i Table of contents 706

Private Wealth 2025

Definitive global law guides offering comparative analysis from top-ranked lawyers

INTRODUCTION		7
Contributed by Basil Zirinis and Elizabeth Kubanik, Sullivan & Cromwell LLP		7
ARGENTINA		14
Law and Practice		14
Contributed by McEWAN		14
Trends and Developments		29
Contributed by McEWAN		29
AUSTRIA		33
Law and Practice		33
Contributed by Schindler Attorneys		33
BAHAMAS		49
Law and Practice		49
Contributed by McKinney, Bancroft & Hughes		49
Trends and Developments		58
Contributed by McKinney, Bancroft & Hughes		58
BELGIUM		62
Law and Practice		62
Contributed by Tiberghien		62
Trends and Developments		75
Contributed by Arteo		75
CANADA		82
Law and Practice		82
Contributed by Hull & Hull LLP		82
Trends and Developments		98
Contributed by Hull & Hull LLP		98
CHINA		104
Law and Practice		104
Contributed by Commerce & Finance Law Offices		104
Trends and Developments		121
Contributed by Dacheng Law Offices		121
COLOMBIA		128
Law and Practice		128
Contributed by Rimon, P.C.		128
Trends and Developments		147
Contributed by Rimon, P.C.		147
FRANCE		152
Law and Practice		152
Contributed by Chauveau Mulon & Associés		152
GERMANY		171
Law and Practice		171
Contributed by Flick Gocke Schaumburg		171
Trends and Developments		188
Contributed by Flick Gocke Schaumburg		188
GREECE		194
Law and Practice		194
Contributed by Bernitsas Law		194
Trends and Developments		217
Contributed by Machas & Partners		217
HONG KONG SAR, CHINA		223
Law and Practice		223
Contributed by Charles Russell Speechlys		223
Trends and Developments		241
Contributed by King & Wood Mallesons		241
INDIA		246
Law and Practice		246
Contributed by Cyril Amarchand Mangaldas		246
Trends and Developments		264
Contributed by Khaitan & Co		264
ISRAEL		271
Law and Practice		271
Contributed by FISCHER (FBC & Co.)		271
ITALY		288
Law and Practice		288
Contributed by Gatti, Pavesi, Bianchi, Ludovici		288
Trends and Developments		310
Contributed by Maisto e Associati		310
JAPAN		316
Law and Practice		316
Contributed by Mori Hamada & Matsumoto		316
LUXEMBOURG		325
Law and Practice		325
Contributed by CMS		325
Trends and Developments		350
Contributed by ATOZ Tax Advisers		350
MALTA		355
Law and Practice		355
Contributed by Fenech & Fenech Advocates		355
MAURITIUS		372
Law and Practice		372
Contributed by CMS Prism		372
MEXICO		389
Trends and Developments		389
Contributed by Galicia Abogados, S.C.		389
NETHERLANDS		396
Law and Practice		396
Contributed by Arcagna		396
Trends and Developments		411
Contributed by Forvis Mazars NV		411
NEW ZEALAND		416
Law and Practice		416
Contributed by Cone Marshall Limited		416
Trends and Developments		430
Contributed by Cone Marshall Limited		430
NORWAY		436
Law and Practice		436
Contributed by Advokatfirmaet Hjort AS		436
Trends and Developments		450
Contributed by Advokatfirmaet Hjort AS		450
PERU		457
Law and Practice		457
Contributed by Rebaza, Alcázar & De Las Casas		457
Trends and Developments		470
Contributed by Rebaza, Alcázar & De Las Casas		470
PORTUGAL		477
Law and Practice		477
Contributed by Durham Agrellos		477
Trends and Developments		487
Contributed by Durham Agrellos		487
SINGAPORE		492
Law and Practice		492
Contributed by WongPartnership LLP		492
Trends and Developments		512
Contributed by DBS Private Bank		512
SPAIN		518
Law and Practice		518
Contributed by Anaford Abogados		518
SWITZERLAND		530
Law and Practice		530
Contributed by Tax Partner AG		530
TURKS & CAICOS		545
Law and Practice		545
Contributed by Coriats Trust Company Limited		545
UK		551
Law and Practice		551
Contributed by Irwin Mitchell		551
Trends and Developments		569
Contributed by Irwin Mitchell		569
US VIRGIN ISLANDS		576
Trends and Developments		576
Contributed by Marjorie Rawls Roberts P.C.		576
USA		585
Law and Practice		585
Contributed by Holland & Knight LLP		585
Trends and Developments		601
Contributed by Schindler Cohen & Hochman LLP		601
USA – CALIFORNIA		609
Law and Practice		609
Contributed by Pillsbury Winthrop Shaw Pittman LLP		609
Trends and Developments		623
Contributed by Pillsbury Winthrop Shaw Pittman LLP		623
USA – FLORIDA		629
Law and Practice		629
Contributed by Pillsbury Winthrop Shaw Pittman LLP		629
Trends and Developments		642
Contributed by Pillsbury Winthrop Shaw Pittman LLP		642
USA – MASSACHUSETTS		649
Law and Practice		649
Contributed by Rimon, P.C.		649
Trends and Developments		661
Contributed by Rimon, P.C.		661
USA – NEVADA		665
Law and Practice		665
Contributed by Solomon Dwiggins Freer & Steadman		665
Trends and Developments		675
Contributed by McDonald Carano		675
USA – NEW YORK		679
Law and Practice		679
Contributed by Teitler & Teitler LLP		679
USA – TEXAS		687
Law and Practice		687
Contributed by Ytterberg Deery Knull LLP		687
Trends and Developments		702
Contributed by Ytterberg Deery Knull LLP		702
1. Tax		16
1.1 Tax Regimes		16
1.2 Exemptions		18
1.3 Income Tax Planning		18
1.4 Taxation of Real Estate Owned by Non-Residents		18
1.5 Stability of Tax Laws		19
1.6 Transparency and Increased Global Reporting		20
2. Succession		21
2.1 Cultural Considerations in Succession Planning		21
2.2 International Planning		21
2.3 Forced Heirship Laws		21
2.4 Marital Property		22
2.5 Transfer of Property		23
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		23
2.7 Transfer of Assets: Digital Assets		23
3. Trusts, Foundations and Similar Entities		23
3.1 Types of Trusts, Foundations or Similar Entities		23
3.2 Recognition of Trusts		24
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		24
3.4 Exercising Control Over Irrevocable Planning Vehicles		24
4. Family Business Planning		24
4.1 Asset Protection		24
4.2 Succession Planning		24
4.3 Transfer of Partial Interest		25
5. Wealth Disputes		25
5.1 Trends Driving Disputes		25
5.2 Mechanism for Compensation		25
6. Roles and Responsibilities of Fiduciaries		25
6.1 Prevalence of Corporate Fiduciaries		25
6.2 Fiduciary Liabilities		26
6.3 Fiduciary Regulation		26
6.4 Fiduciary Investment		26
7. Citizenship and Residency		26
7.1 Requirements for Domicile, Residency and Citizenship		26
7.2 Expeditious Citizenship		26
8. Planning for Minors, Adults with Disabilities and Elders		26
8.1 Special Planning Mechanisms		26
8.2 Appointment of a Guardian		26
8.3 Elder Law		27
9. Planning for Non-Traditional Families		27
9.1 Children		27
9.2 Same-Sex Marriage		27
10. Charitable Planning		27
10.1 Charitable Giving		27
10.2 Common Charitable Structures		28
1. Tax		35
1.1 Tax Regimes		35
1.2 Exemptions		36
1.3 Income Tax Planning		36
1.4 Taxation of Real Estate Owned by Non-Residents		37
1.5 Stability of Tax Laws		37
1.6 Transparency and Increased Global Reporting		38
2. Succession		39
2.1 Cultural Considerations in Succession Planning		39
2.2 International Planning		39
2.3 Forced Heirship Laws		39
2.4 Marital Property		40
2.5 Transfer of Property		40
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		40
2.7 Transfer of Assets: Digital Assets		40
3. Trusts, Foundations and Similar Entities		41
3.1 Types of Trusts, Foundations or Similar Entities		41
3.2 Recognition of Trusts		41
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		41
3.4 Exercising Control Over Irrevocable Planning Vehicles		42
4. Family Business Planning		43
4.1 Asset Protection		43
4.2 Succession Planning		43
4.3 Transfer of Partial Interest		43
5. Wealth Disputes		43
5.1 Trends Driving Disputes		43
5.2 Mechanism for Compensation		43
6. Roles and Responsibilities of Fiduciaries		43
6.1 Prevalence of Corporate Fiduciaries		43
6.2 Fiduciary Liabilities		43
6.3 Fiduciary Regulation		44
6.4 Fiduciary Investment		44
7. Citizenship and Residency		44
7.1 Requirements for Domicile, Residency and Citizenship		44
7.2 Expeditious Citizenship		45
8. Planning for Minors, Adults with Disabilities and Elders		45
8.1 Special Planning Mechanisms		45
