., and Russell Mayer, a Senior Partner at Livnat Mayer & Company, compare the function of a U.S. power of attorney to an Israeli one.

In short, the American power of attorney is useless once the person has left the country. Russell explains why U.S. power of attorneys aren’t valid in Israel and how to go about getting a legal power of attorney in Israel.

Today’s episode also focuses on what happens if you inherit an IRA (Individual Retirement Account). IRAs (are common assets left to loved ones after a passing. Doug explains what someone should do if they inherit an IRA and walks them through the steps of creating a Beneficiary IRA.