Succession Planning
Secure your family's financial future and preserve your legacy with Mastery Trust Limited's expert Succession Planning services.
As life's journey progresses, ensuring the seamless transfer of wealth to your loved ones becomes paramount. Our dedicated team understands the intricacies of wealth preservation, tax optimization, and family dynamics. By entrusting us with your Succession Planning, you're choosing a strategic partner that empowers you to navigate the complexities of intergenerational wealth transfer, safeguarding your assets and ensuring your family's prosperity for generations to come.
1
Protecting the weak
A trust is a useful vehicle for people who may want to provide for those who are unable to manage their own affairs, such as infant children, the aged, the sick or disabled. Trusts can allow for the independent support of those who require it most.
2
Preserving family assets
Preserving family assets, or growing them, is often a motive for setting up a trust. An individual may wish to ensure that wealth accumulated over a lifetime is not divided up amongst their heirs, but rather is retained as one fund to accumulate further. A trust offers a mechanism for preserving family assets while offering the flexibility to allow payments to beneficiaries as the need arises. This can be further enhanced with a unified fund for investment/asset management.
3
Continuing a family business
An entrepreneur who has built up a business will often be concerned to ensure that it continues after their death. If the shares in the business are transferred to trustees prior to death, a trust can be used to prevent the unnecessary liquidation of a family company while providing for payments to be made to members of the family from dividend income. This may be particularly advantageous where family members have little business experience of their own or where they are unlikely to agree on running the business. This is never more applicable than in an Initial Public Offering (IPO) situation where the creation of a pre-IPO trust for major family or employee shareholdings can offer a raft of benefits.
What We Do
We can provide peace of mind and make better use of your time by skillfully fulfilling a range of trust and fiduciary responsibilities, including:
Needs Assessment
Understand the client's goals, assets, and family dynamics to develop a personalized succession plan.
Beneficiary Designations
Review and update beneficiary designations on accounts and policies to align with the succession plan.
Estate Planning
Draft legal documents such as wills, trusts, and powers of attorney to ensure assets are distributed according to the client's wishes.
Tax Optimization
Implement strategies to minimize estate and gift taxes, preserving the maximum value for beneficiaries.
Asset Valuation
Determine the value of assets to accurately plan for tax implications and distribution strategies.
Regular Monitoring
Continuously assess and adjust the succession plan to accommodate changing family dynamics, laws, and financial circumstances.