8.2 Appointment of a Guardian		46
8.3 Elder Law		46
9. Planning for Non-Traditional Families		46
9.1 Children		46
9.2 Same-Sex Marriage		47
10. Charitable Planning		47
10.1 Charitable Giving		47
10.2 Common Charitable Structures		47
1. Tax		51
1.1 Tax Regimes		51
1.2 Exemptions		51
1.3 Income Tax Planning		51
1.4 Taxation of Real Estate Owned by Non-Residents		51
1.5 Stability of Tax Laws		52
1.6 Transparency and Increased Global Reporting		52
2. Succession		52
2.1 Cultural Considerations in Succession Planning		52
2.2 International Planning		52
2.3 Forced Heirship Laws		52
2.4 Marital Property		52
2.5 Transfer of Property		52
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		53
2.7 Transfer of Assets: Digital Assets		53
3. Trusts, Foundations and Similar Entities		53
3.1 Types of Trusts, Foundations or Similar Entities		53
3.2 Recognition of Trusts		53
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		53
3.4 Exercising Control Over Irrevocable Planning Vehicles		53
4. Family Business Planning		54
4.1 Asset Protection		54
4.2 Succession Planning		54
4.3 Transfer of Partial Interest		54
5. Wealth Disputes		54
5.1 Trends Driving Disputes		54
5.2 Mechanism for Compensation		55
6. Roles and Responsibilities of Fiduciaries		55
6.1 Prevalence of Corporate Fiduciaries		55
6.2 Fiduciary Liabilities		55
6.3 Fiduciary Regulation		55
6.4 Fiduciary Investment		55
7. Citizenship and Residency		56
7.1 Requirements for Domicile, Residency and Citizenship		56
7.2 Expeditious Citizenship		56
8. Planning for Minors, Adults with Disabilities and Elders		56
8.1 Special Planning Mechanisms		56
8.2 Appointment of a Guardian		56
8.3 Elder Law		56
9. Planning for Non-Traditional Families		56
9.1 Children		56
9.2 Same-Sex Marriage		57
10. Charitable Planning		57
10.1 Charitable Giving		57
10.2 Common Charitable Structures		57
1. Tax		64
1.1 Tax Regimes		64
1.2 Exemptions		65
1.3 Income Tax Planning		66
1.4 Taxation of Real Estate Owned by Non-Residents		67
1.5 Stability of Tax Laws		67
1.6 Transparency and Increased Global Reporting		67
2. Succession		67
2.1 Cultural Considerations in Succession Planning		67
2.2 International Planning		67
2.3 Forced Heirship Laws		68
2.4 Marital Property		68
2.5 Transfer of Property		68
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		69
2.7 Transfer of Assets: Digital Assets		69
3. Trusts, Foundations and Similar Entities		69
3.1 Types of Trusts, Foundations or Similar Entities		69
3.2 Recognition of Trusts		70
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		70
3.4 Exercising Control Over Irrevocable Planning Vehicles		70
4. Family Business Planning		70
4.1 Asset Protection		70
4.2 Succession Planning		71
4.3 Transfer of Partial Interest		71
5. Wealth Disputes		71
5.1 Trends Driving Disputes		71
5.2 Mechanism for Compensation		71
6. Roles and Responsibilities of Fiduciaries		71
6.1 Prevalence of Corporate Fiduciaries		71
6.2 Fiduciary Liabilities		71
6.3 Fiduciary Regulation		71
6.4 Fiduciary Investment		71
7. Citizenship and Residency		71
7.1 Requirements for Domicile, Residency and Citizenship		71
7.2 Expeditious Citizenship		72
8. Planning for Minors, Adults with Disabilities and Elders		72
8.1 Special Planning Mechanisms		72
8.2 Appointment of a Guardian		72
8.3 Elder Law		73
9. Planning for Non-Traditional Families		73
9.1 Children		73
9.2 Same-Sex Marriage		74
10. Charitable Planning		74
10.1 Charitable Giving		74
10.2 Common Charitable Structures		74
1. Tax		84
1.1 Tax Regimes		84
1.2 Exemptions		85
1.3 Income Tax Planning		85
1.4 Taxation of Real Estate Owned by Non-Residents		85
1.5 Stability of Tax Laws		86
1.6 Transparency and Increased Global Reporting		86
2. Succession		87
2.1 Cultural Considerations in Succession Planning		87
2.2 International Planning		87
2.3 Forced Heirship Laws		87
2.4 Marital Property		88
2.5 Transfer of Property		88
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		88
2.7 Transfer of Assets: Digital Assets		88
3. Trusts, Foundations and Similar Entities		89
3.1 Types of Trusts, Foundations or Similar Entities		89
3.2 Recognition of Trusts		89
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		89
3.4 Exercising Control Over Irrevocable Planning Vehicles		89
4. Family Business Planning		90
4.1 Asset Protection		90
4.2 Succession Planning		90
4.3 Transfer of Partial Interest		91
5. Wealth Disputes		91
5.1 Trends Driving Disputes		91
5.2 Mechanism for Compensation		91
6. Roles and Responsibilities of Fiduciaries		92
6.1 Prevalence of Corporate Fiduciaries		92
6.2 Fiduciary Liabilities		92
6.3 Fiduciary Regulation		92
6.4 Fiduciary Investment		92
7. Citizenship and Residency		93
7.1 Requirements for Domicile, Residency and Citizenship		93
7.2 Expeditious Citizenship		93
8. Planning for Minors, Adults with Disabilities and Elders		94
8.1 Special Planning Mechanisms		94
8.2 Appointment of a Guardian		95
8.3 Elder Law		95
9. Planning for Non-Traditional Families		96
9.1 Children		96
9.2 Same-Sex Marriage		96
10. Charitable Planning		96
10.1 Charitable Giving		96
10.2 Common Charitable Structures		96
1. Tax		106
1.1 Tax Regimes		106
1.2 Exemptions		107
1.3 Income Tax Planning		107
1.4 Taxation of Real Estate Owned by Non-Residents		107
1.5 Stability of Tax Laws		108
1.6 Transparency and Increased Global Reporting		108
2. Succession		108
2.1 Cultural Considerations in Succession Planning		108
2.2 International Planning		109
2.3 Forced Heirship Laws		110
2.4 Marital Property		110
2.5 Transfer of Property		111
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		111
2.7 Transfer of Assets: Digital Assets		111
3. Trusts, Foundations and Similar Entities		112
3.1 Types of Trusts, Foundations or Similar Entities		112
3.2 Recognition of Trusts		112
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		113
3.4 Exercising Control Over Irrevocable Planning Vehicles		113
4. Family Business Planning		113
4.1 Asset Protection		113
4.2 Succession Planning		114
4.3 Transfer of Partial Interest		114
5. Wealth Disputes		114
5.1 Trends Driving Disputes		114
5.2 Mechanism for Compensation		114
6. Roles and Responsibilities of Fiduciaries		115
6.1 Prevalence of Corporate Fiduciaries		115
6.2 Fiduciary Liabilities		115
6.3 Fiduciary Regulation		115
6.4 Fiduciary Investment		115
7. Citizenship and Residency		116
7.1 Requirements for Domicile, Residency and Citizenship		116
7.2 Expeditious Citizenship		116
8. Planning for Minors, Adults with Disabilities and Elders		116
8.1 Special Planning Mechanisms		116
8.2 Appointment of a Guardian		117
8.3 Elder Law		117
9. Planning for Non-Traditional Families		118
9.1 Children		118
9.2 Same-Sex Marriage		119
10. Charitable Planning		119
10.1 Charitable Giving		119
10.2 Common Charitable Structures		120
1. Tax		130
1.1 Tax Regimes		130
1.2 Exemptions		134
1.3 Income Tax Planning		134
1.4 Taxation of Real Estate Owned by Non-Residents		134
1.5 Stability of Tax Laws		135
1.6 Transparency and Increased Global Reporting		135
2. Succession		136
2.1 Cultural Considerations in Succession Planning		136
2.2 International Planning		136
2.3 Forced Heirship Laws		137
2.4 Marital Property		137
2.5 Transfer of Property		138
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		138
2.7 Transfer of Assets: Digital Assets		138
3. Trusts, Foundations and Similar Entities		138
3.1 Types of Trusts, Foundations or Similar Entities		138
3.2 Recognition of Trusts		139
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		139
3.4 Exercising Control Over Irrevocable Planning Vehicles		140
4. Family Business Planning		140
4.1 Asset Protection		140
4.2 Succession Planning		140
4.3 Transfer of Partial Interest		141
5. Wealth Disputes		141
5.1 Trends Driving Disputes		141
5.2 Mechanism for Compensation		142
6. Roles and Responsibilities of Fiduciaries		142
6.1 Prevalence of Corporate Fiduciaries		142
