Continuing power of attorney for property matters is an essential legal instrument that enables a person (the grantor) to transfer management and handling powers over their assets to another person (the attorney-in-fact) even in the event that the grantor loses mental capacity or becomes incapacitated. Unlike a regular power of attorney that terminates upon loss of mental capacity, a continuing power of attorney remains in effect and serves as an important legal safeguard for individuals concerned about their future or the future of their family members.

In recent years, the Israeli public has grown increasingly aware of the importance of early legal planning. Families ensure that in case of illness, accident, or aging, a trusted person will be able to manage their financial affairs in accordance with their wishes. This is precisely what a continuing power of attorney for property matters provides.

What Does a Continuing Power of Attorney for Property Matters Include?

A continuing power of attorney for property matters can include a wide range of powers, depending on the grantor's wishes and instructions:

• Bank account management — withdrawal and deposit of funds, management of savings and investments
• Real estate management — if the grantor owns real property assets, the attorney-in-fact can manage rentals, maintenance, and related transactions
• Investment management — making investment decisions in accordance with pre-established guidelines
• Debt and expense payments — payment of electricity, water, taxes, insurance, and management fees
• Update of legal documents — signing documents under the grantor's direction
• General transactions — any transaction related to property and funds, within the established boundaries

Important to know: A continuing power of attorney is not something imposed on the grantor. The grantor retains full control over their decisions as long as they possess mental capacity, and may revoke the power of attorney at any time.

Establishing a durable power of attorney in property matters is a legal process that requires precision, deep understanding of Israeli law, and attention to detail. The law office of Adv. David Wasserman ensures that this process proceeds smoothly, securely, and encompasses all important legal aspects.

Step 1: Initial Legal Consultation

At the first meeting, we listen to your needs and concerns. Are you worried about your future? Are there family members you wish to appoint? What are the assets you wish to transfer for management? At this stage, your attorney will explain the rights, obligations, and legal consequences of a durable power of attorney in property matters.

Step 2: Assessment of Your Family and Financial Situation

We examine your family status, your assets, inheritance law, and your future plans. Sometimes, a durable power of attorney in property matters is integrated with a will, financial agreements, or appointment of a guardian. We ensure that everything is properly coordinated.

Step 3: Document Preparation

Our attorney for durable power of attorney in property matters will prepare a precise document that includes all the powers you wish to transfer, the limitations and conditions, and the identity of the attorney-in-fact. The document must be in proper Hebrew, signed before a licensed physician or witnesses, as required by law.

Step 4: Registration and Legal Advancement

After the document is signed, we handle everything necessary to ensure the power of attorney has full legal effect. This includes instructions to banks, tax authorities, and other relevant agencies, so the attorney-in-fact can operate freely.

A common question is: How much does a durable power of attorney cost in property matters? The answer depends on several factors, but we are confident that this investment is critical for proper family planning.

Factors Affecting Cost

• Complexity of Assets — If you own homes, investments, businesses, or foreign assets, this may add to the attorney fee
• Number of Agents — If you want to appoint more than one person (for example, a spouse and child), the document becomes more complex
• Special Conditions — If there are capacity guidelines or special instructions, it requires additional work
• Integration with Other Family Planning — If you are also updating a will or property agreement, the work can sometimes be combined

Typical Cost Range

In recent times, attorney fees for a durable power of attorney in property matters typically range between 1,500 and 4,000 NIS, depending on complexity. A lawyer or attorney specializing in durable power of attorney in property matters at our firm will provide you with an accurate estimate following the initial consultation.

It is important to understand: this is a one-time investment that protects your entire future. Compared to the cost of a guardianship proceeding in court (which can be more expensive and complicated), a durable power of attorney is a smart and cost-effective choice.