Challenges and opportunities at a glance
We thought about the provisions wealthy clients should consider related to their estate. What are the challenges waiting for business partners and their customers today and tomorrow?
Only one quarter of all clients have implemented a will
If a wealthy individual does not have a will, the statutory provisions on succession apply upon his or her death. The consequence is the probate process first has to be accomplished which may take a while.
Clients consider the inheritance law - especially the tax regulations - to be complicated. With timely structuring, the tax burden can be reduced considerably.
Free choice of beneficiaries in quota and rank - revocable at any time
With Private Placement Life, a payout to named beneficiaries can be easily set up. This beneficiary clause is a contractual agreement - the assets do not become part of the deceased's estate in the event of death. An inheritance certificate is not necessary.