High Net Worth Individuals Face a Challenging Wealth Planning Landscape
Retrieved on:
Wednesday, July 5, 2023
High net worth individuals must pay close attention to new conditions and how they will impact their wealth planning strategies.
Key Points:
- High net worth individuals must pay close attention to new conditions and how they will impact their wealth planning strategies.
- "Given the upcoming changes in tax laws, regulatory environments, and economic conditions, it is vital for high net worth individuals to proactively review and adjust their wealth planning strategies," advises David Frederick, J.D., LL.M.
- High net worth individuals using these structures for asset protection and confidentiality will need to adapt to new regulations, potentially with high administration costs and lower privacy protections.
- To navigate this increasingly complex landscape, high net worth individuals are strongly encouraged to seek guidance from experienced estate planning professionals.