專業叢書
U.S. Trust and Estate Planning 美國信託規劃實務（英文部分）
Chapter 1 Introduction to Cross-Border Estate Planning
Shouldn’t estate planning be customized? Aren’t U.S. attorneys the best solution when it comes to estate planning? How do I know if the solutions this book provides really work?
Estate planning can and should be customized to each individual. That is why there is an entire industry devoted to wealth and estate planning. In our experience, Asia-based families frequently struggle with the same issues and have similar concerns when it comes to estate planning.
The most common theme is that Wealth Creators who generated substantial holdings in Asia have:
When completing such a change in identity (becoming a U.S. person) or transfer in assets (moving assets into the U.S.), Wealth Creators may not fully understand the legal and tax implications. To this end, Asian Wealth Creators often attempt to resolve these issues by hiring professionals both in the U.S. and in Greater China.
Some even retain the services of the Big Four Accounting Firms or large and established global law firms. In our experience, engagements with these advisors rarely yield effective and cost-efficient results. In practice, many of these firms often have a difficult time piecing together the relevant laws and regulations of multiple jurisdictions.
Further complicating the situation, practitioners at U.S.-based law firms and accounting firms focus exclusively on the area of estate planning that they specialize in, often deferring to other qualified professionals’ opinions when questions relating to other areas of estate planning arise. Unfortunately, this often results in the client receiving subpar outcomes, conflicting opinions and hefty fees. This is where this book could be useful. Every example illustrated this book has been understood and utilized by Wealth Creators who have similar questions and concerns.
The lead author of this book has settled numerous trusts for himself and his family. The majority of structures in this book have not only been created by the author, but they are also currently being updated, maintained, and improved upon to this day. Unlike most practitioners, who attest to their clients’ successes, the author actually utilizes this book’s very structures and can speak to their efficacy.
Wealth Creators should consider their succession strategy a core task and prioritize the creation of a sustainable plan to pass their assets on to their successors. While understanding key concepts can help, case studies are often the best way to truly understand estate planning and wealth succession. We include five illustrative case studies herein to help Wealth Creators with thinking about their trust planning.
The most common theme is that Wealth Creators who generated substantial holdings in Asia have:
1. immigrated to the U.S. themselves
2. had their spouse and / or descendants immigrate to the U.S.
3. invested in the U.S. by transferring all or a portion of their wealth from Asia.
When completing such a change in identity (becoming a U.S. person) or transfer in assets (moving assets into the U.S.), Wealth Creators may not fully understand the legal and tax implications. To this end, Asian Wealth Creators often attempt to resolve these issues by hiring professionals both in the U.S. and in Greater China.
Some even retain the services of the Big Four Accounting Firms or large and established global law firms. In our experience, engagements with these advisors rarely yield effective and cost-efficient results. In practice, many of these firms often have a difficult time piecing together the relevant laws and regulations of multiple jurisdictions.
Further complicating the situation, practitioners at U.S.-based law firms and accounting firms focus exclusively on the area of estate planning that they specialize in, often deferring to other qualified professionals’ opinions when questions relating to other areas of estate planning arise. Unfortunately, this often results in the client receiving subpar outcomes, conflicting opinions and hefty fees. This is where this book could be useful. Every example illustrated this book has been understood and utilized by Wealth Creators who have similar questions and concerns.
The lead author of this book has settled numerous trusts for himself and his family. The majority of structures in this book have not only been created by the author, but they are also currently being updated, maintained, and improved upon to this day. Unlike most practitioners, who attest to their clients’ successes, the author actually utilizes this book’s very structures and can speak to their efficacy.
Wealth Creators should consider their succession strategy a core task and prioritize the creation of a sustainable plan to pass their assets on to their successors. While understanding key concepts can help, case studies are often the best way to truly understand estate planning and wealth succession. We include five illustrative case studies herein to help Wealth Creators with thinking about their trust planning.
