The challenges of succession planning
Strategic wealth planning has challenges of which all families should be aware. Chief among them are legal and tax considerations that differ based on countries and jurisdictions.
Different countries have different rules. Special care should be taken to understand the rules specific to your personal situation—not just in your home country but also the countries where your assets are situated and those in which your beneficiaries reside. For example, in certain countries it is imperative to have a valid will—a legal document dictating whom your assets pass on to after your death.
Or in some countries, taxes can considerably impact the value of assets as they are passed from one generation to the next. These types of implications should be examined and reflected in your strategy.