6.2 Fiduciary Liabilities		143
6.3 Fiduciary Regulation		143
6.4 Fiduciary Investment		143
7. Citizenship and Residency		143
7.1 Requirements for Domicile, Residency and Citizenship		143
7.2 Expeditious Citizenship		144
8. Planning for Minors, Adults with Disabilities and Elders		144
8.1 Special Planning Mechanisms		144
8.2 Appointment of a Guardian		144
8.3 Elder Law		144
9. Planning for Non-Traditional Families		145
9.1 Children		145
9.2 Same-Sex Marriage		145
10. Charitable Planning		145
10.1 Charitable Giving		145
10.2 Common Charitable Structures		146
1. Tax		154
1.1 Tax Regimes		154
1.2 Exemptions		154
1.3 Income Tax Planning		155
1.4 Taxation of Real Estate Owned by Non-Residents		155
1.5 Stability of Tax Laws		156
1.6 Transparency and Increased Global Reporting		156
2. Succession		156
2.1 Cultural Considerations in Succession Planning		156
2.2 International Planning		156
2.3 Forced Heirship Laws		157
2.4 Marital Property		158
2.5 Transfer of Property		158
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		159
2.7 Transfer of Assets: Digital Assets		159
3. Trusts, Foundations and Similar Entities		160
3.1 Types of Trusts, Foundations or Similar Entities		160
3.2 Recognition of Trusts		161
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		161
3.4 Exercising Control Over Irrevocable Planning Vehicles		162
4. Family Business Planning		162
4.1 Asset Protection		162
4.2 Succession Planning		163
4.3 Transfer of Partial Interest		163
5. Wealth Disputes		164
5.1 Trends Driving Disputes		164
5.2 Mechanism for Compensation		164
6. Roles and Responsibilities of Fiduciaries		165
6.1 Prevalence of Corporate Fiduciaries		165
6.2 Fiduciary Liabilities		165
6.3 Fiduciary Regulation		165
6.4 Fiduciary Investment		166
7. Citizenship and Residency		166
7.1 Requirements for Domicile, Residency and Citizenship		166
7.2 Expeditious Citizenship		166
8. Planning for Minors, Adults with Disabilities and Elders		167
8.1 Special Planning Mechanisms		167
8.2 Appointment of a Guardian		167
8.3 Elder Law		167
9. Planning for Non-Traditional Families		168
9.1 Children		168
9.2 Same-Sex Marriage		168
10. Charitable Planning		169
10.1 Charitable Giving		169
10.2 Common Charitable Structures		170
1. Tax		173
1.1 Tax Regimes		173
1.2 Exemptions		176
1.3 Income Tax Planning		177
1.4 Taxation of Real Estate Owned by Non-Residents		177
1.5 Stability of Tax Laws		178
1.6 Transparency and Increased Global Reporting		178
2. Succession		178
2.1 Cultural Considerations in Succession Planning		178
2.2 International Planning		178
2.3 Forced Heirship Laws		178
2.4 Marital Property		179
2.5 Transfer of Property		179
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		179
2.7 Transfer of Assets: Digital Assets		179
3. Trusts, Foundations and Similar Entities		180
3.1 Types of Trusts, Foundations or Similar Entities		180
3.2 Recognition of Trusts		180
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		180
3.4 Exercising Control Over Irrevocable Planning Vehicles		184
4. Family Business Planning		184
4.1 Asset Protection		184
4.2 Succession Planning		184
4.3 Transfer of Partial Interest		184
5. Wealth Disputes		185
5.1 Trends Driving Disputes		185
5.2 Mechanism for Compensation		185
6. Roles and Responsibilities of Fiduciaries		185
6.1 Prevalence of Corporate Fiduciaries		185
6.2 Fiduciary Liabilities		185
6.3 Fiduciary Regulation		185
6.4 Fiduciary Investment		185
7. Citizenship and Residency		185
7.1 Requirements for Domicile, Residency and Citizenship		185
7.2 Expeditious Citizenship		185
8. Planning for Minors, Adults with Disabilities and Elders		186
8.1 Special Planning Mechanisms		186
8.2 Appointment of a Guardian		186
8.3 Elder Law		186
9. Planning for Non-Traditional Families		186
9.1 Children		186
9.2 Same-Sex Marriage		186
10. Charitable Planning		186
10.1 Charitable Giving		186
10.2 Common Charitable Structures		187
1. Tax		196
1.1 Tax Regimes		196
1.2 Exemptions		200
1.3 Income Tax Planning		200
1.4 Taxation of Real Estate Owned by Non-Residents		200
1.5 Stability of Tax Laws		200
1.6 Transparency and Increased Global Reporting		201
2. Succession		204
2.1 Cultural Considerations in Succession Planning		204
2.2 International Planning		204
2.3 Forced Heirship Laws		204
2.4 Marital Property		205
2.5 Transfer of Property		205
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		205
2.7 Transfer of Assets: Digital Assets		205
3. Trusts, Foundations and Similar Entities		206
3.1 Types of Trusts, Foundations or Similar Entities		206
3.2 Recognition of Trusts		206
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		206
3.4 Exercising Control Over Irrevocable Planning Vehicles		207
4. Family Business Planning		207
4.1 Asset Protection		207
4.2 Succession Planning		208
4.3 Transfer of Partial Interest		209
5. Wealth Disputes		209
5.1 Trends Driving Disputes		209
5.2 Mechanism for Compensation		209
6. Roles and Responsibilities of Fiduciaries		209
6.1 Prevalence of Corporate Fiduciaries		209
6.2 Fiduciary Liabilities		210
6.3 Fiduciary Regulation		210
6.4 Fiduciary Investment		210
7. Citizenship and Residency		210
7.1 Requirements for Domicile, Residency and Citizenship		210
7.2 Expeditious Citizenship		210
8. Planning for Minors, Adults with Disabilities and Elders		211
8.1 Special Planning Mechanisms		211
8.2 Appointment of a Guardian		211
8.3 Elder Law		211
9. Planning for Non-Traditional Families		212
9.1 Children		212
9.2 Same-Sex Marriage		213
10. Charitable Planning		213
10.1 Charitable Giving		213
10.2 Common Charitable Structures		214
1. Tax		225
1.1 Tax Regimes		225
1.2 Exemptions		227
1.3 Income Tax Planning		227
1.4 Taxation of Real Estate Owned by Non-Residents		228
1.5 Stability of Tax Laws		228
1.6 Transparency and Increased Global Reporting		228
2. Succession		230
2.1 Cultural Considerations in Succession Planning		230
2.2 International Planning		230
2.3 Forced Heirship Laws		231
2.4 Marital Property		231
2.5 Transfer of Property		232
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		232
2.7 Transfer of Assets: Digital Assets		232
3. Trusts, Foundations and Similar Entities		232
3.1 Types of Trusts, Foundations or Similar Entities		232
3.2 Recognition of Trusts		233
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		233
3.4 Exercising Control Over Irrevocable Planning Vehicles		233
4. Family Business Planning		233
4.1 Asset Protection		233
4.2 Succession Planning		233
4.3 Transfer of Partial Interest		233
5. Wealth Disputes		233
5.1 Trends Driving Disputes		233
5.2 Mechanism for Compensation		234
6. Roles and Responsibilities of Fiduciaries		234
6.1 Prevalence of Corporate Fiduciaries		234
6.2 Fiduciary Liabilities		234
6.3 Fiduciary Regulation		234
6.4 Fiduciary Investment		235
7. Citizenship and Residency		235
7.1 Requirements for Domicile, Residency and Citizenship		235
7.2 Expeditious Citizenship		236
8. Planning for Minors, Adults with Disabilities and Elders		236
8.1 Special Planning Mechanisms		236
8.2 Appointment of a Guardian		237
8.3 Elder Law		238
9. Planning for Non-Traditional Families		238
9.1 Children		238
9.2 Same-Sex Marriage		239
10. Charitable Planning		239
10.1 Charitable Giving		239
10.2 Common Charitable Structures		240
1. Tax		248
1.1 Tax Regimes		248
1.2 Exemptions		249
1.3 Income Tax Planning		250
1.4 Taxation of Real Estate Owned by Non-Residents		250
1.5 Stability of Tax Laws		250
1.6 Transparency and Increased Global Reporting		251
2. Succession		251
2.1 Cultural Considerations in Succession Planning		251
2.2 International Planning		252
2.3 Forced Heirship Laws		253
2.4 Marital Property		253
2.5 Transfer of Property		254
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		254
2.7 Transfer of Assets: Digital Assets		255
3. Trusts, Foundations and Similar Entities		255
3.1 Types of Trusts, Foundations or Similar Entities		255
3.2 Recognition of Trusts		255
