A private family trust offers flexibility for not only effective wealth management but also smooth transfer of family wealth over generations. A combination of proactively planned trust and holding structure pre-empt range of possible scenarios to:
- facilitates asset protection;
- ensure smooth family succession and avoid family disputes;
- facilitate tax efficient management of the family business and wealth; and
- mitigate impact of potential introduction of estate duty.
While trust structure extends the above significant benefits, due considerations should be given to tax and regulatory aspects while conceptualising a private trust structure for its efficient and effective functioning.
We advise HNIs on tax efficient structures for wealth management, family succession, asset protection, exit strategies and other succession and trust planning matters (including leveraging on Singapore’s well-established trust management regime).