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Estate planning is an initiative by the wealth creator to structure a forward strategy for the transition of ownership and leadership to the succeeding generations. The structures must serve the complexity of Asian business families which straddles across various divides: worldview, educational, experiential, cultural, expectations, lifestyles.
The success of a plan lies in bridging the expectations of the founder with the reality of the evolving dynamics of the next generations. Effective planning requires the participation of a multi disciplinary team of advisors. The transition of family businesses and wealth in the following decades, if not properly structured, affects not just the families, but also other stakeholders such as employees, investors, financiers, and the eco-system of the community.
This session explores the dynamics of family businesses, the adaptation of structures developed in the West to serve families in the East, factors affecting the choice of jurisdictions for structures, the role of advisors, and the function of a family office.