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		256
3.4 Exercising Control Over Irrevocable Planning Vehicles		256
4. Family Business Planning		256
4.1 Asset Protection		256
4.2 Succession Planning		257
4.3 Transfer of Partial Interest		257
5. Wealth Disputes		257
5.1 Trends Driving Disputes		257
5.2 Mechanism for Compensation		258
6. Roles and Responsibilities of Fiduciaries		258
6.1 Prevalence of Corporate Fiduciaries		258
6.2 Fiduciary Liabilities		258
6.3 Fiduciary Regulation		258
6.4 Fiduciary Investment		258
7. Citizenship and Residency		258
7.1 Requirements for Domicile, Residency and Citizenship		258
7.2 Expeditious Citizenship		259
8. Planning for Minors, Adults with Disabilities and Elders		259
8.1 Special Planning Mechanisms		259
8.2 Appointment of a Guardian		259
8.3 Elder Law		260
9. Planning for Non-Traditional Families		260
9.1 Children		260
9.2 Same-Sex Marriage		261
10. Charitable Planning		261
10.1 Charitable Giving		261
10.2 Common Charitable Structures		262
1. Tax		273
1.1 Tax Regimes		273
1.2 Exemptions		275
1.3 Income Tax Planning		276
1.4 Taxation of Real Estate Owned by Non-Residents		276
1.5 Stability of Tax Laws		276
1.6 Transparency and Increased Global Reporting		277
2. Succession		277
2.1 Cultural Considerations in Succession Planning		277
2.2 International Planning		278
2.3 Forced Heirship Laws		278
2.4 Marital Property		279
2.5 Transfer of Property		280
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		280
2.7 Transfer of Assets: Digital Assets		280
3. Trusts, Foundations and Similar Entities		280
3.1 Types of Trusts, Foundations or Similar Entities		280
3.2 Recognition of Trusts		281
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		281
3.4 Exercising Control Over Irrevocable Planning Vehicles		281
4. Family Business Planning		281
4.1 Asset Protection		281
4.2 Succession Planning		281
4.3 Transfer of Partial Interest		282
5. Wealth Disputes		282
5.1 Trends Driving Disputes		282
5.2 Mechanism for Compensation		282
6. Roles and Responsibilities of Fiduciaries		283
6.1 Prevalence of Corporate Fiduciaries		283
6.2 Fiduciary Liabilities		283
6.3 Fiduciary Regulation		283
6.4 Fiduciary Investment		283
7. Citizenship and Residency		284
7.1 Requirements for Domicile, Residency and Citizenship		284
7.2 Expeditious Citizenship		284
8. Planning for Minors, Adults with Disabilities and Elders		284
8.1 Special Planning Mechanisms		284
8.2 Appointment of a Guardian		284
8.3 Elder Law		285
9. Planning for Non-Traditional Families		285
9.1 Children		285
9.2 Same-Sex Marriage		286
10. Charitable Planning		286
10.1 Charitable Giving		286
10.2 Common Charitable Structures		286
1. Tax		290
1.1 Tax Regimes		290
1.2 Exemptions		295
1.3 Income Tax Planning		295
1.4 Taxation of Real Estate Owned by Non-Residents		296
1.5 Stability of Tax Laws		297
1.6 Transparency and Increased Global Reporting		297
2. Succession		297
2.1 Cultural Considerations in Succession Planning		297
2.2 International Planning		298
2.3 Forced Heirship Laws		298
2.4 Marital Property		299
2.5 Transfer of Property		299
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		300
2.7 Transfer of Assets: Digital Assets		300
3. Trusts, Foundations and Similar Entities		301
3.1 Types of Trusts, Foundations or Similar Entities		301
3.2 Recognition of Trusts		301
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		302
3.4 Exercising Control Over Irrevocable Planning Vehicles		302
4. Family Business Planning		302
4.1 Asset Protection		302
4.2 Succession Planning		303
4.3 Transfer of Partial Interest		303
5. Wealth Disputes		304
5.1 Trends Driving Disputes		304
5.2 Mechanism for Compensation		304
6. Roles and Responsibilities of Fiduciaries		304
6.1 Prevalence of Corporate Fiduciaries		304
6.2 Fiduciary Liabilities		305
6.3 Fiduciary Regulation		305
6.4 Fiduciary Investment		305
7. Citizenship and Residency		306
7.1 Requirements for Domicile, Residency and Citizenship		306
7.2 Expeditious Citizenship		307
8. Planning for Minors, Adults with Disabilities and Elders		307
8.1 Special Planning Mechanisms		307
8.2 Appointment of a Guardian		307
8.3 Elder Law		308
9. Planning for Non-Traditional Families		308
9.1 Children		308
9.2 Same-Sex Marriage		308
10. Charitable Planning		309
10.1 Charitable Giving		309
10.2 Common Charitable Structures		309
1. Tax		318
1.1 Tax Regimes		318
1.2 Exemptions		319
1.3 Income Tax Planning		319
1.4 Taxation of Real Estate Owned by Non-Residents		319
1.5 Stability of Tax Laws		319
1.6 Transparency and Increased Global Reporting		319
2. Succession		319
2.1 Cultural Considerations in Succession Planning		319
2.2 International Planning		320
2.3 Forced Heirship Laws		320
2.4 Marital Property		320
2.5 Transfer of Property		321
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		321
2.7 Transfer of Assets: Digital Assets		321
3. Trusts, Foundations and Similar Entities		321
3.1 Types of Trusts, Foundations or Similar Entities		321
3.2 Recognition of Trusts		321
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		321
3.4 Exercising Control Over Irrevocable Planning Vehicles		322
4. Family Business Planning		322
4.1 Asset Protection		322
4.2 Succession Planning		322
4.3 Transfer of Partial Interest		322
5. Wealth Disputes		322
5.1 Trends Driving Disputes		322
5.2 Mechanism for Compensation		323
6. Roles and Responsibilities of Fiduciaries		323
6.1 Prevalence of Corporate Fiduciaries		323
6.2 Fiduciary Liabilities		323
6.3 Fiduciary Regulation		323
6.4 Fiduciary Investment		323
7. Citizenship and Residency		323
7.1 Requirements for Domicile, Residency and Citizenship		323
7.2 Expeditious Citizenship		324
8. Planning for Minors, Adults with Disabilities and Elders		324
8.1 Special Planning Mechanisms		324
8.2 Appointment of a Guardian		324
8.3 Elder Law		324
9. Planning for Non-Traditional Families		324
9.1 Children		324
9.2 Same-Sex Marriage		324
10. Charitable Planning		324
10.1 Charitable Giving		324
10.2 Common Charitable Structures		324
1. Tax		327
1.1 Tax Regimes		327
1.2 Exemptions		329
1.3 Income Tax Planning		329
1.4 Taxation of Real Estate Owned by Non-Residents		329
1.5 Stability of Tax Laws		330
1.6 Transparency and Increased Global Reporting		330
2. Succession		331
2.1 Cultural Considerations in Succession Planning		331
2.2 International Planning		332
2.3 Forced Heirship Laws		333
2.4 Marital Property		333
2.5 Transfer of Property		334
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		335
2.7 Transfer of Assets: Digital Assets		335
3. Trusts, Foundations and Similar Entities		335
3.1 Types of Trusts, Foundations or Similar Entities		335
3.2 Recognition of Trusts		336
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		337
3.4 Exercising Control Over Irrevocable Planning Vehicles		337
4. Family Business Planning		337
4.1 Asset Protection		337
4.2 Succession Planning		342
4.3 Transfer of Partial Interest		342
5. Wealth Disputes		342
5.1 Trends Driving Disputes		342
5.2 Mechanism for Compensation		342
6. Roles and Responsibilities of Fiduciaries		343
6.1 Prevalence of Corporate Fiduciaries		343
6.2 Fiduciary Liabilities		343
6.3 Fiduciary Regulation		343
6.4 Fiduciary Investment		344
7. Citizenship and Residency		344
7.1 Requirements for Domicile, Residency and Citizenship		344
7.2 Expeditious Citizenship		345
8. Planning for Minors, Adults with Disabilities and Elders		346
8.1 Special Planning Mechanisms		346
8.2 Appointment of a Guardian		346
8.3 Elder Law		346
9. Planning for Non-Traditional Families		347
9.1 Children		347
9.2 Same-Sex Marriage		347
10. Charitable Planning		348
10.1 Charitable Giving		348
10.2 Common Charitable Structures		348
1. Tax		357
1.1 Tax Regimes		357
1.2 Exemptions		360
1.3 Income Tax Planning		360
1.4 Taxation of Real Estate Owned by Non-Residents		361
1.5 Stability of Tax Laws		361
