A durable power of attorney is an important legal instrument that allows a person (the grantor) to grant another person (the agent) the authority to manage legal, financial, and medical matters on their behalf, even if the grantor loses their mental capacity. Unlike a regular power of attorney, which becomes void when the grantor loses mental capacity, a durable power of attorney remains valid and continues to be effective.

In Israel, durable power of attorney is regulated by the Durable Power of Attorney Law, 5771–2011, and requires strict compliance with legal requirements to be valid and enforceable. Our office in Modiin handles the preparation of certified and legally compliant durable powers of attorney that are recognized by banks, government authorities, and other entities.

Why is a Durable Power of Attorney Important?

A durable power of attorney allows you to ensure that in the event of serious illness, accident, or loss of mental capacity, a trusted person will be able to manage your affairs. This spares your family the need to file a court petition to establish a guardianship, a process that can be lengthy, costly, and public. A durable power of attorney is smart and responsible family planning.

• Self-determination: You choose who will manage your affairs in the future
• Cost savings: Avoiding lengthy and expensive court proceedings
• Privacy: A private process, not public like guardianship proceedings
• Peace of mind: Knowing your affairs will be handled according to your wishes
• Flexibility: You can set specific conditions and limitations for your agent

A very common question is: How much does a lasting power of attorney cost? The answer depends on several factors — the complexity of the situation, the number of agents, the scope of powers, and whether additional consultation is needed on related matters such as a will or property arrangement.

Typical price ranges

In recent times, the recommended price for a lasting power of attorney by the Israeli Bar Association ranges from approximately 800–2,500 shekels, depending on the level of complexity. Our office in Modiin offers competitive pricing and comprehensive consultation options that can reduce your overall costs.

It is important to know that the total cost can vary based on your specific needs. If you need more than a single lasting power of attorney — for example, also a will or property arrangements — it is possible to plan a combined package that will save you money on overall costs.

Cost of lasting power of attorney at the bank

When you submit a lasting power of attorney to your bank, the bank may require approval from your family or an attorney before accepting it. Different banks may require periodic updates or additional verification. Our office handles communication with the bank and ensures that your power of attorney is processed smoothly and without delays.

Lasting power of attorney for Yad Sarah

Yad Sarah is a government savings fund dedicated to supporting the elderly. If you are a beneficiary of Yad Sarah or an investor in it, a lasting power of attorney may be relevant to ensure that your funds are properly handled in case of loss of capacity. We know how to coordinate a lasting power of attorney with Yad Sarah requirements.

If you are considering evaluating a durable power of attorney, it is important to understand the practical process. Here are practical steps we will guide you through:

Step 1: Initial Consultation and Needs Assessment

In the first meeting, we understand your situation, needs, and concerns. We ask important questions: Who are the people close to you? What type of powers do you want to grant? Are there additional needs such as a will or property arrangements? At this stage, we also explain the law and procedural requirements.

Step 2: Selection of Agents and Setting Conditions

You choose one or more agents (people who will be able to manage your affairs). You can also set conditions — for example, that the agent may use funds only for healthcare needs, or that they must notify a third party of major decisions. We help you think deeply about all of this.

Step 3: Document Preparation

We prepare the durable power of attorney in accordance with legal requirements. The document must be in Hebrew, signed by you in the presence of a witness or attorney, and must include specific statements by you. We ensure that every legal detail is covered.

Step 4: Signing and Execution

You sign the power of attorney in the presence of witnesses or an attorney. This is important for the validity of the document. We handle all technical details to ensure that the signature is proper.

Step 5: Registration and Implementation

After signing, your power of attorney becomes effective immediately. We transfer copies to your agents and to any entity that needs to know about it (banks, government offices, etc.). We also retain a copy in our file for the future.

A common question is: what is the difference between enduring power of attorney and guardianship? Both relate to managing the affairs of a person who cannot manage them themselves, but they differ significantly.

In short: an enduring power of attorney is a smart preventive tool. If you arrange it now, while you have full mental capacity, you save your family the need to file a petition with the court in the future. It is cheaper, faster, and more private.