A durable power of attorney is an important legal document that allows a person (the principal) to transfer certain legal powers to another person (the attorney-in-fact) in a manner that continues even in the event of the principal's loss of capacity. Unlike a regular power of attorney that becomes void upon the principal's loss of capacity, a durable power of attorney remains in effect and retains full legal validity.

The practical meaning is that if you need assistance managing your legal and financial matters — whether due to illness, advanced age, or any other reason — a durable power of attorney ensures that the attorney-in-fact has the authority to continue acting on your behalf even when you are unable to make decisions yourself.

Why is a Durable Power of Attorney Important?

In an era where families are separated across the globe, where individuals may encounter periods of inability to make decisions, and where legal matters have become more complex than ever before — a durable power of attorney serves as a vital protective tool. It prevents situations where a court proceeding is necessary to appoint a guardian, a process that can be lengthy, expensive, and governed by the laws of the state.

Law Office of David Wasserman offers professional legal assistance in preparing this document, while adhering to all legal requirements and selecting an attorney-in-fact suitable to your needs.

The Difference Between a Regular Power of Attorney and a Durable Power of Attorney

A regular power of attorney becomes void when the principal loses capacity — that is, precisely when they need help most. A durable power of attorney, by contrast, remains in effect in exactly these circumstances. This makes it an essential tool for personal future planning.

Durable Power of Attorney at the Bank

One of the most common uses of durable power of attorney is the management of bank accounts. When the grantor of a power of attorney is unable to visit the bank, issue checks, conduct bank transfers, or manage their account — the attorney-in-fact can do so on their behalf. Israeli banks recognize durable powers of attorney, but it must be presented to the bank in an official format and their forms must be completed.

It is important to know that different banks may have different requirements. Some will request additional legal approval or signature verification. An experienced law firm will ensure that the document meets your specific bank's requirements.

Durable Power of Attorney with Yad Sarah

Yad Sarah — the national foundation for elderly care assistance in Israel — recognizes durable power of attorney as a valid legal mechanism. If you are receiving assistance from Yad Sarah and wish to transfer management powers to a family member or friend, Yad Sarah will require proof of a valid power of attorney. The document must be prepared with careful attention to all legal requirements, including signature before a witness or before an attorney.

Additional Uses

A durable power of attorney can cover a wide range of powers: sale of property, investment management, signing of mortgage contracts, execution of real estate transactions, and handling of corporate matters. Each power must be explicitly stated in the document's language.

Durable Power of Attorney Pricing at the Israeli Bar Association

The Israeli Bar Association has established a recommended price for durable power of attorney. The price varies depending on document complexity, the number of powers included, and whether special legal requirements exist. Typically, the cost range for a basic durable power of attorney is approximately ₪500–₪1,500.

However, if the power of attorney includes complex powers (such as asset sales, investment management, or business management), the cost may be higher. Some attorneys charge based on actual work hours.

Recommended Durable Power of Attorney Pricing

The price recommended by the Bar Association is not mandatory, but it reflects the market standard. David Sergerman Law Office offers personalized quotes for each case, taking into account your specific needs and required complexity.

It is important to know that investing in a properly executed durable power of attorney is an investment in your peace of mind and the protection of your future. An experienced law firm will ensure that the document meets all legal requirements and is valid in any circumstance.

Additional Costs

In addition to legal consultation fees, there may be additional costs: witness signature (typically charged separately), notarization (if required), and submission of the document to a bank or other entities. David Sergerman Law Office will inform you of all costs involved in the process in advance.

Step 1: Initial Legal Consultation

At this stage, you meet with an attorney specializing in durable power of attorney. The attorney listens to your needs, who you wish to grant power to, and what powers you want to transfer. This is a critical step in building the correct legal strategy.

Step 2: Document Preparation

The attorney prepares the power of attorney document in accordance with legal requirements. The document must contain: identification of the grantor, identification of the agent, a precise description of the powers, the date of signature, and any special conditions (if applicable). The document is prepared in Hebrew and in accordance with the laws of the State of Israel.

Step 3: Signature Before a Witness or Attorney

A durable power of attorney must be signed before a witness (typically an attorney or notary) to be valid. The witness confirms that the signature belongs to the grantor themselves and that they are capable of understanding the meaning of the document. This is a crucial step for the legal validity of the document.

Step 4: Submission to Bank or Other Entities

After the power of attorney is signed, it must be presented to the bank (if dealing with bank account management), the land registry (if relevant), or other legal entities. Each entity may have additional requirements or its own forms.

Step 5: Safekeeping and Updates

After executing the power of attorney, it is important to keep an original copy in a safe place and update it as necessary. If there are changes in your life or needs, updating the document will ensure it reflects your current circumstances.