1.6 Transparency and Increased Global Reporting		361
2. Succession		361
2.1 Cultural Considerations in Succession Planning		361
2.2 International Planning		361
2.3 Forced Heirship Laws		362
2.4 Marital Property		362
2.5 Transfer of Property		364
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		364
2.7 Transfer of Assets: Digital Assets		364
3. Trusts, Foundations and Similar Entities		365
3.1 Types of Trusts, Foundations or Similar Entities		365
3.2 Recognition of Trusts		365
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		366
3.4 Exercising Control Over Irrevocable Planning Vehicles		366
4. Family Business Planning		366
4.1 Asset Protection		366
4.2 Succession Planning		366
4.3 Transfer of Partial Interest		367
5. Wealth Disputes		367
5.1 Trends Driving Disputes		367
5.2 Mechanism for Compensation		367
6. Roles and Responsibilities of Fiduciaries		367
6.1 Prevalence of Corporate Fiduciaries		367
6.2 Fiduciary Liabilities		368
6.3 Fiduciary Regulation		368
6.4 Fiduciary Investment		368
7. Citizenship and Residency		368
7.1 Requirements for Domicile, Residency and Citizenship		368
7.2 Expeditious Citizenship		370
8. Planning for Minors, Adults with Disabilities and Elders		370
8.1 Special Planning Mechanisms		370
8.2 Appointment of a Guardian		370
8.3 Elder Law		370
9. Planning for Non-Traditional Families		370
9.1 Children		370
9.2 Same-Sex Marriage		371
10. Charitable Planning		371
10.1 Charitable Giving		371
10.2 Common Charitable Structures		371
1. Tax		374
1.1 Tax Regimes		374
1.2 Exemptions		375
1.3 Income Tax Planning		375
1.4 Taxation of Real Estate Owned by Non-Residents		375
1.5 Stability of Tax Laws		376
1.6 Transparency and Increased Global Reporting		376
2. Succession		376
2.1 Cultural Considerations in Succession Planning		376
2.2 International Planning		377
2.3 Forced Heirship Laws		377
2.4 Marital Property		378
2.5 Transfer of Property		378
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		378
2.7 Transfer of Assets: Digital Assets		379
3. Trusts, Foundations and Similar Entities		379
3.1 Types of Trusts, Foundations or Similar Entities		379
3.2 Recognition of Trusts		380
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		380
3.4 Exercising Control Over Irrevocable Planning Vehicles		380
4. Family Business Planning		380
4.1 Asset Protection		380
4.2 Succession Planning		381
4.3 Transfer of Partial Interest		381
5. Wealth Disputes		381
5.1 Trends Driving Disputes		381
5.2 Mechanism for Compensation		382
6. Roles and Responsibilities of Fiduciaries		382
6.1 Prevalence of Corporate Fiduciaries		382
6.2 Fiduciary Liabilities		382
6.3 Fiduciary Regulation		383
6.4 Fiduciary Investment		383
7. Citizenship and Residency		383
7.1 Requirements for Domicile, Residency and Citizenship		383
7.2 Expeditious Citizenship		384
8. Planning for Minors, Adults with Disabilities and Elders		385
8.1 Special Planning Mechanisms		385
8.2 Appointment of a Guardian		385
8.3 Elder Law		385
9. Planning for Non-Traditional Families		386
9.1 Children		386
9.2 Same-Sex Marriage		387
10. Charitable Planning		387
10.1 Charitable Giving		387
10.2 Common Charitable Structures		387
1. Tax		398
1.1 Tax Regimes		398
1.2 Exemptions		402
1.3 Income Tax Planning		402
1.4 Taxation of Real Estate Owned by Non-Residents		402
1.5 Stability of Tax Laws		402
1.6 Transparency and Increased Global Reporting		403
2. Succession		404
2.1 Cultural Considerations in Succession Planning		404
2.2 International Planning		404
2.3 Forced Heirship Laws		404
2.4 Marital Property		405
2.5 Transfer of Property		405
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		405
2.7 Transfer of Assets: Digital Assets		405
3. Trusts, Foundations and Similar Entities		406
3.1 Types of Trusts, Foundations or Similar Entities		406
3.2 Recognition of Trusts		406
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		406
3.4 Exercising Control Over Irrevocable Planning Vehicles		406
4. Family Business Planning		407
4.1 Asset Protection		407
4.2 Succession Planning		407
4.3 Transfer of Partial Interest		407
5. Wealth Disputes		407
5.1 Trends Driving Disputes		407
5.2 Mechanism for Compensation		407
6. Roles and Responsibilities of Fiduciaries		408
6.1 Prevalence of Corporate Fiduciaries		408
6.2 Fiduciary Liabilities		408
6.3 Fiduciary Regulation		408
6.4 Fiduciary Investment		408
7. Citizenship and Residency		408
7.1 Requirements for Domicile, Residency and Citizenship		408
7.2 Expeditious Citizenship		408
8. Planning for Minors, Adults with Disabilities and Elders		408
8.1 Special Planning Mechanisms		408
8.2 Appointment of a Guardian		408
8.3 Elder Law		409
9. Planning for Non-Traditional Families		409
9.1 Children		409
9.2 Same-Sex Marriage		409
10. Charitable Planning		409
10.1 Charitable Giving		409
10.2 Common Charitable Structures		409
1. Tax		418
1.1 Tax Regimes		418
1.2 Exemptions		418
1.3 Income Tax Planning		418
1.4 Taxation of Real Estate Owned by Non-Residents		418
1.5 Stability of Tax Laws		418
1.6 Transparency and Increased Global Reporting		419
2. Succession		419
2.1 Cultural Considerations in Succession Planning		419
2.2 International Planning		419
2.3 Forced Heirship Laws		420
2.4 Marital Property		420
2.5 Transfer of Property		421
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		421
2.7 Transfer of Assets: Digital Assets		421
3. Trusts, Foundations and Similar Entities		421
3.1 Types of Trusts, Foundations or Similar Entities		421
3.2 Recognition of Trusts		422
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		422
3.4 Exercising Control Over Irrevocable Planning Vehicles		423
4. Family Business Planning		423
4.1 Asset Protection		423
4.2 Succession Planning		423
4.3 Transfer of Partial Interest		424
5. Wealth Disputes		424
5.1 Trends Driving Disputes		424
5.2 Mechanism for Compensation		425
6. Roles and Responsibilities of Fiduciaries		426
6.1 Prevalence of Corporate Fiduciaries		426
6.2 Fiduciary Liabilities		426
6.3 Fiduciary Regulation		426
6.4 Fiduciary Investment		427
7. Citizenship and Residency		427
7.1 Requirements for Domicile, Residency and Citizenship		427
7.2 Expeditious Citizenship		427
8. Planning for Minors, Adults with Disabilities and Elders		427
8.1 Special Planning Mechanisms		427
8.2 Appointment of a Guardian		428
8.3 Elder Law		428
9. Planning for Non-Traditional Families		428
9.1 Children		428
9.2 Same-Sex Marriage		429
10. Charitable Planning		429
10.1 Charitable Giving		429
10.2 Common Charitable Structures		429
1. Tax		438
1.1 Tax Regimes		438
1.2 Exemptions		438
1.3 Income Tax Planning		438
1.4 Taxation of Real Estate Owned by Non-Residents		439
1.5 Stability of Tax Laws		439
1.6 Transparency and Increased Global Reporting		439
2. Succession		440
2.1 Cultural Considerations in Succession Planning		440
2.2 International Planning		440
2.3 Forced Heirship Laws		440
2.4 Marital Property		441
2.5 Transfer of Property		442
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		442
2.7 Transfer of Assets: Digital Assets		442
3. Trusts, Foundations and Similar Entities		442
3.1 Types of Trusts, Foundations or Similar Entities		442
3.2 Recognition of Trusts		443
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		443
3.4 Exercising Control Over Irrevocable Planning Vehicles		443
4. Family Business Planning		443
4.1 Asset Protection		443
4.2 Succession Planning		444
4.3 Transfer of Partial Interest		444
5. Wealth Disputes		445
5.1 Trends Driving Disputes		445
5.2 Mechanism for Compensation		445
6. Roles and Responsibilities of Fiduciaries		445
6.1 Prevalence of Corporate Fiduciaries		445
6.2 Fiduciary Liabilities		446
6.3 Fiduciary Regulation		446
6.4 Fiduciary Investment		446
7. Citizenship and Residency		446
7.1 Requirements for Domicile, Residency and Citizenship		446
7.2 Expeditious Citizenship		447
8. Planning for Minors, Adults with Disabilities and Elders		447
