Before we dive deeper into the subject of wealth structuring, it is important to have a basic understanding of the concept. We aim to provide this basis in this chapter.
While Joseph, the Managing Director of the Private Bank, was struggling to reduce the demoralizing number of outstanding e-mails in his inbox, his secretary entered his office. She seemed a bit nervous:
“There is a group of people in the boardroom. They want to see you now. I’m sorry, but I don’t know who they are and what it is about; it was not scheduled. They are very persistent.”
“No worries; I will see what’s the matter,” says Joseph.
Upon entering the boardroom, he noted that there were six people patiently waiting for him. He introduced himself to each of them and sat down. The atmosphere seemed somewhat tense. One of the six broke the uncomfortable tension and explained the reason for their visit.
“We are here with five siblings together with our mother. ...