Ronald Graham and Josh Eaton discuss COVID-19 impact on succession planning for The Wealth Net

The outbreak of COVID-19 has had a huge impact to varying degrees on all of us from both a financial and personal level.

For many international high net worth individuals, their initial focus was to review their assets on a global basis and then to take legal advice to consider how best to hold those assets for their family. Some have structured from scratch for the first time and others have decided to re-structure their holding structures.

The attraction of one form of family asset holding vehicle over another, such as a trust over a company, depends on several factors including control, flexibility and confidentiality. Approaches should be tailored to specific needs and circumstances.

However, certain forms of vehicle are favoured in different jurisdictions primarily as a result of local law.

Ronald and Josh review and compare the asset holding vehicles which have been popular in the key jurisdictions of UK, Germany and the Middle East, considering future generations and a changing fiscal environment in each relevant jurisdiction. 

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