8.1 Special Planning Mechanisms		447
8.2 Appointment of a Guardian		447
8.3 Elder Law		448
9. Planning for Non-Traditional Families		448
9.1 Children		448
9.2 Same-Sex Marriage		448
10. Charitable Planning		448
10.1 Charitable Giving		448
10.2 Common Charitable Structures		448
1. Tax		459
1.1 Tax Regimes		459
1.2 Exemptions		459
1.3 Income Tax Planning		459
1.4 Taxation of Real Estate Owned by Non-Residents		460
1.5 Stability of Tax Laws		460
1.6 Transparency and Increased Global Reporting		460
2. Succession		460
2.1 Cultural Considerations in Succession Planning		460
2.2 International Planning		461
2.3 Forced Heirship Laws		461
2.4 Marital Property		461
2.5 Transfer of Property		462
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		462
2.7 Transfer of Assets: Digital Assets		462
3. Trusts, Foundations and Similar Entities		462
3.1 Types of Trusts, Foundations or Similar Entities		462
3.2 Recognition of Trusts		462
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		463
3.4 Exercising Control Over Irrevocable Planning Vehicles		463
4. Family Business Planning		463
4.1 Asset Protection		463
4.2 Succession Planning		464
4.3 Transfer of Partial Interest		464
5. Wealth Disputes		464
5.1 Trends Driving Disputes		464
5.2 Mechanism for Compensation		465
6. Roles and Responsibilities of Fiduciaries		465
6.1 Prevalence of Corporate Fiduciaries		465
6.2 Fiduciary Liabilities		465
6.3 Fiduciary Regulation		465
6.4 Fiduciary Investment		466
7. Citizenship and Residency		466
7.1 Requirements for Domicile, Residency and Citizenship		466
7.2 Expeditious Citizenship		466
8. Planning for Minors, Adults with Disabilities and Elders		467
8.1 Special Planning Mechanisms		467
8.2 Appointment of a Guardian		467
8.3 Elder Law		467
9. Planning for Non-Traditional Families		468
9.1 Children		468
9.2 Same-Sex Marriage		468
10. Charitable Planning		468
10.1 Charitable Giving		468
10.2 Common Charitable Structures		469
1. Tax		479
1.1 Tax Regimes		479
1.2 Exemptions		480
1.3 Income Tax Planning		480
1.4 Taxation of Real Estate Owned by Non-Residents		480
1.5 Stability of Tax Laws		481
1.6 Transparency and Increased Global Reporting		481
2. Succession		481
2.1 Cultural Considerations in Succession Planning		481
2.2 International Planning		482
2.3 Forced Heirship Laws		482
2.4 Marital Property		482
2.5 Transfer of Property		482
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		482
2.7 Transfer of Assets: Digital Assets		482
3. Trusts, Foundations and Similar Entities		483
3.1 Types of Trusts, Foundations or Similar Entities		483
3.2 Recognition of Trusts		483
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		483
3.4 Exercising Control Over Irrevocable Planning Vehicles		483
4. Family Business Planning		483
4.1 Asset Protection		483
4.2 Succession Planning		483
4.3 Transfer of Partial Interest		483
5. Wealth Disputes		484
5.1 Trends Driving Disputes		484
5.2 Mechanism for Compensation		484
6. Roles and Responsibilities of Fiduciaries		484
6.1 Prevalence of Corporate Fiduciaries		484
6.2 Fiduciary Liabilities		484
6.3 Fiduciary Regulation		484
6.4 Fiduciary Investment		484
7. Citizenship and Residency		484
7.1 Requirements for Domicile, Residency and Citizenship		484
7.2 Expeditious Citizenship		485
8. Planning for Minors, Adults with Disabilities and Elders		485
8.1 Special Planning Mechanisms		485
8.2 Appointment of a Guardian		485
8.3 Elder Law		485
9. Planning for Non-Traditional Families		486
9.1 Children		486
9.2 Same-Sex Marriage		486
10. Charitable Planning		486
10.1 Charitable Giving		486
10.2 Common Charitable Structures		486
1. Tax		494
1.1 Tax Regimes		494
1.2 Exemptions		496
1.3 Income Tax Planning		496
1.4 Taxation of Real Estate Owned by Non-Residents		496
1.5 Stability of Tax Laws		496
1.6 Transparency and Increased Global Reporting		496
2. Succession		497
2.1 Cultural Considerations in Succession Planning		497
2.2 International Planning		497
2.3 Forced Heirship Laws		497
2.4 Marital Property		498
2.5 Transfer of Property		500
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		500
2.7 Transfer of Assets: Digital Assets		501
3. Trusts, Foundations and Similar Entities		501
3.1 Types of Trusts, Foundations or Similar Entities		501
3.2 Recognition of Trusts		502
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		502
3.4 Exercising Control Over Irrevocable Planning Vehicles		502
4. Family Business Planning		503
4.1 Asset Protection		503
4.2 Succession Planning		503
4.3 Transfer of Partial Interest		504
5. Wealth Disputes		504
5.1 Trends Driving Disputes		504
5.2 Mechanism for Compensation		505
6. Roles and Responsibilities of Fiduciaries		505
6.1 Prevalence of Corporate Fiduciaries		505
6.2 Fiduciary Liabilities		506
6.3 Fiduciary Regulation		507
6.4 Fiduciary Investment		507
7. Citizenship and Residency		507
7.1 Requirements for Domicile, Residency and Citizenship		507
7.2 Expeditious Citizenship		508
8. Planning for Minors, Adults with Disabilities and Elders		508
8.1 Special Planning Mechanisms		508
8.2 Appointment of a Guardian		509
8.3 Elder Law		509
9. Planning for Non-Traditional Families		509
9.1 Children		509
9.2 Same-Sex Marriage		510
10. Charitable Planning		510
10.1 Charitable Giving		510
10.2 Common Charitable Structures		511
1. Tax		520
1.1 Tax Regimes		520
1.2 Exemptions		521
1.3 Income Tax Planning		522
1.4 Taxation of Real Estate Owned by Non-Residents		523
1.5 Stability of Tax Laws		523
1.6 Transparency and Increased Global Reporting		523
2. Succession		524
2.1 Cultural Considerations in Succession Planning		524
2.2 International Planning		525
2.3 Forced Heirship Laws		525
2.4 Marital Property		525
2.5 Transfer of Property		525
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		525
2.7 Transfer of Assets: Digital Assets		526
3. Trusts, Foundations and Similar Entities		526
3.1 Types of Trusts, Foundations or Similar Entities		526
3.2 Recognition of Trusts		526
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		526
3.4 Exercising Control Over Irrevocable Planning Vehicles		527
4. Family Business Planning		527
4.1 Asset Protection		527
4.2 Succession Planning		527
4.3 Transfer of Partial Interest		527
5. Wealth Disputes		527
5.1 Trends Driving Disputes		527
5.2 Mechanism for Compensation		527
6. Roles and Responsibilities of Fiduciaries		528
6.1 Prevalence of Corporate Fiduciaries		528
6.2 Fiduciary Liabilities		528
6.3 Fiduciary Regulation		528
6.4 Fiduciary Investment		528
7. Citizenship and Residency		528
7.1 Requirements for Domicile, Residency and Citizenship		528
7.2 Expeditious Citizenship		528
8. Planning for Minors, Adults with Disabilities and Elders		528
8.1 Special Planning Mechanisms		528
8.2 Appointment of a Guardian		529
8.3 Elder Law		529
9. Planning for Non-Traditional Families		529
9.1 Children		529
9.2 Same-Sex Marriage		529
10. Charitable Planning		529
10.1 Charitable Giving		529
10.2 Common Charitable Structures		529
1. Tax		532
1.1 Tax Regimes		532
1.2 Exemptions		533
1.3 Income Tax Planning		533
1.4 Taxation of Real Estate Owned by Non-Residents		534
1.5 Stability of Tax Laws		534
1.6 Transparency and Increased Global Reporting		534
2. Succession		535
2.1 Cultural Considerations in Succession Planning		535
2.2 International Planning		535
2.3 Forced Heirship Laws		535
2.4 Marital Property		536
2.5 Transfer of Property		537
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		537
2.7 Transfer of Assets: Digital Assets		537
3. Trusts, Foundations and Similar Entities		537
3.1 Types of Trusts, Foundations or Similar Entities		537
3.2 Recognition of Trusts		538
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		538
3.4 Exercising Control Over Irrevocable Planning Vehicles		539
4. Family Business Planning		539
4.1 Asset Protection		539
4.2 Succession Planning		539
4.3 Transfer of Partial Interest		540
5. Wealth Disputes		540
