Estate Planning

Rothenburg ob der Tauber

An Instrument for Asset Succession – The Family Pool

By Brigitte Jakoby, Jakoby Dr. Baumhof – Wirtschaftsprüfer Steuerberater Rechtsanwälte

The term “family pool” can not be found in any legal text. It is not a legal term. Basically, it defines a company, in which the family assets are collected, hold and handed over in an easy way to the fol-lowing generations. Purposes of these family companies can be the preservation of the family assets on the one hand, the fair treatment of heirs, an useful designed asset succession regarding tax law or the efficient management of the family assets. Depending on the respective family assets, the em-phasis on the aforementioned target parameters can be very different.

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Estate Planning

“…and they lived happily ever after?”

By Sergio Guerrero Rosas, Guerrero y Santana, S.C.

For that statement to be true, we must have control of what we want for our family and our heritage before any eventuality. If this is not the case, let's not allow our dream to become our worst nightmare; foreseeing possible disagreements is the best way to prevent them from happening.

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Estate Planning

Saint-Tropez

Life Insurance in Luxembourg

By Christophe Maulny and Alexane Palide, Anthony & Cie

As part of our International Family Office core business, we often work on interesting creative wealth strategy as well as real estate planning that would have been very difficult to envisage before meeting the person at the source of inspiration.

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Estate Planning

Family Limited Partnerships

By Dennis L. Nerland, Shea Nerland LLP

A Family Limited Partnership (“FLP”) is nothing more than a limited partnership, created as a vehicle to transfer income and title to assets from the family head to other family members, rather than to a non-family business associate. When the owner of a business is in a high income tax bracket, this transfer can drastically reduce any personal liability and taxes.

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Estate Planning

To gift, or not to gift

By Allen J. Falke, Mirick, O’Connell, DeMallie & Lougee, LLP

The topic of gifting assets is often an important discussion in the world of estate planning. Generally, a main point of gifting is to remove assets from the estate of the donor to avoid potential estate taxes on the asset.

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Estate Planning

Overview of Italian use and taxation of trusts

By Prof Stefano Loconte, Loconte & Partners

Although Italy is a civil law country, it has recognised the common law trust since 1992 with the adoption of The Hague convention of July 1985, but up until now, the Italian civil law code has not contained any provisions concerning trusts. However, it is possible to set up a trust with foreign law subject to The Hague Convention and in accordance with public policy. In Italy, domestic trusts are considered to be those that have only their proper law as a foreign element.

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Estate Planning

The Pitfalls of Multijurisdictional Wills

By Robert Worthington, Shea Nerland LLP

It is fairly common for clients to have assets and family members located in more than one country. In such circumstances, a sensible approach to estate planning may be to have separate Wills to cover the assets located in different countries to simplify the administration of a deceased’s estate in each country. However, it also creates traps for the unwary.

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Estate Planning

New Zealand Foreign Trusts under the spotlight

By Bethan Boscher, Morrison Kent

Following the recent media attention to the New Zealand Foreign Trust (“NZFT”) industry, John Shewan, appointed by the New Zealand Government to conduct a review on the product, has released his report and recommended that the NZFT offering is retained but with a significant increase in disclosure requirements. But what does this mean in practice for NZFTs and can New Zealand continue to maintain its high international reputation by continuing its NZFT industry?

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