Latest news with #wealthpreservation
Telegraph
7 hours ago
- Business
- Telegraph
Masterclass live at 12pm on 26 June 2025
Speakers Holly Mackay, investment expert and founder of Boring Money, and Matt Conradi, deputy chief executive at Netwealth, will discuss a range of topics critical to long-term wealth preservation as well as answering your questions about why it's important to diversify beyond bricks and mortar. The webinar will start at 12 noon on Thursday 26 June
Telegraph
6 days ago
- Business
- Telegraph
Privacy Notice for Netwealth Event
Introduction This privacy notice describes how we process personal data provided by you to Telegraph Media Group Holdings Limited ("TMG", "we") in connection with "the Beyond Property: Long-Term Wealth Preservation with Netwealth" event ("Webinar"). It is important that you read this notice so that you are aware of how and why we are using your personal data. TMG is the data controller of your personal data. This means that TMG decides what your personal data is used for, and the ways in which it is processed. As a data controller, TMG has the responsibility to comply, and to demonstrate compliance with applicable data protection laws. Why do we collect your personal data? We collect your personal data for the purposes of administering the Webinar. We will also collect your marketing opt-in, and share it with Netwealth Investments Limited ("Netwealth"). What personal data will TMG collect? Personal data We will collect the following personal data about you: Title Name Date of birth Company name and your job title Telephone and/or mobile phone number Email address Country Any personal data you may share with us in "Submit your questions for our speakers". The lawful basis for TMG to process your personal data for the purpose as described above is contract or legitimate interest. We will also collect your marketing opt-in information. The lawful basis for this is your consent. Sharing your personal data If you decide to submit a question, your first name may be shared with the speakers at the event should it be selected to be asked. If you have opted-in to receive marketing from Netwealth, this information will be collected by TMG and securely shared with Netwealth, who will use it in accordance with their own privacy policy. TMG works with our approved third-party providers who help us to provide some of our services. These partners only use your personal data on behalf of TMG and not independently of TMG. We may also share personal data with third parties where required or permitted by law. Retaining your personal data Personal data from your webinar registration will be kept for 12 months since data collection. After 12 months it will be automatically deleted. Where we store your personal data When we store your personal data in our own systems, it is stored in the United Kingdom. Security We take appropriate measures to ensure that all personal data is kept secure including security measures to prevent personal data from being accidentally lost, or used or accessed in an unauthorised way. We limit access to your personal data to those who have a genuine business need to know it. Those processing your personal data will do so only in an authorised manner and are subject to a duty of confidentiality. We also have procedures in place to deal with any actual or suspected data security breach. We will notify you and any applicable regulator of a data security breach where we are legally required to do so. Your rights Under the UK GDPR you have a number of important rights. In summary, those include rights to: access to your personal data and to certain other supplementary information that this Privacy Notice is already designed to address require us to correct any mistakes in your personal data which we hold require the erasure of personal data concerning you in certain situations receive the personal data concerning you which you have provided to us, in a structured, commonly used and machine-readable format and have the right to transmit those data to a third party in certain situations object at any time to processing of personal data concerning you for direct marketing purposes object to decisions taken from processing your personal data by automated means which produce legal effects concerning you or similarly significantly affect you object in certain other situations to our continued processing of your personal data otherwise restrict our processing of your personal data in certain circumstances claim compensation for damages caused by our breach of any data protection laws. For further information on each of those rights, including the circumstances in which they apply, see the Guidance from the UK Information Commissioner's Office (ICO) on individuals rights under the General Data Protection Regulation. If you would like to exercise any of those rights, please: contact us using our Contact details below, let us have enough information to identify you, let us have proof of your identity and address, and let us know the information to which your request relates. Contact Questions and comments regarding this Privacy Notice and rights requests should be addressed to the Data Protection Officer by email DPO@ or by post to: Data Protection Officer, 111 Buckingham Palace Road, London SW1 0DT. How to complain We hope that we can resolve any query or concern you raise about our use of your personal data. However, if you are not satisfied with how we have dealt with your enquiry/complaint you make a complaint with a supervisory authority. The supervisory authority for data protection in the UK is the Information Commissioner whose contact details can be found at or by telephone: +44303-123-1113.
Free Malaysia Today
20-05-2025
- Business
- Free Malaysia Today
Citadel Trustee launches new trust to help Malaysians preserve wealth
Citadel Trustee Bhd staff and potential clients at the launch of the Citadel Dynasty Trust in Petaling Jaya today. (Citadel Trustee pic) PETALING JAYA : Citadel Trustee Bhd has launched the Citadel Dynasty Trust, a new private trust structure aimed at helping Malaysian families preserve their wealth across multiple generations. The trust is designed to operate within the 80-year framework permitted under Malaysian trust law and addresses common issues in legacy planning, including legal limitations, probate delays and high estate administration costs. At the trust's launch here today, Citadel Group director Fred Chan noted that most Malaysians lacked awareness of estate planning, which often resulted in delays and complications in wealth distribution to their heirs and beneficiaries. Chan said the trust allowed for full, partial or customised distributions triggered by specific events such as death or total permanent disability, with beneficiaries able to receive funds within three working days, substantially faster than standard probate timelines. The Citadel Dynasty Trust only requires a one-time setup fee with no ongoing trustee charges. 'The Citadel Dynasty Trust offers a legally sound and flexible framework for families who want to secure their wealth for future generations,' he said. 'Unlike other trustees that charge an annual interest fee of up to 4.5%, which gradually erodes the initial trust capital, we require only a one-time payment of RM40,000. 'This ensures that the initial trust capital, for example, RM1 million, remains intact for up to 80 years until distribution,' he said. He also said Citadel Dynasty Trust expects to achieve its asset under management (AUM) target of RM5 billion in five years after its launch. Chan said Citadel Trustee was looking to promote the Citadel Dynasty Trust among senior citizens and clients from Hong Kong, Indonesia, Singapore and other countries with inheritance tax laws who were looking to invest their wealth in Malaysia. 'We will also have a shariah-compliant version for our Muslim clients in the future,' he said. The launch coincides with Citadel Trustee's fifth anniversary. Since its establishment in 2020, the company has focussed on innovation and client service in the areas of estate and legacy planning. Citadel Trustee is a subsidiary of the Citadel Group, a private trust management company providing wealth planning solutions to over 15,000 clients ranging from individuals, families and businesses.
