Doron Tikotzky Kantor Gutman Cederboum was contacted by an Israeli family, whose Israeli-born father had been a well-known professional and a successful entrepreneur. He had died suddenly under tragic circumstance, several years earlier. Following the accident, his wife and grown children discovered that in his will they had been left considerable wealth, which was spread among a number of Swiss bank accounts.
The family quickly understood that the deceased had not reported these funds to Israeli Authorities, and had most likely, not paid tax required by Law, nor interest originating from these accounts abroad. Obviously, he had committed an offense and had inadvertently “dirtied” this money.
The family hoped to put the money towards an apartment purchase and living expenses in Israel. However, fear of criminal exposure, prevented them from accesses these funds. They had to find a way to legalize the money.
Solution: The siblings and their mother approached Doron Tikotzky Kantor Gutman Cederboum discretely, for help in executing the estate, aimed at legalizing the foreign bank deposits, before transferring the money to Israel.
Happy Ending! Shortly after Doron Tikotzky Kantor Gutman Cederboum entered the picture, the widow was able to distribute money to her children and to enjoy the remainder, with total peace of mind.
Lesson: In dealing with Estate Execution and Voluntary Disclosure of unreported funds, Doron Tikotzky Kantor Gutman Cederboum ensures the wishes of the deceased are carried out to the letter, in keeping with legal guidelines, to benefit those who remain behind.
Recently an Israeli professor, over seventy years of age contacted Doron Tikotzky Kantor Gutman Cederboum.
Apparently, in his youth he had moved his family abroad for business and study. Several years were spent in the US, where he successfully accumulated a considerable sum of money that he deposited in Switzerland.
The professor did not bring this money with him, on his return to Israel however, nor did he mention it to anyone – let alone report it to the Authorities. Hence, no tax was paid on interest.
At this late stage there was a problem, namely, that he could not touch the money without legal risk.
Although Tax had been paid abroad, his actions had in fact “dirtied” the money. Obviously, he had committed an offense in the eyes of Israeli Law, by not reporting and paying local taxes on the fruits of these foreign deposits.
Solution: The elderly gentleman came to Doron Tikotzky Kantor Gutman Cederboum who freed up the funds quickly at minimal cost.
Happy Ending! This man could enjoy seeing his family benefit from his savings, worry-free.
Lesson: Doron Tikotzky Kantor Gutman Cederboum has a 100% success record in freeing up funds that were previously off limits.
Many years ago, a woman received an inheritance from a relative abroad. She was now over eighty years of age and living in Israel.
Thirty years earlier, this money had been deposited in Swiss bank accounts in her name. She now came to Doron Tikotzky Kantor Gutman Cederboum, fearful to even mention the matter to anyone.
She had never reported nor paid any tax in Israel on these funds. However, by this time she understood it was imperative that she put her business in order, rather than transfer a legal hot potato to her children. She decided to deal with the issue during her lifetime, because obviously, if she willed these accounts in their current state, she actually puts her offspring in legal jeopardy.
It was clear to her that originally the inheritance had been clean and legal. However, she had by accident “dirtied” the money by not reporting it and paying tax on its fruits.
Solution: Doron Tikotzky Kantor Gutman Cederboum vigorously addressed the issue and the funds were quickly freed up for use.
Happy ending! To her surprise, Doron Tikotzky Kantor Gutman Cederboum informed the woman that an investigation indicated that she did not have to pay any tax at all, but could instead expect a tax refund, due to a disability. At the end of the process, the money was transferred to Israel. Some of it she kept for personal use, but a large portion was spread among her children during her lifetime, so she could watch them live in financial security.
Lesson: Doron Tikotzky Kantor Gutman Cederboum shows a personal touch and has an individual approach for each case. First of all, discretion and sensitivity to the stress, and fear involved in coming forward, make the whole process humane and smooth. Secondly, Doron Tikotzky Kantor Gutman Cederboum is highly regarded and trusted by Israeli Government Agencies, which helps shorten and simplify the process, resulting in an outstanding success rate.
A forty year old Israel merchant found himself entangled in a painful divorce. His ex was making extreme demands for alimony, well beyond the norm, as well as insisting on an unequal division of property, far above stipulations by law.
The woman threatened that if these unreasonable demands were not met, she would tell the Tax Authorities about “black” money and tax evasions, she witnessed during the years the couple lived together.
Desperate, the husband did not know where to turn or what to do. He was afraid of his wife, but feared the Tax Authorities even more. He knew her well enough to realize she was dangerous, and would not hesitate to carry out the threat if he did not give in to her demands. Obviously, he could go to prison for past mistakes, if they were exposed by his wife.
