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Doug Goldstein

What exactly is a power of attorney, and when would it come into play? Russell Mayer, a Senior Partner at Livnat Mayer & Company, explains what a power of attorney (POA) is and when people would typically need to use one. A power of attorney gives someone else the authority to handle your affairs in the event you can’t. There are several different types of power of attorney, and knowing which is the most appropriate can be complicated. In fact, Americans who recently moved to Israel may be surprised to find that an American power of attorney will not be recognized in Israel.

There’s more to know about receiving an inheritance, other than getting cash!

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During September every episode is focusing on a different aspect of receiving an inheritance. Today’s episode focuses on what happens if you inherit an (Individual Retirement Account). Taking money out of a beneficiary IRA can have tax consequences so before you use the funds consult with a tax advisor, and before you invest the funds, consult with your investment advisor, as some types of investments may not be appropriate for an IRA. Doug explains what you should do if you inherit an IRA or need to handle any assets domiciled in the U.S. If you need a little help getting your inheritance paperwork form in order, here is a free checklist to keep you on track!

The Goldstein On Gelt Show is a financial podcast. Click on the player below to listen. For show notes and contact details of the guest, go to https://goldsteinongelt.com/radio-show

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Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm specializing in working with Americans living in Israel who have investment accounts in America. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com
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