You have spent your lifetime building up your wealth. It was most likely a bumpy ride but you’ve made it. The next question is: How do you transfer it to the next generation?
Estate planning involves planning for how your assets will be preserved, managed, and distributed after your demise. It should be regarded as an evolving process that develops as your life and family circumstances change.
There are many aspects to consider in the process:
- Your domicile and residence status – they will have an effect on which jurisdiction’s law will apply. Furthermore, they impact your tax statement.
- The location of your assets – which jurisdiction’s law will govern the succession of your assets?
