New Initiative Helps Bereaved Families Access Financial Assets

Thousands of Israeli families who lost loved ones in combat are struggling to navigate financial institutions to claim the assets left behind by the fallen soldiers. To address this, Aviad Shuv, CEO of "Investments for Young People in Practice," founded "Mizmat Shahar" (Shaharnatanel's Initiative) after his close friend, Major Shaharnatanel Buzaglo, was killed in Gaza on October 7th. The initiative provides free, comprehensive assistance to bereaved families in locating, consolidating, and receiving all financial assets left by their loved ones in civilian financial entities like banks and insurance companies.

Shuv explained that the inspiration came after Buzaglo's mother, Osnat, approached him for help accessing her son's finances, admitting she had no idea where to start. Shuv discovered that financial institutions are often ill-equipped to handle these cases, and families are emotionally overwhelmed by the complex procedures following a loss. "Mizmat Shahar" aims to simplify this process, ensuring no money is left unclaimed.

The initiative, also supported by partners Roi Gil and lawyer Adam Karpel, offers end-to-end support, handling all dealings with civilian financial bodies. It does not involve claims against the military or government. The process typically takes about two months, involving families submitting documents to a secure digital folder, after which the "Mizmat Shahar" team maps out all financial products and manages the claims.

To date, "Mizmat Shahar" has successfully returned over 10 million shekels to bereaved families, having fully assisted four families and currently supporting 21 others. The average amount returned ranges from hundreds of thousands to millions of shekels within approximately six weeks. Shuv hopes the initiative will eventually be unnecessary, but for now, it provides crucial support during a difficult time, even offering post-receipt financial advice.