Estate planning for ultra-high-net-worth individuals
Holding the bulk of one’s assets in South Africa poses risks for various reasons, including:
- Currency and regulatory volatility
- Political instability
- A challenging macroeconomic environment
- Challenging regulatory frameworks such as exchange control, which impose restrictions on the ability to freely trade with one’s assets
Thus, it is desirable for South African residents to hold a substantial portion of their assets offshore, if possible, which should be coupled with a coherent estate plan.
Estate planning structures are used for myriad reasons, including asset protection and seamless succession. In addition, it is often beneficial to indirectly own assets through a structure (such as a discretionary trust, insurance wrapper, etc.) in which the assets are still accessible, but not directly reported to the various regulators, whether it be for tax or other reasons.
The creation of the optimal structure is complex and is driven by numerous considerations. It is also not possible to apply a one-size-fits-all approach to such structuring – these structures need to be carefully considered and take account of an individual’s particular circumstances.
We assist clients by assessing their facts and helping them achieve the optimal estate planning outcome. In addition, we have a range of unique solutions, not readily available in the market, that can enhance any estate planning structure.
The outcome for our clients is an optimal estate planning structure that is robustly enhanced from a regulatory and commercial perspective through the use of sophisticated techniques that create value not only in the present, but for future generations.
Solutions
Corporate Transactions
Financial Instruments