People who have accumulated significant assets should ensure that their wills are valid, clear and up to date. At the same time, consideration should be given to trusts to ensure the continuity of certain arrangements and to protect assets against creditors. The ability to invest off-shore has created even more complexity in this area, with the possibility of creating structures in low-tax jurisdictions. Classic Private Wealth guides clients in setting up the appropriate vehicles and creating the necessary documents. In the event of the death of a client the advisor will ensure that all the arrangements for the winding up of the estate is put in place. Given changing circumstances and legislation, it is important to review wills and trusts on a regular basis. Trusts also require some ongoing administration, such as annual meetings of trustees, accounting and filing of tax returns.

 

Classic Private Wealth will assist clients in determining what is needed in their specific circumstances and arrange for all the required advice and implementation. To this end, we have put in place agreements with some of the most prominent legal firms in the country. Business people often find that, from tax and structuring points of view, it would have been better had they owned their businesses in trusts from the start. The sooner they get the appropriate advice, the more can be done to rectify the situation. Wealthy people also need tax advice and administration that is coordinated with their business and investment strategies. If clients have existing providers, Classic Private Wealth will work with them to ensure the best outcome. Where needed, Classic Private Wealth will arrange and manage appropriate providers.