Wealth inheritance tools: including insurance, wills, trusts, offshore trusts, family funds, entrustment, etc. Entrustment includes lawyer's entrustment, notary's entrustment and relatives' entrustment. The other is identity arrangement, charitable foundation.
The significance of wealth inheritance: one is the continuous management of property, and the other is the continuous benefit of family members.
Portfolio of wealth inheritance tools: Trust, insurance, lawyer and will constitute the four basic tools of wealth inheritance.
Specific examples: for example, planned transfer of equity, conditional property transfer agreement, planned establishment of inheritance subsidiary, design and purchase of education for the aged, purchase of life insurance, offshore investment trust, family limited partnership, etc. , are all options. What is worth mentioning here is the property trust plan. Trust is to entrust private property to a trust institution, and the trust institution manages and disposes of the property in the name of the trust institution according to the wishes of the client, the interests of the beneficiaries designated by the client or for specific purposes. Trust has many functions, such as keeping wealth information confidential, avoiding judicial prosecution, blocking debt recourse, and not being deprived of the right to designate beneficiaries. Among them, the most interesting thing is that once the property is delivered to the trust institution, it is legally isolated from the client and plays a role in protecting the property. When the trust company disposes of the property to the beneficiary, it must fully comply with the wishes of the client and be free from interference from the administrative department, judicial department and creditors. Even if the customer dies, his instructions to manage and distribute wealth can continue. In particular, offshore trust can also protect debtors and avoid inheritance tax. In European and American countries, trust has become the most important tool in the planning and management of private wealth inheritance. At present, there is no real private wealth trust management in China. I believe that with the approach of inheritance tax collection, private wealth trusts will emerge as the times require. In this regard, we believe that the inheritance of wealth needs to be planned as soon as possible. According to the trend of national laws and policies, we should use professional knowledge and technology to plan the allocation of wealth, carry out scientific design and planning, improve the efficiency of wealth inheritance, and avoid and reduce the cost and loss of inheritance.
Liu Hui, a lawyer team of Beijing Longan Law Firm, is engaged in family legal services and provides consulting services on personal and family wealth management and planning. You can contact him through the website and office telephone number of Longan Law Firm.