Vistra Insights

Transferring wealth: Establishing trusts for multigenerational succession planning

Client profile: A UHNW individual residing in Latin America with wealth accumulated in over 30 years, generated from family business and real estate investments

Challenges: Transferring wealth to multiple generations in a structured and orderly manner

Vistra services provided: Setting up of Irrevocable and Discretionary Trust with British Virgin Islands (BVI) company

Our ultra-high net worth individual (UHNWI) clients are often referred to us by Vistra’s network of tax lawyers or asset managers. As a Trustee, we play a fundamental role throughout the entire structuring process to assist clients in achieving their ultimate goals.

Our client, a UHNWI who has accumulated his wealth from family business and real estate investments for over 30 years and was concerned about transferring wealth to his three children (first generation) in a structured, compliant, and orderly manner. Thereafter, each of the children shall have a structure flexible enough for their respective successors. After thorough consultation with the client and his advisors, we decided that incorporating an Irrevocable and Discretionary Trust will best fit his needs - taking into account tax considerations and succession planning. We then helped the client set up a Trust with an underlying company based in the BVI, which holds investment portfolios consisting of liquid assets and real estate companies.

Due to the excellent and professional experience the client had with Vistra, the Settlor of the Trust decided to contribute additional trust funds to the structure. The first contribution consisted of a real estate property located in New York along with its holding structure. The holding structure is a Limited Liability Company (LLC) from Delaware. After that, additional contributions of real estate properties located in Florida and Texas followed.

Currently, the client is also considering further acquisitions of European real estate, for which Vistra is the client’s first choice to partner with.

Our relationship with the client continues to thrive and is based on trust and confidence. We are now entrusted with the administration of all entities within the client’s structure (BVI, LLCs and Trust).  We are proud to be the client’s trusted advisor.

As uncertainty continues to persist in the current environment, UHNWIs are searching for effective ways to ensure lasting legacies for the next generation. Our team of experienced professionals can support you in ensuring that your personal wealth remains as resilient as possible through the changes in the broader economic environment 

If you would like to discuss how Vistra can help you create, preserve or transfer your wealth, please contact one of your local experts: 

 

Location Name and title Phone number
UK Chris Marquis
Global Head of Private Wealth
+44 203 872 7325
China     Sherrie Dai
Managing Director, North Asia
+86 21 6085 6188
Hong Kong SAR Yumei Zhang
Executive Director, Head of Private Wealth, Greater China
+852 2848 7580
India     Navita Yadav
Managing Director, India & Mauritius
+91 22 2659 3882
India     Neeraj Aggarwal
Director, Private Wealth, India
+91 22 2659 3659
United Arab Emirates Heba Al Emara
Managing Director, Middle East
+971 4 278 3600
Singapore Chris Burton
Managing Director, South East Asia
+65 6854 8010
Singapore Christine Tan
Managing Director, South East Asia
+65 6854 8061
Jersey     Clive Wright
Managing Director, Jersey
+44 1534 504560
Malta Dr. Anthony Galea
Managing Director, Marine & Aviation
+356 2258 6400
Switzerland     Sascha Züger
Managing Director, Switzerland
+41 44 296 68 70
UK David Rudge
Managing Director, Corporate & Private Wealth UK
+44 203 872 7334
UK Charlotte Phipps-Hornby
Director, Corporates, UK
+44 7552 749476
UK Julius Bozzino
Executive Director, Private Wealth, International
+44 203 872 7384
Cyprus Nick Terry
Managing Director, Cyprus
+357 25 817 411
Luxembourg Joost Knabben
Commercial Director, Luxembourg
+352 422 229 530
Luxembourg Farabi Zakaria
Commercial Director, Luxembourg
+352 422 229 398
USA Raúl Markos
Director, Private Wealth
+1 305 978 1742

 

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