Insights / November 14th, 2018

Succession Planning Strategies for High Net Worth Individuals and Families, Presented by Peter Slegers and Emily Anderson

Passing wealth from one generation to the next has its challenges and has become an increasingly complex area for high net worth families and their advisers. The session reviewed a number of strategies that will be of relevance to high net worth individuals and family groups addressing inter generational changes in the control of business and wealth accumulation structures.

Given the importance of succession planning for our client base, Cowell Clarke has assembled a dedicated team to provide a high-quality service offering to clients in this area. The presentation addressed the following:

  • Use of asset revaluation strategies to create fixed interests in discretionary trusts;

  • Use of tailor made Enduring Powers of Attorney to effectively manage SMSF benefit payments;

  • Superannuation proceeds trusts;

  • Use of ”controller trust” structures;

  • Managing against third party risk i.e. Family Court powers and inheritance claims;

  • Will drafting issues for complex estates.

If you would like a copy of the presentation or would like to speak to someone about your succession planning strategies, please contact Peter Slegers or Emily Anderson.