After recovering from a heart attack, a retired American living in Israel called me, not to panic, but to prepare. He didn’t need investment advice for himself anymore. What he wanted was a plan to make things easier for his family down the road.
That call reminded me how important it is for expats to think beyond just account balances. When you live abroad, your financial life gets more complicated. And in a moment of crisis, your loved ones need clarity, not confusion.
Know where your accounts are and who can access them
This client had a U.S.-based IRA, but he lived full-time in Israel. If another emergency kept him from making financial decisions, who would step in?
We added his daughter as a trading authority, not a joint owner, but someone legally able to speak with us and take action if needed. This small move can make a big difference when timing matters.
Make sure you have the right paperwork: trading authorizations, powers of attorney, and clearly documented beneficiaries. Don’t assume your family can figure it out later.
Keep your investment strategy updated
Your portfolio should reflect your current goals. In this case, the client didn’t need growth or income from his investments. His focus had shifted to legacy.
We reviewed his allocation, 45% stocks, 55% fixed income, and decided it still worked. He had CDs maturing regularly and dividend-paying index funds providing long-term growth potential.
If you’ve moved from earning to preserving or transferring wealth, make sure your investments match that purpose.
Bridge the U.S.-Israel gap with intention
Living in Israel with American accounts introduces layers of complications: tax rules, access issues, currency decisions. Don’t leave those questions for your spouse or kids to figure out.
Build relationships with advisors who understand both sides of the ocean. Make sure family members know whom to contact and what your intentions are. It’s not about control. It’s about care.
Cross-border financial planning isn’t just about money. It’s about giving your loved ones the gift of clarity when they’ll need it most.
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Douglas Goldstein, CFP® is the director of Profile Investment Services, Ltd. www.Profile-Financial.com. He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for a consultation on how to set up your American assets to meet your financial goals. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The opinions expressed are those of the author and not those of Portfolio Resources Group, Inc. or its affiliates. Neither PRG nor its affiliates provide tax or legal advice.
Published September 24, 2025.