Help, I m Rich!: Your Compass to a Value-Adding Private Banking Experience

Chapter 14 Wealth Structuring Tools and Vehicles

The legal vehicles that are commonly used in the wealth structuring process are:

• The will
• The (offshore) company
• The trust
• The insurance wrapper

Which vehicle is most suitable for you typically depends on:

• Your financial situation
• Your family situation
• The type and complexity of your assets
• Your jurisdiction(s)

Structuring refers to the setup of a legally enforceable way to treat and deal with your assets. Which structural tool is most applicable to your situation and hence most suitable for you depends on many factors:

• Your financial situation
• Your marital and family situation
• The type and complexity of your assets
• Your jurisdiction(s)

Common Wealth Structuring Tools and Vehicles

As there are many roads leading to Rome, there are many ways to realize your wealth structuring objectives. In this chapter we describe the most common wealth structuring tools, including their respective advantages and disadvantages.

Wills

As defined earlier (see the sidebar in Chapter 12), a will is a legal document that contains your wishes regarding the distribution of your assets and the care of minor children (or pets). The traditional type of will, the testamentary will, is a formally prepared document that is signed in the presence of witnesses. Not all wills are only meant for distribution of your assets after your death. The living will sets forth your wishes for medical care in terms of life support should you become incapacitated. ...