A durable power of attorney is a vital legal document that allows an individual (the principal) to transfer legal and financial powers to another person (the attorney-in-fact) even in the event the principal loses their ability to make decisions independently. Unlike an ordinary power of attorney, a durable power of attorney remains in effect even if the principal becomes incapacitated or unable to communicate.

In an era when life expectancy is increasing and many families in Israel require advanced family planning, a durable power of attorney is an essential protection tool. It allows you to maintain control over your decisions even when you cannot decide for yourself, and it prevents situations of legal uncertainty regarding who will be able to manage your affairs.

What is a Durable Power of Attorney in Practice?

In practice, a durable power of attorney allows the attorney-in-fact to perform legal and financial actions on your behalf, such as managing bank accounts, making decisions regarding your property, signing contracts, and performing actions concerning your assets. This facilitates matters for your family and prevents complicated legal proceedings in the future.

The law office of David Wasserman has extensive experience in preparing durable powers of attorney and deep knowledge of family law and inheritance law in Israel. We guide you through every stage of the process, from the initial consultation through to signing the document before a legal witness or before a court, as required.

• Complete Legal Protection: A durable power of attorney is protected by law and must be drafted with precision and high legal accuracy.
• Preservation of Your Dignity and Autonomy: You determine exactly what powers the attorney-in-fact has and under what conditions they may be used.
• Avoidance of Future Legal Proceedings: A properly executed durable power of attorney saves lengthy and costly court proceedings.
• Peace of Mind for Your Family: When there is a clear legal document, your family knows exactly what to do in an emergency.

A common question among potential clients is: how much does a durable power of attorney cost? The answer depends on the complexity of your case, the scope of powers you wish to transfer, and whether there are family disputes or complex legal issues involved.

Recommended Price for Durable Power of Attorney According to the Israeli Bar Association

The Israeli Bar Association has established a recommended fee schedule; however, in practice, different law firms may offer different rates depending on the level of professionalism, experience, and scope of work. A basic fee for a simple durable power of attorney can start from a few hundred shekels, but in more complex cases, with multiple appointees or broad powers, the fee may be higher.

At the law office of David Wasserman, we offer competitive rates and always discuss with the client in advance what to expect, so there are no surprises at the end. We believe in complete transparency and "no surprise fees."

Durable Power of Attorney at Banks and Yad Sarah

Durable power of attorney at banks is one of the most common uses. Banks in Israel, such as Bank Leumi, Bank Hapoalim, and Yad Sarah, require a durable power of attorney so that an attorney-in-fact can manage a bank account on your behalf. This power of attorney allows the attorney-in-fact to perform actions such as withdrawing money, making bank transfers, checking balances, and performing other financial transactions.

A durable power of attorney with Yad Sarah, which is a nursing and housing facility for retirees, is especially essential for elderly people or those concerned about a decline in decision-making capacity in the future. At Yad Sarah and other nursing homes, an attorney-in-fact with a durable power of attorney can manage all your financial and medical affairs.

• Durable power of attorney at banks: Allows full management of a bank account, including cash withdrawals and transfers.
• Durable power of attorney for medical treatment: Allows the attorney-in-fact to make medical decisions on your behalf when you are unable to do so.
• Durable power of attorney for assets: Includes management of real estate, mortgages, and related contracts.
• Durable power of attorney for insurance: Allows the attorney-in-fact to manage insurance policies on your behalf.

The process of preparing a durable power of attorney involves several important legal steps. Understanding these steps will help you know what to expect and be prepared for each stage of the process.

Step 1: Initial Consultation and Needs Assessment

At this stage, you meet with our attorney to discuss your needs, concerns, and goals. The attorney will ask you important questions such as: What powers do you wish to transfer? Who will be the attorney-in-fact? Are there complex family issues? At this stage, we also explain to you the legal implications of a durable power of attorney and the potential risks.

Step 2: Preparation of Initial Draft

Following the consultation, our attorney prepares an initial draft of the power of attorney. This draft is based on the information we obtained from you and the legal requirements. We send you the draft for review, and you can ask questions, propose changes, or request clarifications.

Step 3: Revisions and Second Round of Consultation

After receiving your feedback, we make corrections and changes to the draft. In complex cases, there may be a need for several rounds of updates to reach a final version that fully satisfies you.

Step 4: Legal Verification Before a Witness

Once the document is final, you need to sign it before a legal witness (an attorney or notary) or before a court. This legal witness verifies that you signed with your free consent, that you have legal capacity (understand what you are signing), and that you understand the implications of the power of attorney. We arrange the meeting with the legal witness and accompany you through this process.

Step 5: Registration and Distribution of Copies

After signing, the document must be registered in appropriate places (for example, at the bank if it is a banking power of attorney, or at the court in certain cases). We handle all registration procedures and ensure the document is distributed to the appropriate parties (the attorney-in-fact, the bank, etc.).

Step 6: Future Updates and Oversight

If in the future you wish to modify the power of attorney or revoke it, we are available to assist. We also support you in case of questions or issues that may arise in the future.

Lasting power of attorney can be general or limited, depending on your needs. Here are some common types:

General Lasting Power of Attorney

A general lasting power of attorney grants the attorney-in-fact broad powers to manage virtually all of your affairs, including property, money, assets, and medical care. This type is suitable for individuals who want to grant general authority to a trusted attorney-in-fact. It is especially useful when you are concerned about a decline in decision-making capacity in the future and want one attorney-in-fact to be able to handle everything.

Limited Lasting Power of Attorney

A limited lasting power of attorney grants the attorney-in-fact only specific powers. For example, lasting power of attorney for banking allows the attorney-in-fact to manage only your bank account, but not other assets. This is useful when you want to limit the attorney-in-fact's powers or when you are granting powers to multiple different individuals for different areas.

Lasting Power of Attorney for Medical Treatment

This power of attorney allows the attorney-in-fact to make medical decisions on your behalf when you are unable to do so. This includes decisions regarding treatments, medical examinations, and even decisions about end-of-life care (subject to Israeli law). This type is very important for elderly individuals or those with serious medical conditions.

Lasting Power of Attorney for Real Estate

This power of attorney allows the attorney-in-fact to manage your real estate assets, including sales, purchases, leasing, and mortgage management. This is useful if you own properties in Israel or abroad and the attorney-in-fact needs to manage them on your behalf.

Lasting Power of Attorney for Insurance

This power of attorney allows the attorney-in-fact to manage your insurance policies, including changing terms, filing claims, and receiving insurance payments.

The law office of David Wasserman can help you determine which type of lasting power of attorney is best for your needs, in accordance with your specific situation and goals.

When choosing an attorney for a durable power of attorney, it is important to select someone with experience, professionalism, and discretion. The law office of David Waserman offers clear advantages:

Deep Experience in Family and Inheritance Law

Our attorneys have years of experience in preparing durable powers of attorney, wills, inheritance proceedings, and other family law matters. We know exactly what the law requires and how to protect your rights.

Personal Attention and Complete Confidentiality

We believe in providing personal guidance to each client. You are not just a number in line; you are a person with unique needs. All discussions with our office are subject to full attorney-client privilege, and all your information is protected by law.

Competitive Fees and Price Transparency

We offer competitive rates tailored to a wide range of clients. There will be no price surprises — everything is agreed upon in advance.

Professional Handling of Every Detail

From initial consultation through legal verification and document execution, we handle every detail. You can be confident that your document will be legal, clear, and easy to implement.

Long-Term Strategic Thinking

We do not merely prepare durable powers of attorney — we develop a comprehensive legal plan to protect your rights and those of your family. We consider future scenarios and arrange matters in a way that will prevent problems down the road.