What is a Durable Power of Attorney?

A durable power of attorney is an official legal document that allows one person (the principal) to transfer legal and financial powers to another person (the agent) even in situations where the principal is unable to act independently — whether due to health issues, mental incapacity, or any other reason. Unlike an ordinary power of attorney that terminates when the principal loses capacity, a durable power of attorney remains in effect even after the principal can no longer provide legal consent.

This is a critical legal tool that protects your rights and assets when you are unable to manage your affairs independently. In Israel, a durable power of attorney is regulated by the Agency Law (Family Provisions), and it requires a rigorous legal process to ensure that the principal acted with full consent and sound mind.

Durable Power of Attorney for Banking and Daily Expenses

One of the most common uses of a durable power of attorney is the management of bank accounts and daily payments. When a legal adult or senior citizen faces health or cognitive issues, the agent they have appointed can perform banking operations on their behalf, pay bills, and manage their finances. This ensures that the daily necessities of life do not become problematic when the principal is unable to handle them personally.

Durable Power of Attorney for Real Property — A Special Case

A durable power of attorney for real property refers to powers concerning immovable property (real estate). With this power of attorney, the agent can sell, lease, or transfer property on behalf of the principal. This is a special document that may require court approval in certain cases and must be registered with the Land Registry (Tabu).

Why is a Durable Power of Attorney Essential?

In a world where people live longer and some face dementia, stroke, or other serious illnesses, a durable power of attorney is a critical legal safeguard mechanism. It ensures that if you are unable to make decisions, there is someone you trust who can do so on your behalf in accordance with your values and needs. Without it, your family may be forced to petition the court for a guardianship order, a lengthy and more burdensome process.

Steps in the Legal Process for Enduring Power of Attorney

The process of preparing an enduring power of attorney is a meticulous process that requires in-depth legal review and proper documentation. The law office of David Wasserman guides you through every step to ensure the document is legally valid and complies with all legal requirements.

Step 1: Initial Consultation and Determining Powers

In the first step, we meet with you to understand your specific needs. We ask essential questions: Which powers do you want to transfer? Who will be your representative? Do you want the representative to be able to act immediately, or only if you lose your capacity? These answers will help us design a power of attorney that precisely meets your needs.

Step 2: Preparation of the Legal Document

Once we understand your needs, we prepare an enduring power of attorney document that is legally valid and specific to your circumstances. The document must be clear, detailed, and leave no room for misinterpretation. We use precise legal language recognized by banks, government offices, and courts.

Step 3: Signature in the Presence of Witnesses and Attestation

An enduring power of attorney must be signed in the presence of witnesses (typically two unrelated witnesses). Through this attestation, the witnesses confirm that the grantor signed the document freely, with full understanding of its consequences, and without duress or deception. This is a critical step that protects the validity of the document.

Step 4: Approval and Registration if Required

Depending on the type of power of attorney (for example, if it includes real property), additional legal approval or registration with the Land Registry may be required. We handle all regulatory procedures to ensure the document is valid wherever you need it.

Rights of the Grantor and the Agent

An enduring power of attorney creates a legal partnership between the grantor (the one giving the authority) and the agent (the one receiving it). Both have clear rights and obligations that we explain in detail:

• Grantor's Rights: The grantor retains the right to revoke the power of attorney at any time (as long as he or she can provide legal consent), to know what the agent is doing on his or her behalf, and to enjoy legal protection against abuse by the agent.
• Agent's Obligations: The agent must act in good faith, in the interests of the grantor, and not in his or her own interests. The agent must maintain records of all actions taken on behalf of the grantor and be prepared to account for them.
• Legal Protection: If the agent acts in bad faith or misuses his or her powers, the grantor (or his or her family) can file a lawsuit to recover assets or obtain compensation.

How Much Does a Durable Power of Attorney Cost?

The cost of a durable power of attorney varies depending on the complexity of the document, the type of powers you wish to transfer, and whether it includes real estate or more complex legal matters. In Israel, the Israel Bar Association sets a recommended price for a durable power of attorney, but in practice, costs vary between firms and according to the scope of work.

Typical Cost Ranges

Generally, a simple durable power of attorney (for example, banking only) costs between 800 and 1,500 shekel. A more complex durable power of attorney (general, with real estate or legal matters) may cost between 2,000 and 4,500 shekel or more. The law office of David Wasserman offers transparent and honest pricing — we provide you with a clear quote before we begin work.

Durable Power of Attorney Price – Israel Bar Association

The Israel Bar Association publishes a recommended price for a durable power of attorney, but this is merely a guideline. Many law firms adhere to this scale, but some offer lower or higher costs depending on the circumstances. Choosing an experienced attorney like David Wasserman means you are paying for quality, reliability, and legal precision.

What Is Included in the Cost?

When you turn to us for a durable power of attorney, the cost typically includes:

• Initial Legal Consultation: An in-depth discussion of your needs and the appropriate type of power of attorney.
• Document Preparation: Drafting an accurate and legally valid document.
• Review and Editing: Ensuring the document is clear, complete, and error-free.
• Guidance on Signing and Formalities: Instructions on how to sign in the presence of witnesses and other requirements.
• Document Retention: Typically, we keep a copy of the document in our files for future reference.

However, additional costs may arise if you need registration at the Land Registry (for real estate) or court approval, and this depends on your specific circumstances.

Why Choose the Law Office of David Wasserman?

When you invest in a durable power of attorney, you are investing in your future well-being and your family's peace of mind. Choosing an experienced and honest attorney is important. The law office of David Wasserman offers:

• Deep Experience: Years of working with clients regarding durable powers of attorney, wills, inheritance, and family law.
• Personal Attention: You are not just a file — you are a person we care for with professionalism and discretion.
• Transparent Pricing: We do not hide hidden costs. You know exactly what you are paying and for what.
• Strategic Thinking: We do not just draft documents — we think about the best way to protect your rights.

Comparison of Types of Continuing Power of Attorney

To help you decide which type of continuing power of attorney is suitable for you, here is a comparative table:

Important Note: The costs in the table are estimates only and may vary depending on the complexity of the document, Land Registry registration fees (if applicable), and other factors. The law office of David Wasserman will provide you with an accurate quotation after reviewing your specific needs.