Late one afternoon, sound advice brought him to Doron Tikotzky Kantor Gutman Cederboum. Immediately the wheels were set in motion, for him to enter the procedure of Volunteer Disclosure, to nullify the criminal exposure that hung over his head.
Solution: Doron Tikotzky Kantor Gutman Cederboum was able to legalize the man’s wealth, and neutralized his criminal exposure – all without the wife being aware of what was going on.
Once the pieces were in place, the client informed his wife that he was willing to give her only what the law stipulated and not a penny more. He no longer feared her threats, because by now the Tax Authorities knew the details of his financial past.
Happy ending! The wife backed down from her exorbitant demands and agreed to divorce within reasonable limits.
Lesson: Flexibility and a remarkable knowledge base, experience, and resources, enable Doron Tikotzky Kantor Gutman Cederboum to intervene effectively in the most sensitive situations, to bring about a successful conclusion.
An Israeli businessman arrived at Doron-Tikotzky after he discovered that his trusted business partner, also a close friend and confidant – had apparently been stealing from him for years.
The businessman was afraid to sue his partner. In fact, he was even afraid to speak to him about the theft, because he knew that any action against the partner, would send him to the Tax Authorities with all he knew about the business, and its finances. These included: improper reporting of income; a building purchased abroad and not reported to Israeli Authorities; foreign bank accounts holding “black” money; shares in companies owned abroad, and more.
Solution: Together with his accountant the businessman visited Doron Tikotzky Kantor Gutman Cederboum, who managed to “clean his slate” via Volunteer Disclosure. Doron Tikotzky Kantor Gutman Cederboum’s expert team of attorneys and accountants legalized all income and “black” money at minimum cost. All criminal exposure was neutralized.
Happy ending! Soon after Doron Tikotzky Kantor Gutman Cederboum entered the picture, the businessman was able to sue his partner for all he had stolen, without fear or hesitation.
Lesson: Many of the team members at Doron Tikotzky Kantor Gutman Cederboum were formerly employed by the Israeli Tax Authorities. This fact, together with the Firm’s broad legal and accounting platform, has resulted in a winning environment that creates outstanding outcomes for clients.
Several months ago a retired Israeli attorney whose family are Holocaust survivors, came to Doron Tikotzky Kantor Gutman Cederboum. For decades he took money saved in Israel and placed it in a Swiss bank account, where it accumulated into quite a large sum.
He flew to Switzerland twice a year, carrying cash in order to deposit it in his Swiss account. At times he also transferred money via money changers.
All those years the attorney did not report the foreign account to Israeli Tax Authorities, and hence he paid no tax on interest received.
Realizing that through his actions he both committed a tax offense, and also “dirtied” money that had originally been clean, the retiree lost sleep. It was clear that under the circumstances, the money could not be accessed or used. It could not even go towards entering a parents’ home.
Solution: The experienced team at Doron Tikotzky Kantor Gutman Cederboum immediately began to deal with Tax Authorities and quickly legalized the money, at very low cost to the client.
Happy ending! Almost immediately the client was able to transfer payment to the parents’ home he wanted to move into.
Lesson: What could have been a personal tragedy, or at best, a heart-wrenching process, was handled by Doron Tikotzky Kantor Gutman Cederboum in a highly professional and humane manner. The client was never interviewed by Authorities. He interfaced with a single point of contact only. This provided easy communication, a stress-free environment, and total discretion.
An Israeli specializing in international trade arrived at Doron Tikotzky Kantor Gutman Cederboum. For years he made international dealings that yielded a large income.
The transactions had been executed via international companies registered in tax havens, with several not even registered in his own name. He did not report these companies or his earnings to Israeli Authorities, nor did he pay tax on any of his business activities.
Large sums had accumulated and were deposited in foreign banks. Some of the accounts were registered in the name of the companies, others in the names of trustees.
The client had recently been made aware of a crack in bank confidentiality worldwide, and feared his name would make its way to the Israeli Tax Authorities. He knew this could result in serious criminal charges against him.
Solution: Frantic, he contacted the team at Doron Tikotzky Kantor Gutman Cederboum, who immediately went into action to legalize the companies, foreign activities, and money deposited abroad. This was done speedily and at minimum cost.
Happy ending! Doron Tikotzky Kantor Gutman Cederboum came to an agreement with Israeli Tax Authorities, who removed all criminal exposure, and enabled the client to use the money both in Israel and abroad, with no worries.
Lesson: Doron Tikotzky Kantor Gutman Cederboum has the means and expertise to manage complex and highly sensitive cases across borders, with outstanding success.