We are involved with many aspects of multigenerational planning on a daily basis, including planning and arranging for wealth management, wealth preservation, business succession planning, protecting assets from creditors and ex-spouses, and tax-reduction planning. We help clients plan for wealth management, particularly in the case of younger family members whose lack of maturity, interest or responsibility toward managing assets could impact the succession of wealth planning under way. We use planning techniques and trusts to provide structure for the management and preservation of wealth through multiple generations, and assist clients in preventing negative outcomes from improvident decisions, accidents or bad fortune of family members or other beneficiaries.

As family wealth frequently comes in the form of an interest in one or more businesses or real estate investments, we work closely with other related Dentons practice groups to engage in business succession planning, to ensure the preservation of value through changes in leadership and to provide exit strategies, if appropriate.

We help clients to preserve wealth from potential loss to creditors, including spouses in the event of divorce, and also guide our clients when negotiating, preparing and executing pre-nuptial and post-nuptial agreements to protect against claims arising from divorce or death.

Part of our effort is spent planning for the preservation of wealth against gift, estate, inheritance or other transfer taxation. We help clients navigate the tax provisions of all applicable jurisdictions, to insure that such transfer taxes are reduced to the smallest possible amount within the desired structure, and that the maximum amount of property will pass to spouses, descendants, other family members, charities or other individuals.

Insights

Attracting the best: changes to the global investor programme

March 6, 2023

Singapore: In a bid to attract higher quality investors and individuals interested in obtaining Singapore Permanent Residence status, the Singapore Economic Development Board announced on 2 March 2023 several changes to the Global Investor Programme’s (GIP) application criteria which will take effect on 15 March 2023. In this client alert, we will outline the key changes to the GIP’s criteria and comment how the more stringent criteria might affect high-net-worth individuals who are interested to migrate to Singapore under the GIP.

Additional Buyer's Stamp Duty and Additional Conveyance Duty to apply for transfers of residential property into a living trust

May 17, 2022

Singapore: On 8 May 2022, the Ministry of Finance announced that with effect from 9 May 2022, any transfer of residential property into a living trust will be subject to additional buyer’s stamp duty at the rate of 35%, and with effect from 10 May 2022, additional conveyance duties will now apply to transfers of equity interests in Property Holding Entities into living trusts. Buyer’s stamp duty, ABSD, and seller’s stamp duty will also be imposed when a beneficial owner renounces his or her interest in residential property held on a bare trust.