Transferring wealth: Establishing trusts for multigenerational succession planning
Client profile: A UHNW individual residing in Latin America with wealth accumulated in over 30 years, generated from family business and real estate investments
Challenges: Transferring wealth to multiple generations in a structured and orderly manner
Vistra services provided: Setting up of Irrevocable and Discretionary Trust with British Virgin Islands (BVI) company
Our client, a UHNWI who has accumulated his wealth from family business and real estate investments for over 30 years and was concerned about transferring wealth to his three children (first generation) in a structured, compliant, and orderly manner. Thereafter, each of the children shall have a structure flexible enough for their respective successors.
After thorough consultation with the client and his advisors, we decided that incorporating an Irrevocable and Discretionary Trust will best fit his needs - taking into account tax considerations and succession planning. We then helped the client set up a Trust with an underlying company based in the BVI, which holds investment portfolios consisting of liquid assets and real estate companies.
Due to the excellent and professional experience the client had with Vistra, the Settlor of the Trust decided to contribute additional trust funds to the structure. The first contribution consisted of a real estate property located in New York along with its holding structure. The holding structure is a Limited Liability Company (LLC) from Delaware. After that, additional contributions of real estate properties located in Florida and Texas followed.
Currently, the client is also considering further acquisitions of European real estate, for which Vistra is the client’s first choice to partner with.
Our relationship with the client continues to thrive and is based on trust and confidence. We are now entrusted with the administration of all entities within the client’s structure (BVI, LLCs and Trust). We are proud to be the client’s trusted advisor.
As uncertainty continues to persist in the current environment, UHNWIs are searching for effective ways to ensure lasting legacies for the next generation. Our team of experienced professionals can support you in ensuring that your personal wealth remains as resilient as possible through the changes in the broader economic environment
If you would like to discuss how Vistra can help you create, preserve or transfer your wealth, please contact one of your local experts:
| Location | Name and title | Phone number |
|---|---|---|
| UK | Chris Marquis Global Head of Private Wealth |
+44 203 872 7325 |
| China | Sherrie Dai Managing Director, North Asia |
+86 21 6085 6188 |
| Hong Kong SAR | Yumei Zhang Executive Director, Head of Private Wealth, Greater China |
+852 2848 7580 |
| India | Navita Yadav Managing Director, India & Mauritius |
+91 22 2659 3882 |
| India | Neeraj Aggarwal Director, Private Wealth, India |
+91 22 2659 3659 |
| United Arab Emirates | Heba Al Emara Managing Director, Middle East |
+971 4 278 3600 |
| Singapore | Chris Burton Managing Director, South East Asia |
+65 6854 8010 |
| Singapore | Christine Tan Managing Director, South East Asia |
+65 6854 8061 |
| Jersey | Clive Wright Managing Director, Jersey |
+44 1534 504560 |
| Malta | Dr. Anthony Galea Managing Director, Marine & Aviation |
+356 2258 6400 |
| Switzerland | Sascha Züger Managing Director, Switzerland |
+41 44 296 68 70 |
| UK | David Rudge Managing Director, Corporate & Private Wealth UK |
+44 203 872 7334 |
| UK | Charlotte Phipps-Hornby Director, Corporates, UK |
+44 7552 749476 |
| UK | Julius Bozzino Executive Director, Private Wealth, International |
+44 203 872 7384 |
| Cyprus | Nick Terry Managing Director, Cyprus |
+357 25 817 411 |
| Luxembourg | Joost Knabben Commercial Director, Luxembourg |
+352 422 229 530 |
| Luxembourg | Farabi Zakaria Commercial Director, Luxembourg |
+352 422 229 398 |
| USA | Raúl Markos Director, Private Wealth |
+1 305 978 1742 |
The contents of this article are intended for informational purposes only. The article should not be relied on as legal or other professional advice. Neither Vistra Group Holding S.A. nor any of its group companies, subsidiaries or affiliates accept responsibility for any loss occasioned by actions taken or refrained from as a result of reading or otherwise consuming this article. For details, read our Legal and Regulatory notice at: http://www.vistra.com/notices . Copyright © 2022 by Vistra Group Holdings SA. All Rights Reserved.
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