Planning for multi-jurisdictional estates and transferring wealth to heirs in the most tax-efficient way with the least amount of administration are often key concerns for ultra affluent clients.
We work closely with the legal and tax advisors of our clients to ensure that any life insurance or financial product is structured correctly. The use of trusts is of particular importance as they can allow for gifts to be made, which reduce the size of one’s estate. The trust will generally hold a life insurance policy, which can deliver an enhanced death benefit to the trust at the client’s death. This strategy can be used to settle death duties in any of a number of jurisdictions.
Experience of working in multiple jurisdictions is critical in the planning of the global citizen as trust, insurance and investment rules vary from one country to another; what may be perfectly acceptable in practice in one country can cause additional taxation and administrative complications in another. Vie International’s advisors are leaders in multi- jurisdictional planning and have the ability to source financial products from a broad range of carriers around the world.