Lifetime Planning

In order to plan for the future of your loved ones, provide continuity for the wealth you have built up over the years with your hard work, make it possible to transfer your company to future generations, you need to learn about cross-border succession, choose the right governing law and thoroughly evaluate the many pros and cons. Planning for succession is about both your assets and your personal story. We deal with the former, taking into account the latter. Not drawing up a will or using the various tools available is similar to putting a blank piece of paper into the ballot box of eternity. We ensure your will works and is binding.

We can assist clients with robust succession planning, taking account of the different jurisdictions in which the family and property are located as well as the different natures of the property held (whether real estate, business interests or intangible property), ensuring that the assets pass to the right people in the most tax efficient way.

For further information

WE PROVIDE ADVICE IN THE FOLLOWING AREAS:

Drafting of local and international wills

Whether the assets are located in one jurisdiction or extend across many, we have the experience to put the right type of will or wills in place to govern an estate in a coordinated manner. With local experts in many jurisdictions, we are equipped to advise on the most appropriate global estate plan to achieve the testator’s wishes.

Set up of family trusts

Family trusts can be a powerful estate planning tool. The benefits of using family trusts range from the stewardship of family businesses to allowing for flexible succession and tax planning, avoiding complex and lengthy probate procedures and providing for disabled children. We take a global view on the suitability of a family or business trust for estate planning purposes.

Investment policies

Investment wrappers can provide an efficient succession tool when properly drafted, as well as an element of asset protection to the extent that this is possible in any relevant jurisdiction. We are experienced in assisting our clients set out clearly their objectives and help them decide whether an investment wrapper is an appropriate succession tool.

Matrimonial regimes

Matrimonial property regimes are sets of rules which govern how property acquired prior or during the marriage is beneficially held between the spouses and determine how such property will be shared on divorce or on the death of one spouse. These regimes vary greatly by jurisdiction. We can help choose or understand a regime that aligns with the individual’s views and values. We can also advise on the suitability of entering into an additional pre-nuptial agreement, enforceable in more than one jurisdiction.

Succession pacts

Some jurisdictions enable individuals to enter into agreements with each other about how their estates will pass when they die. The popularity of succession pacts and their enforceability varies by jurisdiction. We can help determine whether this is a valid option in light of the circumstances.

Lifetime donations

One of the joys of financial success is the ability to see one’s family members benefit from it during one’s own life. Lifetime donations allow for this, and we regularly help clients make gifts to their children, family members or charities in a tax efficient manner.

Incapacity issues

In times of increasing life expectancy, loss of capacity touches more and more families. The difficulties brought about by loss of capacity can be minimised through the use of lasting powers of attorney or other legal instruments which allow family members or close friends to make decisions on the donor’s behalf. Where assets are located in multiple jurisdictions, it may be necessary to consider whether a document prepared in one jurisdiction is recognised and effective in other countries where the assets may be located. We can help draft proper documents when individuals are no longer able to make decisions for themselves.