5.1 Trends Driving Disputes		540
5.2 Mechanism for Compensation		540
6. Roles and Responsibilities of Fiduciaries		541
6.1 Prevalence of Corporate Fiduciaries		541
6.2 Fiduciary Liabilities		541
6.3 Fiduciary Regulation		541
6.4 Fiduciary Investment		541
7. Citizenship and Residency		542
7.1 Requirements for Domicile, Residency and Citizenship		542
7.2 Expeditious Citizenship		542
8. Planning for Minors, Adults with Disabilities and Elders		542
8.1 Special Planning Mechanisms		542
8.2 Appointment of a Guardian		542
8.3 Elder Law		543
9. Planning for Non-Traditional Families		543
9.1 Children		543
9.2 Same-Sex Marriage		543
10. Charitable Planning		543
10.1 Charitable Giving		543
10.2 Common Charitable Structures		544
1. Tax		547
1.1 Tax Regimes		547
1.2 Exemptions		547
1.3 Income Tax Planning		547
1.4 Taxation of Real Estate Owned by Non-Residents		547
1.5 Stability of Tax Laws		547
1.6 Transparency and Increased Global Reporting		547
2. Succession		547
2.1 Cultural Considerations in Succession Planning		547
2.2 International Planning		547
2.3 Forced Heirship Laws		547
2.4 Marital Property		548
2.5 Transfer of Property		548
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		548
2.7 Transfer of Assets: Digital Assets		548
3. Trusts, Foundations and Similar Entities		548
3.1 Types of Trusts, Foundations or Similar Entities		548
3.2 Recognition of Trusts		548
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		548
3.4 Exercising Control Over Irrevocable Planning Vehicles		548
4. Family Business Planning		548
4.1 Asset Protection		548
4.2 Succession Planning		548
4.3 Transfer of Partial Interest		548
5. Wealth Disputes		548
5.1 Trends Driving Disputes		548
5.2 Mechanism for Compensation		549
6. Roles and Responsibilities of Fiduciaries		549
6.1 Prevalence of Corporate Fiduciaries		549
6.2 Fiduciary Liabilities		549
6.3 Fiduciary Regulation		549
6.4 Fiduciary Investment		549
7. Citizenship and Residency		549
7.1 Requirements for Domicile, Residency and Citizenship		549
7.2 Expeditious Citizenship		549
8. Planning for Minors, Adults with Disabilities and Elders		549
8.1 Special Planning Mechanisms		549
8.2 Appointment of a Guardian		549
8.3 Elder Law		549
9. Planning for Non-Traditional Families		550
9.1 Children		550
9.2 Same-Sex Marriage		550
10. Charitable Planning		550
10.1 Charitable Giving		550
10.2 Common Charitable Structures		550
1. Tax		554
1.1 Tax Regimes		554
1.2 Exemptions		554
1.3 Income Tax Planning		555
1.4 Taxation of Real Estate Owned by Non-Residents		555
1.5 Stability of Tax Laws		556
1.6 Transparency and Increased Global Reporting		557
2. Succession		557
2.1 Cultural Considerations in Succession Planning		557
2.2 International Planning		557
2.3 Forced Heirship Laws		558
2.4 Marital Property		558
2.5 Transfer of Property		558
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		559
2.7 Transfer of Assets: Digital Assets		559
3. Trusts, Foundations and Similar Entities		560
3.1 Types of Trusts, Foundations or Similar Entities		560
3.2 Recognition of Trusts		560
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		560
3.4 Exercising Control Over Irrevocable Planning Vehicles		561
4. Family Business Planning		561
4.1 Asset Protection		561
4.2 Succession Planning		562
4.3 Transfer of Partial Interest		562
5. Wealth Disputes		562
5.1 Trends Driving Disputes		562
5.2 Mechanism for Compensation		563
6. Roles and Responsibilities of Fiduciaries		563
6.1 Prevalence of Corporate Fiduciaries		563
6.2 Fiduciary Liabilities		564
6.3 Fiduciary Regulation		564
6.4 Fiduciary Investment		564
7. Citizenship and Residency		564
7.1 Requirements for Domicile, Residency and Citizenship		564
7.2 Expeditious Citizenship		565
8. Planning for Minors, Adults with Disabilities and Elders		565
8.1 Special Planning Mechanisms		565
8.2 Appointment of a Guardian		566
8.3 Elder Law		566
9. Planning for Non-Traditional Families		567
9.1 Children		567
9.2 Same-Sex Marriage		567
10. Charitable Planning		568
10.1 Charitable Giving		568
10.2 Common Charitable Structures		568
1. Tax		587
1.1 Tax Regimes		587
1.2 Exemptions		587
1.3 Income Tax Planning		587
1.4 Taxation of Real Estate Owned by Non-Residents		588
1.5 Stability of Tax Laws		588
1.6 Transparency and Increased Global Reporting		589
2. Succession		589
2.1 Cultural Considerations in Succession Planning		589
2.2 International Planning		589
2.3 Forced Heirship Laws		589
2.4 Marital Property		590
2.5 Transfer of Property		590
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		590
2.7 Transfer of Assets: Digital Assets		591
3. Trusts, Foundations and Similar Entities		591
3.1 Types of Trusts, Foundations or Similar Entities		591
3.2 Recognition of Trusts		592
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		592
3.4 Exercising Control Over Irrevocable Planning Vehicles		593
4. Family Business Planning		593
4.1 Asset Protection		593
4.2 Succession Planning		594
4.3 Transfer of Partial Interest		594
5. Wealth Disputes		594
5.1 Trends Driving Disputes		594
5.2 Mechanism for Compensation		595
6. Roles and Responsibilities of Fiduciaries		595
6.1 Prevalence of Corporate Fiduciaries		595
6.2 Fiduciary Liabilities		595
6.3 Fiduciary Regulation		596
6.4 Fiduciary Investment		596
7. Citizenship and Residency		596
7.1 Requirements for Domicile, Residency and Citizenship		596
7.2 Expeditious Citizenship		597
8. Planning for Minors, Adults with Disabilities and Elders		597
8.1 Special Planning Mechanisms		597
8.2 Appointment of a Guardian		598
8.3 Elder Law		598
9. Planning for Non-Traditional Families		598
9.1 Children		598
9.2 Same-Sex Marriage		599
10. Charitable Planning		599
10.1 Charitable Giving		599
10.2 Common Charitable Structures		599
1. Tax		611
1.1 Tax Regimes		611
1.2 Exemptions		612
1.3 Income Tax Planning		613
1.4 Taxation of Real Estate Owned by Non-Residents		613
1.5 Stability of Tax Laws		613
1.6 Transparency and Increased Global Reporting		614
2. Succession		615
2.1 Cultural Considerations in Succession Planning		615
2.2 International Planning		615
2.3 Forced Heirship Laws		615
2.4 Marital Property		615
2.5 Transfer of Property		615
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		616
2.7 Transfer of Assets: Digital Assets		616
3. Trusts, Foundations and Similar Entities		616
3.1 Types of Trusts, Foundations or Similar Entities		616
3.2 Recognition of Trusts		616
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		617
3.4 Exercising Control Over Irrevocable Planning Vehicles		617
4. Family Business Planning		618
4.1 Asset Protection		618
4.2 Succession Planning		618
4.3 Transfer of Partial Interest		618
5. Wealth Disputes		618
5.1 Trends Driving Disputes		618
5.2 Mechanism for Compensation		618
6. Roles and Responsibilities of Fiduciaries		619
6.1 Prevalence of Corporate Fiduciaries		619
6.2 Fiduciary Liabilities		619
6.3 Fiduciary Regulation		619
6.4 Fiduciary Investment		619
7. Citizenship and Residency		619
7.1 Requirements for Domicile, Residency and Citizenship		619
7.2 Expeditious Citizenship		620
8. Planning for Minors, Adults with Disabilities and Elders		620
8.1 Special Planning Mechanisms		620
8.2 Appointment of a Guardian		620
8.3 Elder Law		621
9. Planning for Non-Traditional Families		621
9.1 Children		621
9.2 Same-Sex Marriage		621
10. Charitable Planning		621
10.1 Charitable Giving		621
10.2 Common Charitable Structures		622
1. Tax		631
1.1 Tax Regimes		631
1.2 Exemptions		631
1.3 Income Tax Planning		632
1.4 Taxation of Real Estate Owned by Non-Residents		632
1.5 Stability of Tax Laws		632
1.6 Transparency and Increased Global Reporting		632
2. Succession		633
2.1 Cultural Considerations in Succession Planning		633
2.2 International Planning		633
2.3 Forced Heirship Laws		633
2.4 Marital Property		633
2.5 Transfer of Property		634
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		634
