Q: What is Jewish estate planning?
A: Jewish estate planning involves ensuring one's property is transferred and distributed in compliance with Jewish monetary law (Choshen Mishpat) and secular law (e.g., Trusts and Estates, Tax and Corporate Law).
Q: Why is Jewish estate planning important?
A: Without proper planning, one might be transgressing several Torah and Rabbinic laws regarding who the proper beneficiaries are, what amounts beneficiaries should receive, which beneficiaries or purposes have priority over others, which Halachic methods to use for transferring particular types of assets, etc. One who dies without a Halachic will and the proper Jewish estate planning might cause beneficiaries to unknowingly inherit stolen property from the rightful heirs [according to Jewish law], prohibiting anyone from benefiting from such property or their wishes might not be enforceable in a Jewish court (Beis Din) and or in a civil court of law. There are numerous methods of properly transferring wealth which avoids Torah and secular prohibitions and actually fulfills certain Torah commandments and Jewish values, in addition to saving in income, gift and/or estate taxes, when effectuated correctly.
Q: Why have I never heard of such issues?
A: Jewish monetary law (Choshen Mishpat) is extremely complex and the laws of inheritance are among some of the most intricate laws. There is a very small amount of Torah scholars in the world whom are familiar with these laws, moreover, they are usually Rabbis who are not attorneys or fluent in law. Similarly, among the plethora of attorneys in the world, very few specialize in estate planning, and yet fewer are proficient in the income, gift and estate tax laws which are as well as secular tax law. As a Torah observant Jew, I have only met a handful of individuals who have the background to understand and appreciate the conflicts between secular and Jewish monetary law; even fewer know how to properly devise an estate plan that avoids the obvious conflicts between the two intricate areas of law. When one also wants to maximize tax planning in his or her estate plan, and truly wants to avoid the many other issues which Jewish and secular law pose, there are barely any resources one can access to achieve compliance with both areas of law.
Q: Who should care about Jewish estate planning?
A: Jewish estate planning involves ensuring one's property is transferred and distributed in compliance with Jewish monetary law (Choshen Mishpat) and secular law (e.g., Trusts and Estates, Tax and Corporate Law).
Q: Why is Jewish estate planning important?
A: Without proper planning, one might be transgressing several Torah and Rabbinic laws regarding who the proper beneficiaries are, what amounts beneficiaries should receive, which beneficiaries or purposes have priority over others, which Halachic methods to use for transferring particular types of assets, etc. One who dies without a Halachic will and the proper Jewish estate planning might cause beneficiaries to unknowingly inherit stolen property from the rightful heirs [according to Jewish law], prohibiting anyone from benefiting from such property or their wishes might not be enforceable in a Jewish court (Beis Din) and or in a civil court of law. There are numerous methods of properly transferring wealth which avoids Torah and secular prohibitions and actually fulfills certain Torah commandments and Jewish values, in addition to saving in income, gift and/or estate taxes, when effectuated correctly.
Q: Why have I never heard of such issues?
A: Jewish monetary law (Choshen Mishpat) is extremely complex and the laws of inheritance are among some of the most intricate laws. There is a very small amount of Torah scholars in the world whom are familiar with these laws, moreover, they are usually Rabbis who are not attorneys or fluent in law. Similarly, among the plethora of attorneys in the world, very few specialize in estate planning, and yet fewer are proficient in the income, gift and estate tax laws which are as well as secular tax law. As a Torah observant Jew, I have only met a handful of individuals who have the background to understand and appreciate the conflicts between secular and Jewish monetary law; even fewer know how to properly devise an estate plan that avoids the obvious conflicts between the two intricate areas of law. When one also wants to maximize tax planning in his or her estate plan, and truly wants to avoid the many other issues which Jewish and secular law pose, there are barely any resources one can access to achieve compliance with both areas of law.
Q: Who should care about Jewish estate planning?
- A: Anyone of the following (including but not limited to):
- One who owns even a minimal amount of property or intends on owning property and wants to be in compliance with Jewish monetary laws (to observe certain mitzvos and secular laws) should have their estate plan created or reviewed.
- Anyone who has a child and should make the proper guardianship provisions which comply with Jewish and secular law.
- Anyone who wants to give to beneficiaries and/or charities while maximizing tax savings.
- Anyone who wants to make sure that they are not transgressing any prohibitions, on a basic level; or for those who strive to uphold a higher level of observance in Halacha - to follow more than just the lenient or minority opinions, but whom uphold stringencies ("chumras") and/or customs ("minhagim") according to the general consensus among their particular Rabbis or want to maintain consistency with one's own traditions and customs.
- We do not pass judgments or persuade anyone from going beyond their particular level of Jewish observance; we merely discuss the conflicts and issues according to various authorities regarding one's particular circumstances, develop advantageous legal, tax and Halachic strategies which are most adaptive to one's lifestyle and help people achieve these goals and others in a cost-effective and legally enforceable manner which is recognized by Jewish law.