Mercy on the heirs

#Initiator of the week Karnit and Seling Gefen# Post 4
A few years ago the children of an Israeli citizen approached me. It turns out that their father was caught up in big dreams of easily increasing his fortune by investing in singles across the US after meeting an Israeli who is involved in the field. He sold his apartment in the center of Tel Aviv and bought no less than nine real estate properties in an excessive spread between different countries. Some of the properties were productive and cared for and some were lands in remote areas (important but not relevant to the post - it is difficult to impossible to find a real estate agent who will sell you a property worth $3000 and you should take this into account when investing in remote remote places). Unfortunately the man passed away. The heirs innocently informed the American bank from which the current payments of the assets (insurance, property tax/property tax, etc.) came about their father's death, and the bank, like a bank, immediately stopped all operations on the account. Since the bank stopped the operations, and the heirs were not aware of the unpaid current payments, property tax debts accumulated and a number of cities started execution procedures, which put the yielding properties in particular at risk.
A serious but resolving headache. What is not taken into account at all by the deceased, is the estate tax. Since the deceased was not an American citizen the total exemption for the estate was $60,000. Everything else was subject to full estate tax.
So what do I say? Think about your heirs. Work neatly. Authorize at least one family member who will be in the know and know how to operate the business, alternatively prepare a suitable legal document or appoint a professional. And most importantly, if you are not an American citizen or a green card holder, consult about the estate tax, and prepare an action plan. Otherwise the federal government will take almost half of the value of the inheritance you leave behind, isn't that a shame?
What can be done? A foreign company is not exposed to estate tax; American life insurance is significantly cheaper than the Israeli one and can be bought until the age of 100 if you want and thus cover the tax; Legal works such as allegiance to an American citizen and more. It all depends on the circumstances. Consult and take care. Your heirs will thank you.
In blessing up to 120 in good health and happy heirs,