A couple living in Israel recently learned that their U.S. brokerage firm would no longer serve clients abroad. Their immediate worry was practical: how would their children, some in Israel and some in the U.S., eventually access those accounts?
Joint accounts
Many Americans in Israel hold joint brokerage accounts with a spouse, assuming this will make things easier down the road. And for a surviving spouse, it often does. But after the second spouse passes, the picture changes. Accounts may still go through probate, and the lack of a “stepped-up cost basis” rule in Israel can create unexpected tax consequences for children who inherit. What seems like a simple arrangement in one country can become a legal and tax burden in another.
A triggering event can expose what was overlooked
In many cases, families do not revisit their estate plans until something forces the issue. A brokerage firm dropping overseas clients is one such trigger. Others include a move between countries, a change in family structure, or the passing of a spouse. When that moment arrives, families often discover that their wills may not be recognized in both jurisdictions, that account titling creates unintended outcomes, or that tax obligations differ from what they assumed.
A proactive approach makes a real difference
Families who address these questions early tend to face fewer delays and fewer surprises. That means having wills that work in both the U.S. and Israel, understanding how accounts are titled and what happens to them at each stage, and coordinating with professionals familiar with both systems. It also means not waiting for a crisis to revisit the plan.
Cross-border estate planning is not something most people think about regularly. But for Americans in Israel with U.S. financial ties, it is one of the most important things to get right. To discuss your situation, schedule a free introductory call or contact us at 02-624-2788.
Douglas Goldstein, CFP® is the director of Profile Investment Services, Ltd. profile-financial.com. He is a licensed financial professional both in the U.S. and Israel. Call (02) 624-2788 for help with your U.S. brokerage and IRA accounts. Securities offered through Portfolio Resources Group, Inc. Member FINRA, SIPC, MSRB, FSI. The author’s opinions are not necessarily those of PRG or its affiliates. Neither PRG nor its affiliates provide tax or legal advice.
Published October 13, 2026.