Forbes
07-05-2025
- Business
- Forbes
Fortifying Wealth With Offshore Asset Protection
Blake Harris is an Asset Protection Attorney and Founding Principle of Blake Harris Law. getty If you aim to become a millionaire, the U.S. may be the best place to build wealth, with nearly 22 million millionaires in the country as of 2023—38% of the global total. Asset protection lawyers (like me) often stress that offshore strategies can effectively shield wealth from lawsuits, divorce, creditor claims and regulatory overreach. Keeping all assets within U.S. borders leaves high-net-worth individuals vulnerable, making offshore diversification a key tool for wealth preservation. Legal threats, market volatility and government intervention pose significant risks. A survey found that 92% of affluent individuals fear liability lawsuits. Relying solely on domestic protections leaves gaps in security. Offshore asset protection creates legal barriers against litigation and economic instability but can—and of course, should—still comply with tax and reporting laws. This article explores key asset risks and how offshore trusts can enhance privacy, jurisdictional diversification and long-term financial security. Potential Risks Of Key Asset Classes Here are some of the key asset classes and their risks. Securities Investing in stocks and bonds is a primary way high-net-worth individuals grow their wealth, but these assets are vulnerable to economic downturns, market volatility and legal claims. Government-imposed restrictions on capital movement or sudden regulatory changes can also impact investment portfolios. Real Estate Real estate is a foundational asset class for many wealthy individuals, but it comes with significant risks. Property owners may face legal claims from tenants, contractors or business disputes. Government actions such as eminent domain, changing tax laws or zoning restrictions can also undermine property value and ownership rights. Economic downturns further compound the risk, leading to depreciated property values and liquidity challenges. Cryptocurrencies Digital assets have become a significant part of many modern wealth portfolios, but they are inherently risky. Legal uncertainty surrounding cryptocurrency regulations can make ownership precarious as governments and financial institutions continue to shape policies. Cryptocurrencies are also vulnerable to asset seizures in legal disputes and bankruptcy proceedings. Cybersecurity threats, such as hacking and fraud, further add to the risks associated with digital wealth. Strategic Offshore Asset Protection Approaches No asset protection plan eliminates all risks—market shifts and economic instability remain beyond our control. However, offshore structures can help minimize threats like lawsuits, divorce, creditor claims and government overreach. Strategic asset structuring can enhance financial security and better ensure long-term stability. In my professional opinion, the most effective offshore asset protection strategies begin with establishing an offshore trust, which places assets outside U.S. jurisdiction. Choosing The Right Offshore Jurisdiction Offshore protections vary by jurisdiction. Choosing the right one helps match an investor's needs with effectiveness and legal compliance. • Widely considered the gold standard for asset protection, the Cook Islands offer several legal advantages, including a refusal to recognize U.S. court judgments, that make them difficult for creditors to penetrate. • Nevis imposes significant legal hurdles for lawsuits against trusts, requiring plaintiffs to post a $100,000 bond before initiating legal action. • Belize offers a streamlined process for forming trusts, making it a strong choice for rapid asset shielding. Top jurisdictions impose significant legal and financial barriers, deterring creditor claims and minimizing asset loss risk. Diversification Across Jurisdictions Relying on one jurisdiction increases risk. Diversifying across countries can better shield wealth from legal and economic shifts. Offshore brokerage accounts allow investment in foreign stocks and bonds, while real estate holdings in multiple countries provide additional layers of security. Banking in multiple offshore jurisdictions can further strengthen asset protection strategies. Regulatory Compliance Challenges And Legal Considerations While offshore trusts offer significant advantages, they must be structured in full compliance with U.S. tax and reporting laws. The Reports of Foreign Bank and Financial Accounts (FBAR) and the Foreign Account Tax Compliance Act (FATCA) require U.S. citizens to disclose offshore financial accounts and report taxable income. Failing to comply with these regulations can result in severe IRS penalties. To avoid legal pitfalls, high-net-worth individuals should work with experienced asset protection attorneys who understand both U.S. and international laws. Proper structuring better ensures legal compliance while maximizing protection. The Millionaire Mindset: Proactive Wealth Protection Starting Early The best time to implement an offshore asset protection strategy is before a lawsuit or financial crisis occurs. Once legal claims are filed, courts may view last-minute asset transfers as fraudulent, limiting the effectiveness of offshore structures. Thinking Globally Countries with strong investor-friendly regulations typically provide better protection than the U.S. legal system, where creditor claims can easily freeze or seize assets. Consulting With An Experienced Law Firm Structuring an excellent offshore asset protection plan requires the guidance of legal professionals, tax advisors and wealth management specialists. A do-it-yourself approach to offshore planning can lead to legal complications, but proper guidance can help an investor achieve full compliance while maximizing protection benefits. Offshore trusts can be a powerful tool for modern millionaires seeking to better protect their wealth from lawsuits, market risks and regulatory changes. Strategic diversification across multiple jurisdictions can help create a financial fortress, better shielding wealth from unnecessary threats and better securing long-term financial stability. The information provided here is not investment, tax or financial advice. You should consult with a licensed professional for advice concerning your specific situation. Forbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Do I qualify?
