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Alon Kaplan Adv., LLM., TEP. April 2014

Trusts in Israel: Travel Through Generations From Bible Time to High Tech Country STEP Conference Hungary. Alon Kaplan Adv., LLM., TEP. April 2014. Travel through generations.

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Alon Kaplan Adv., LLM., TEP. April 2014

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  1. Trusts in Israel: Travel Through Generations From Bible Time to High Tech CountrySTEP Conference Hungary Alon Kaplan Adv., LLM., TEP. April 2014

  2. Travel through generations Sir Herbert Samuel and Winston Churchill at tree planting ceremony, on site of Hebrew University, Mount Scopus, Jerusalem, 1921 (American Colony, Jerusalem. Photo Dept.)

  3. Bible to 2nd Temple Period “…and you shall take a wife for my son there. And if the woman is not willing to follow you, then you will be released from his oath”; Genesis 5-9. Isaac (1000 KM) Rebecca

  4. Post Temple Period • The Guardian • The Shalish Developments of Jewish Law • The Guet Messenger

  5. Ottoman Rule in the Middle East(15th Century – early 20th Century)The use of Waqf by Jews and Muslim • The Waqf • Charitable trusts and Private Waqf- Sharia Court • Waqf in 19th Century used by Jewish community in Jerusalem for Private Trusts.

  6. “A tale of five cities...” Jerusalem Budapest London Basel Tel Aviv

  7. “A tale of five cities...”Trust in the service of the Zionist movement 1.Budapest T. Herzl was born in Budapest in 1860 and later moved to live and work in Vienna.

  8. “A tale of five cities...”Trust in the service of the Zionist movement 2.Basel 1897 – Zionist Congress Emerging of the Zionist Movement

  9. “A tale of five cities...”Trust in the service of the Zionist movement 3. London 1901-1907 • 1. Jewish Colonial Trust The financial entity of Zionist movement 2. KerenKayemetLeisrael 1907 British company to act as the purchasing agent of land in Israel

  10. “A tale of five cities...”Trust in the service of the Zionist movement 4. Tel Aviv 1909-1922 KerenKayemet finances purchase of first land in Tel Aviv. JacobusKaan acts as trustee to purchase land for 60 settlors.

  11. “A tale of five cities...”Trust in the service of the Zionist movement “Lottery of shells”

  12. British Mandate of Palestine1922-1948 • §46 of King Order in Council 1922 • The Charitable Trust Ordinance 1924

  13. Israel - Jerusalem1948-1980 • Continued use of Article 46 application of Common Law • Law of Agency 1965 • Law of Trust 1979 • Law and Administration Ordinance 1980 ended the use of Article 46 of King Order in Council

  14. Israel - Jerusalem1980-2014 • Exchange Control Regulations - End 1998 • Territorial Taxation 2003 - Until 2003 • Change of tax system 2003 - Starting 1.1.2003 • The committee for taxation of trusts 2003

  15. Trust in Israel1979-2004 • Trust created by law (Liquidation of Company; Trustee in Bankruptcy) • Trust created by contract. • Testamentary Trust • The Hekdesh Trust created by a notarial Trust Deed. • Trust created by Court declaration (Court declares Trust Property) • Trust of special economic activities: Bonds, Employee incentives

  16. Taxation of Trusts Timeline Taxation of Trusts Timeline No estate taxes; No gift taxes

  17. Israeli Laws Applicable to Trusts and Estates

  18. Thank You. Alon Kaplan Adv., LLM., TEP.

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