Supporting Private Clients In Asia

• Published date: 26 December 2022
• Subject Matter: Finance and Banking, Wealth Management, Financial Services, