Case Study No 6 – Asset Protection
- Ex high level association in politics
- Been away from active politics since a decade
- Interest lies in investing and mentoring start ups
- Extended family is partially dependent on support from Patriach
- Serial Investor and Venture Capitalist
- Has made significant returns on invested stakes
- Current net worth is approx. 600 Million USD
- Business interests lie in Real Estate, Transport and Logistics
- Well read and travelled and has clarity on asset distribution and family holding patterns
Family Tree:
Assets:
- Agricultural land
- Significant stake holding in listed IT start ups
- Residential plots and houses
- Well invested in Equity Markets
- Commercial Properties
Objective of Family:
- Set up Asset Protection Trust to secure Family’s future due to political exposure
- To ensure equal distribution of assets for both children to be able to function independently
- To ensure the family wealth remains protected as both sons are of Marriageable age
- Intertwine both trusts in such a way that the children can protect each others well being in the future yet be independent of interference
- Enjoy a peaceful retirement
- Ensure smooth passage of assets to the trusts and achieve living benefits for Category 1 beneficiaries either / or survivor
- Education, Marriage and Healthcare for current and next generations
Recommendations:
- Formation of 1 Asset Protection Trust
- Formation of 2 Private Family Trusts for:-
- Son 1 Family Trust
- Son 2 Family Trust
- Drafting of 4 Wills for: –
- Father
- Mother
- Mr. X
- Mrs. Y
