Proactive Planning with Ageing Parents

Horim Mizdaknim הורים מזדקנים

As parents or loved ones age, there are various recommended steps to take to ensure that one can provide the most effective and efficient support for them.

Power of Attorney

Israel has very strict rules regarding power of attorney for the elderly in order to prevent elder abuse. See a lawyer who specializes in power of attorney, ideally before your parents become mentally incapacitated.

Creating a Will, Living Will and a Do Not Resuscitate Order (DNR)

• It is recommended that every person or couple have a will in order to ensure that a person can divide up their estate as they wish. In Israel, if there is no will, by law 50% of the estate goes to the surviving spouse, and 50% to the children.
• A Living Will and perhaps a DNR, if that is their wish, are important in detailing and clarifying a person’s desires regarding their medical treatment in circumstances in which they are no longer able to express informed consent due to age or illness.
• Note: You should use a lawyer as well for creating the Will, the Living Will and DNR

Banks and Related Services

• Make sure you have access as a signatory on all bank accounts and investments, and that your phone number and email are associated with those accounts, for verification of the account. Same goes for credit cards and safety deposit boxes. It is also recommended to speak with a banker in the branch where the account is located to determine what the best steps to take are.
• It is extremely important that you make sure that a Se’if Arichut Yamim – סעיף אריכות ימים – Survivorship Clause has been signed and is active on any shared bank accounts. If it isn’t, and one parent passes away, the account will automatically be completely frozen until the estate is settled even if the second parent is still alive.

Investments

If relevant, create a list of all their investments, bank accounts, stocks, retirement accounts etc, with contact information, login information, physical address and phone number including any in the country they made Aliyah from.

Bituach Leumi

Create online Bituach Leumi accounts/access for both parents. The same applies to any foreign social security accounts.

Kupat Cholim

It’s helpful to have access to their Kupat Cholim apps to be able to schedule appointments and keep an eye on their medications etc.

Important Numbers and Dates

Create an easily accessible list of Teudat Zehut numbers, any foreign social security numbers, dates of birth etc.

Passwords

Create an easily accessible list or spreadsheet with all online accounts and email addresses with relevant usernames and passwords. Make sure to keep it updated with any changes.

General Bills

If your parents are ok with it, add your name, mobile number and Teudat Zehut – תעודת זהות – ID card number on all accounts as the contact person. This applies to any service they are billed for such as Arnona – ארנונה – Municipal taxes, electricity, water, gas, cable TV, internet service, mobile phones and landline telephone, insurances – including home, car, supplemental medical and life insurance, newspapers and magazine subscriptions etc.