Power of Attorney: The Difference between an American and Israeli Power of Attorney

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.

This episode 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. Make sure to download the checklist to keep the legal tape of an inheritance in check. The link to the free download is in show notes of today’s episode of The Goldstein on Gelt Show website.