High-net-worth individuals leave their wealth at risk without succession planning

AS HIGH-NET-WORTH (HNW) individuals and families around the globe build their fortunes, they are increasingly understanding the critical importance of protecting their wealth for future generations. This is where succession and estate planning come into play.

Research indicates that some of the challenges affluent individuals encounter in achieving their inheritance goals include navigating the complex and varied structures for their wealth and assets around the world, while taking into account family developments, legal hindrances, tax and regulatory changes and even uncertain or volatile world events.

In Asia-Pacific, working with experts for legacy planning is all the more relevant. This is primarily because family-owned firms, comprising 80 per cent of businesses across Asia-Pacific, wield substantial influence over regional economies.