Cross-Border Asset Planning and Succession Strategies

Introduction
Cross-border asset planning presents complex challenges for wealth creators with family members and assets across multiple jurisdictions. Succession planning, a crucial aspect of wealth management, ensures effective asset distribution while preserving long-term family stability and sustainability.

Key Challenges
Succession planning must be tailored to each family’s structure, asset profile, and legal requirements. However, multi-jurisdictional planning often involves:

1. Legal and Tax Complexity: Differences in tax systems and legal frameworks across jurisdictions complicate planning.
2. Coordination Among Professionals: Professional advisors often focus on their specialty, resulting in fragmented solutions.
3. High Costs and Inefficiency: Multiple adjustments and high consultation fees frequently lead to wasted resources.

Unique Challenges for Asian Wealth Creators
Asian wealth creators, especially those who have immigrated to the U.S. or shifted assets there, face significant risks related to tax exposure and compliance requirements. U.S. tax laws, particularly regarding estate and gift taxes, add layers of complexity to cross-border succession planning.

Existing Services vs. Unique Insights of This Book
Many wealth creators rely on Big Four accounting firms or international law firms, but these organizations often fail to deliver integrated solutions. This results in fragmented advice, contradictory opinions, and elevated costs. This report, grounded in real-world cases and the author’s personal experience, offers proven cross-border succession frameworks, emphasizing practical feasibility and cost efficiency.

Conclusion
Cross-border succession planning requires customized and comprehensive

Source: U.S. Trust and Estate Planning 2024