Appointing a trust corporation to handle your affairs is key. It can take title over land where necessary.
Meanwhile, financial institutions would generally be more comfortable when offering specialist trustee financial products, avoiding the common problems associated with trusts when there’s only a single trustee.
Trust corporations should also have the expertise in-house to help manage the cross-jurisdictional issues that arise.
Recognise your financial future starts today
Although it is not always too late to consider what happens to assets when you die, it is equally true that estate planning can never begin too early.
This applies whether your clients have spent many successful years in business or they are simply an ambitious graduate who might not be thinking about passing on their hard-won wealth until many decades into the future.
Putting a clear, strategic wealth management roadmap in place from the moment their money starts to grow is the solution.
This may reasonably include the flexibility to be internationally mobile, which may be part of protecting your client's lifestyle.
It also allows you to structure your client's assets across the most efficient tax wrappers, with succession planning involving specialist wills, trusts and expert trustees.
This means clients can rest easy knowing that a long list of financial aspects will be taken care of for multiple generations.
Your clients may be visionary; people who seek to ensure the influence of their legacy transcends their own lives.
If that is the case, the financial advisers and specialists around them need to share that vision, too.
Mohammad Uz-Zaman is founder of ADL Estate Planning
