How is it possible to misplace an asset you may ask?
Well, in the world where we can work the morning in Hong Kong, lunchtime in London, and the afternoon in New York, it is not that difficult for a family not to be able to track and trace an asset unless your multi-jurisdictional estate and succession planning is in place and up to date.
When dealing with multi-jurisdictional families where family members, assets or both are spread across multiple countries, it is important to make sure that the beneficiaries understand the strategy or know who to contact due to any trigger event.
This week we dealt with two examples.