International Estate Planning Strategies

International estate planning is an area of planning endemic with potential pitfalls for the unwary and ill-prepared, with a complex labyrinthine of rules entirely out of proportion to the frequency in which most traditional estate planning practitioners confront them. 

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Compounding to this already confusing area of planning, planners must also regularly contend with numerous tax treaties and multi-jurisdictional tax and inheritance rules.

International estate planning is about ensuring that you and your family’s offshore wealth is in good hands in the event of your death, and also that your estate will be in an optimal tax position. Your assets may be subjected to death taxes in different jurisdictions, referred to as situs tax, or forced inheritance rules depending on the jurisdiction the asset is invested in, as well as where the asset/structure is domiciled or registered.

Make sure your last wishes and intentions are fulfilled and not lost due to legislative or regulatory rules in another country

In its basic form, Estate and Succession Planning can be defined as the process of arranging, managing, protecting and transferring both financial capital as well as human capital from one generation to the next. So that one’s family and other beneficiaries may enjoy and continue to enjoy the maximum benefit from one’s estate during one’s lifetime and after one’s passing or incapacitation, no matter where in the world the assets are.

Simultaneously ensuring family value systems and principles are conveyed from one generation to the next.

Generally, people think that if you have a will and a trust, you have done your estate planning. Remember, estate/succession planning is always about the small and technical detail, plan for every thinkable scenario and never assume anything: 

The result is an adaptation of our MESPRA, this process will allow us to:

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• Review your entire structure inclusive of establishment deeds, structural compliance, and corporate governance, 

• Identify any possible estate, succession or tax planning risks, as well as 

• Review contracts/agreements you are party to that will have an effect on your succession or estate planning (for example shareholders & buy and sell, Trade agreements or Letter of wishes). 

• Development and Implementation of an International Estate Planning Strategy