Scenario

Ultra High Net Worth Client based in Asia with personal and business assets held globally, in both a personal capacity and via a number of institutions.  Due to issues over control, governance and cost efficiencies, Client required a consolidation of these assets into one structure, flexible enough to cater for future needs, together with the ongoing management through the facilitation of a family office service.

Solution

Abacus undertook a global review of the personal and business assets held, including visiting the client and various institutions.   Following this a detailed report was prepared and provided to the client reviewing the position of all assets as well as outlining the proposed structuring to achieve the client’s requirements.  Abacus subsequently created two Private Trust Company (“PTC”) structures in order to consolidate and separate the Client’s personal and business assets.  The benefits of choosing PTC structures were;

• Retention of control,
• Confidentiality and anonymity,
• Consolidation of ownership of assets,
• Protection of family wealth and flexibility to cater for future requirements,
• Board of Trustee able to make decisions directly,
• Family member was appointed to Board of Trustee,
• Succession planning.

Once established, Abacus liaised with the various institutions to transfer the assets to the appropriate structure whilst ensuring that, from the client’s perspective, the transition was seamless.  The PTC structures provided an administrative platform for the family office to administer the client’s assets, which included aircraft, yachts, international commercial and residential real estate, investment portfolios and trading companies.

Related Services

Family OfficeStructuring Other Services