2.7 Transfer of Assets: Digital Assets		635
3. Trusts, Foundations and Similar Entities		635
3.1 Types of Trusts, Foundations or Similar Entities		635
3.2 Recognition of Trusts		636
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		636
3.4 Exercising Control Over Irrevocable Planning Vehicles		636
4. Family Business Planning		636
4.1 Asset Protection		636
4.2 Succession Planning		636
4.3 Transfer of Partial Interest		637
5. Wealth Disputes		637
5.1 Trends Driving Disputes		637
5.2 Mechanism for Compensation		637
6. Roles and Responsibilities of Fiduciaries		637
6.1 Prevalence of Corporate Fiduciaries		637
6.2 Fiduciary Liabilities		638
6.3 Fiduciary Regulation		638
6.4 Fiduciary Investment		638
7. Citizenship and Residency		638
7.1 Requirements for Domicile, Residency and Citizenship		638
7.2 Expeditious Citizenship		639
8. Planning for Minors, Adults with Disabilities and Elders		639
8.1 Special Planning Mechanisms		639
8.2 Appointment of a Guardian		639
8.3 Elder Law		639
9. Planning for Non-Traditional Families		640
9.1 Children		640
9.2 Same-Sex Marriage		640
10. Charitable Planning		640
10.1 Charitable Giving		640
10.2 Common Charitable Structures		641
1. Tax		651
1.1 Tax Regimes		651
1.2 Exemptions		652
1.3 Income Tax Planning		652
1.4 Taxation of Real Estate Owned by Non-Residents		652
1.5 Stability of Tax Laws		652
1.6 Transparency and Increased Global Reporting		652
2. Succession		652
2.1 Cultural Considerations in Succession Planning		652
2.2 International Planning		652
2.3 Forced Heirship Laws		652
2.4 Marital Property		652
2.5 Transfer of Property		653
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		654
2.7 Transfer of Assets: Digital Assets		654
3. Trusts, Foundations and Similar Entities		654
3.1 Types of Trusts, Foundations or Similar Entities		654
3.2 Recognition of Trusts		655
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		655
3.4 Exercising Control Over Irrevocable Planning Vehicles		655
4. Family Business Planning		656
4.1 Asset Protection		656
4.2 Succession Planning		656
4.3 Transfer of Partial Interest		656
5. Wealth Disputes		656
5.1 Trends Driving Disputes		656
5.2 Mechanism for Compensation		656
6. Roles and Responsibilities of Fiduciaries		657
6.1 Prevalence of Corporate Fiduciaries		657
6.2 Fiduciary Liabilities		657
6.3 Fiduciary Regulation		657
6.4 Fiduciary Investment		657
7. Citizenship and Residency		657
7.1 Requirements for Domicile, Residency and Citizenship		657
7.2 Expeditious Citizenship		658
8. Planning for Minors, Adults with Disabilities and Elders		658
8.1 Special Planning Mechanisms		658
8.2 Appointment of a Guardian		658
8.3 Elder Law		658
9. Planning for Non-Traditional Families		659
9.1 Children		659
9.2 Same-Sex Marriage		659
10. Charitable Planning		660
10.1 Charitable Giving		660
10.2 Common Charitable Structures		660
1. Tax		667
1.1 Tax Regimes		667
1.2 Exemptions		667
1.3 Income Tax Planning		667
1.4 Taxation of Real Estate Owned by Non-Residents		667
1.5 Stability of Tax Laws		667
1.6 Transparency and Increased Global Reporting		667
2. Succession		667
2.1 Cultural Considerations in Succession Planning		667
2.2 International Planning		667
2.3 Forced Heirship Laws		667
2.4 Marital Property		667
2.5 Transfer of Property		668
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		668
2.7 Transfer of Assets: Digital Assets		668
3. Trusts, Foundations and Similar Entities		668
3.1 Types of Trusts, Foundations or Similar Entities		668
3.2 Recognition of Trusts		669
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		669
3.4 Exercising Control Over Irrevocable Planning Vehicles		669
4. Family Business Planning		669
4.1 Asset Protection		669
4.2 Succession Planning		670
4.3 Transfer of Partial Interest		670
5. Wealth Disputes		670
5.1 Trends Driving Disputes		670
5.2 Mechanism for Compensation		670
6. Roles and Responsibilities of Fiduciaries		671
6.1 Prevalence of Corporate Fiduciaries		671
6.2 Fiduciary Liabilities		671
6.3 Fiduciary Regulation		671
6.4 Fiduciary Investment		671
7. Citizenship and Residency		671
7.1 Requirements for Domicile, Residency and Citizenship		671
7.2 Expeditious Citizenship		671
8. Planning for Minors, Adults with Disabilities and Elders		671
8.1 Special Planning Mechanisms		671
8.2 Appointment of a Guardian		672
8.3 Elder Law		672
9. Planning for Non-Traditional Families		672
9.1 Children		672
9.2 Same-Sex Marriage		673
10. Charitable Planning		673
10.1 Charitable Giving		673
10.2 Common Charitable Structures		673
1. Tax		681
1.1 Tax Regimes		681
1.2 Exemptions		681
1.3 Income Tax Planning		682
1.4 Taxation of Real Estate Owned by Non-Residents		682
1.5 Stability of Tax Laws		682
1.6 Transparency and Increased Global Reporting		682
2. Succession		682
2.1 Cultural Considerations in Succession Planning		682
2.2 International Planning		683
2.3 Forced Heirship Laws		683
2.4 Marital Property		683
2.5 Transfer of Property		683
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		683
2.7 Transfer of Assets: Digital Assets		683
3. Trusts, Foundations and Similar Entities		683
3.1 Types of Trusts, Foundations or Similar Entities		683
3.2 Recognition of Trusts		684
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		684
3.4 Exercising Control Over Irrevocable Planning Vehicles		684
4. Family Business Planning		684
4.1 Asset Protection		684
4.2 Succession Planning		684
4.3 Transfer of Partial Interest		684
5. Wealth Disputes		684
5.1 Trends Driving Disputes		684
5.2 Mechanism for Compensation		684
6. Roles and Responsibilities of Fiduciaries		685
6.1 Prevalence of Corporate Fiduciaries		685
6.2 Fiduciary Liabilities		685
6.3 Fiduciary Regulation		685
6.4 Fiduciary Investment		685
7. Citizenship and Residency		685
7.1 Requirements for Domicile, Residency and Citizenship		685
7.2 Expeditious Citizenship		685
8. Planning for Minors, Adults with Disabilities and Elders		685
8.1 Special Planning Mechanisms		685
8.2 Appointment of a Guardian		685
8.3 Elder Law		685
9. Planning for Non-Traditional Families		686
9.1 Children		686
9.2 Same-Sex Marriage		686
10. Charitable Planning		686
10.1 Charitable Giving		686
10.2 Common Charitable Structures		686
1. Tax		689
1.1 Tax Regimes		689
1.2 Exemptions		690
1.3 Income Tax Planning		690
1.4 Taxation of Real Estate Owned by Non-Residents		690
1.5 Stability of Tax Laws		691
1.6 Transparency and Increased Global Reporting		691
2. Succession		691
2.1 Cultural Considerations in Succession Planning		691
2.2 International Planning		691
2.3 Forced Heirship Laws		692
2.4 Marital Property		692
2.5 Transfer of Property		694
2.6 Transfer of Assets: Vehicle and Planning Mechanisms		694
2.7 Transfer of Assets: Digital Assets		695
3. Trusts, Foundations and Similar Entities		695
3.1 Types of Trusts, Foundations or Similar Entities		695
3.2 Recognition of Trusts		696
3.3 Tax Considerations: Fiduciary or Beneficiary Designation		696
3.4 Exercising Control Over Irrevocable Planning Vehicles		696
4. Family Business Planning		696
4.1 Asset Protection		696
4.2 Succession Planning		697
4.3 Transfer of Partial Interest		697
5. Wealth Disputes		697
5.1 Trends Driving Disputes		697
5.2 Mechanism for Compensation		697
6. Roles and Responsibilities of Fiduciaries		698
6.1 Prevalence of Corporate Fiduciaries		698
6.2 Fiduciary Liabilities		698
6.3 Fiduciary Regulation		698
6.4 Fiduciary Investment		698
7. Citizenship and Residency		699
7.1 Requirements for Domicile, Residency and Citizenship		699
7.2 Expeditious Citizenship		699
8. Planning for Minors, Adults with Disabilities and Elders		700
8.1 Special Planning Mechanisms		700
8.2 Appointment of a Guardian		700
8.3 Elder Law		700
9. Planning for Non-Traditional Families		700
9.1 Children		700
9.2 Same-Sex Marriage		701
10. Charitable Planning		701
10.1 Charitable Giving		701
10.2 Common Charitable Structures		701

Powered by