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  Estate Planning and Asset Protection
 

Modern trustees make use of many types of commercial and specialist vehicles, - including Trusts or Foundations, - to manage the affairs of their clients’ in relation to Estate Planning, Asset Protection and Tax Minimization High-Net-Worth individuals are often not fully of aware what a Trust or Foundation is nor what it can do to help them. As a result, most people prefer to deal with ‘a company’ - something they recognize and understand However, in order to take full advantage of Estate Planning and Asset Protection, it is advisable to have a Trust or Foundation established with assets held in a company owned by that Trust or Foundation.

In general, a Trust or Foundation is created when the Settlor or Founder (the person making the trust/foundation) and Trustee, execute a legal deed that lays down the method in which the Assets are to be held in trust for beneficiaries (people who will receive funds from the Trust/Foundation). The assets from the Settlor/Founder going into the Trust will need to be physically transferred to the Trustee. The Trustee then becomes the legal owner of these assets and has a “professional duty of care” to look after these assets for the beneficiaries of the established Trust/Foundation.

We can assist in establishing Trusts in jurisdictions such as Hong Kong, Singapore, Liechtenstein and New Zealand and also establish Foundations in Liechtenstein or Panama. The suitability of a Trust or Foundation and the jurisdiction of governing law will depend entirely on each of the client’s particular situations, geographical location and even simply the choice of persona. Generally, there are no public registers of Trusts, therefore there is almost always anonymity for the beneficiaries within a Trust. However, there are limited reporting requirements in Liechtenstein and Panama (which can also be an advantage because at least the “Trust or Foundation name” is registered with an official registry. Usually, nothing more than the name is reported).

By establishing a suitable fiduciary vehicle, clients achieve the following favorable positions:

  • Protection of assets from sequestration. In some cases where a forced heir-ship regime exists, we can ensure assets are distributed according to personal wishes, rather than those laid down by law

  • The prevention of the dissipation of family wealth and maintaining continuity of family assets

  • Migration of family wealth and executing family philanthropic objectives

  • Provision of education and maintenance for children and other family members

  • Protecting the next generations from losing assets through divorce

  • Long term care and provision of funds for handicapped or high maintenance dependants/children

  • Corporate and personal tax structuring to reduce taxation at home and in foreign jurisdictions (such as reducing personal and estate taxes and death duties or capital/gift taxes).

For a more detailed discussion, please contact Mr. Saji MATHEW,

Direct Tel No.: 852 2230 9302, Email: sm@anderglobal.com