Transfers can sometimes be a challenge.

Some nations around the world can be difficult in carrying out intergenerational wealth transfers. However, it is particularly difficult in Asia with intergenerational transfers of high wealth having a failure rate of 70%, according to the Wills, Trusts & Estates Prof Blog in “Death And Taxes: How To Effectively Transfer Wealth Amidst Asia’s Aging Population.”

One of the reasons for this problem in Asia, is that most countries on the continent have high estate or inheritance taxes. The other reasons include a lack of planning for succession. It also seems that younger family generations do not exercise the same stewardship of wealth as their elders who created the wealth.

Asians are planning around their high failure rate of wealth transfer, by purchasing life insurance to avoid high estate taxes.

Not only is it easier to carry out wealth transfers in the U.S., but an estate planning attorney can advise you on creating an estate plan that fits your unique circumstances.

Do You Need To Speak With An Attorney About Estate Planning?

If you need to speak with an experienced estate planning lawyer please contact us online or call us directly at 800.756.5596 to first register for one of our free, informative seminars. Your attendance will qualify you for a special discount for our estate planning services should you decide to make a free appointment at the conclusion of the seminar and choose to proceed with us. We proudly serve clients throughout California with offices in Torrance, Newport Beach, Orange, Woodland Hills and Pasadena.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
Post A Comment