Client E was introduced by a professional family office contact in Australia. The client is a second generation wealth owner who is currently living between Europe and Asia and is considering a relocation to Australia. The family’s assets include various bank portfolios in Switzerland and Asia as well as significant private investments in China.
We are working with the family to tailor a bespoke succession plan to meet their long term requirements. We met with the clients numerous times to understand their requirements and preferences. The family requires a succession planning solution to provide wealth preservation, asset protection and a smooth transition of wealth to the third generation. The family also needs a solution which considers their relocation plans and works with their destination country.
We held several educational sessions to explain various solutions, including Australian trusts, domestic Australian superannuation funds, international superannuation funds and private placement life insurance. We discussed with the family at length and agreed on the appropriate structures to meet their requirements.
We are currently working with insurance specialists to tailor a private placement life insurance structure solution to hold the traditional portfolios and private investments, including operating businesses. We have liaised with other advisors to ensure we identified the right long term partners including insurance carriers, tax advisors and custodians who can work together to meet the client’s needs. We will then oversee the implementation to ensure that this is undertaken smoothly and efficiently.
By working with Legacy Wealth Advisors, the client benefits from our experience of various jurisdictions including Australia, Asia & Europe. The client is grateful for our holistic approach, our breadth of expertise and our international experience, without which the client would have had to obtain numerous pieces of narrowly focused advice and work out how to fit them all together.
The client now has peace of mind that they will have a robust succession plan to meet their long term requirements and to ensure a smooth transition of wealth to the next generation.
