Wealth Solutions & Wealth Planning
Business Families in Transition - Guiding Wealthy Families in the Passing of the Torch
Sep 2, 2023
The great wealth transfer in Asia, as it is often regarded as, alludes to the present reality facing the region, in which trillions of dollars are set to be passed to the next generations of wealthy families in a region set to be the largest wealth hub globally by 2026.
Hubbis recently had the pleasure of learning how Asia’s private client professionals can best support the families undertaking this transition by speaking with Zac Lucas, a Partner Solicitor at Spencer West, and a seasoned international private client law specialist.
In this video, Zac delves into an array of topics, delving into the realities of the challenges that come with passing on a business to the second and third generations, beginning with a look at the reassessment process and how that helps to protect against the failure of succeeded businesses.
He looked at what elements need to be considered to make transitioned businesses sustainable, and the strategies which assist in the consideration of how a business will be affected in said transition. He explored the strategies available where a there is a challenging overall assessment in the ability for a business to change hands within the family. And he delved into what to do where there is a positive overall assessment on the possibility of a transition of the business into the next generation’s hands.
We hope you enjoy the recording, which can be found HERE.
If you are interested in learning more, and deeping your understanding on the current trends and themes one needs to be aware of to better serve your clients, be sure to get in touch to learn more about Wealtra, Asia’s leading professional development solutions provider, be sure to get in touch with us HERE.
Partner – International Private Wealth at Spencer West LLP
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