WEALTH PLANNING STRATEGIES: WHY YOU NEED ONE

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Why do family offices need wealth planning?

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  When it comes to family offices, planning and managing wealth for the entire family are core capabilities. However, wealth planning goes beyond mere investment management. It covers the sum of arrangements to grow, preserve, protect, and transfer family wealth. It comes with legal, financial, and tax planning to achieve the ground plan's objectives. Thus a family's legacy and values play an essential role in preserving wealth over generations. A thorough assessment and alignment ensure that individual family members contribute to the family unity and preservation of family wealth.  Based on a shared understanding of the family's values and purpose of wealth, family offices can design and implement tailored investment strategies to preserve and grow wealth.   Designing individualized investment strategies Family offices are highly specialized wealth management service entities. However, a family office needs to be integrated into an overall wealth planning framework...
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Lump-Sum taxation: A brief about its origin.

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  When Charlie Chaplin arrived in Switzerland, the cantons implemented lump-sum tax regimes that attracted foreign celebrities to move to Switzerland. Even though there has been a political debate about such tax arrangements, it is not just limited to foreign countries but also happening in Switzerland. Cantons like Zurich and Basel abolished lump-sum taxation based on referendums or legislative initiatives. The Swiss tax system allocates taxation rights at a federal and cantonal level. Since tax laws are subject to referendum, people have the final say on taxes. According to the Swiss taxman, this may be a reason why direct and indirect taxes are not the highest in the international comparison.  Let’s understand what lump-sum taxation exactly is. It is a taxation methodology based on the taxpayer’s cost of living. The taxable base is then relevant for federal, cantonal wealth taxes. The benefit of lump-sum taxation is attractive tax results mainly if the taxpayer’s foreign in...
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