Private Clients & Family Office Services
Private clients generally have very specific, individual demands when it comes to tax planning and consulting.
HNWI (High Net-worth Individuals) and family businesses need highly skilled multidisciplinary advisors who, not only give practical national legal and fiscal guidance in estate planning, but also legal and fiscal guidance in cross-border residential and investment matters. These advisors also need to understand and respect the individual and long-term vision of the family, and of the family business itself.
At WTS, we established a particular service line for those family needs. Our private client experts support HNWI, their family businesses, family offices and non-profit organizations in dealing with all specialist questions. These include succession issues, complex civil law issues, the implementation of voluntary disclosures, asset controlling (WTS-QPLIX), tax compliance matters; tax optimization and/or mitigation of domestic and foreign investments as well as planning emigration and immigration are also of high relevance.
Even though we do not provide investment advice or portfolio management, our tax experts also function as sparring partner with regard to setting up investment processes etc.
Asides estate planning, which affects the family members themselves, our experts cover legal and tax aspects of intergenerational control structures, thereby combining family ownership with external management. Indeed, family held businesses, large and small, are confronted with generational transfers on average every 25 to 30 years`. These generational transfers can give rise to a variety of legal issues, conflicts, and adverse tax ramifications, which may be mitigated and/or prevented with proper planning.
Our services for HNWI and Family Offices include advice and guidance in relation to:
- Structural issues such as the use of trusts, foundations, testamentary solutions, holdings and family charters to carry out succession goals
- Tax issues and the available exemptions upon transfer of the family held businesses to the next generation during life or at death
- Maintenance of active and/or passive control over the family business within the multi-generational turmoil
- Tax planning of investments into and disposals of any assets domestic or international, be it corporate, real estate or liquid investments
- Preparation of tax returns at holding level, investments schemes, income arrangements;
- international tax law and the various forms of ‘look through’ taxation which may affect family members;
- Assistance with charitable activities
- WTS - QPLIX asset controlling tool
WTS - QPLIX multi asset controlling provides comprehensive data and information to the family members, family offices, asset managers and risk managers for controlling and implementing an investment strategy for risk management and for the overall monitoring of assets. This solution delivers real time and daily available information on all liquid and illiquid asset classes, sophisticated performance and risk measurement, integrated tax or IFRS data. Consolidation capabilities across different or all family members and legal entities and an integrated document management system turn the system into a comprehensive middle and back office for large estates and their family offices.
Our Private Clients and Family Office team which comprises tax experts, civil law professionals and other highly qualified personnel, has partner firms in more than 100 countries. Our international and interdisciplinary approach distinguishes us from our competitors and allows us to work out a tailor-made solution for our clients.