Structuring global wealth

IT'S CRUCIAL TO UNDERSTAND LAWS IN THE COUNTRY WHERE YOU INVEST

- Eric Jordaan

Key considerations to note when structuring estate plan for foreign assets.

As more South Africans look to externalize their rands and diversify through foreign investments, the need for multi-jurisdictional estate planning is growing.

Offshore investing is on the rise, and many families now have members living abroad.

Additionally, an increasing number are purchasing properties in countries like the UK, Australia and Mauritius, adding complexity to estate planning.

Key considerations:

Jurisdiction

The first step in developing a robust estate plan for foreign assets is understanding the jurisdiction in which those assets are held and the type and value of each asset.

Whether the assets are in a civil law or common law jurisdiction significantly affects how you structure your estate plan.

Civil law countries include France, the Netherlands, Germany, Spain and Portugal, along with most of Central and Eastern Europe and East Asia.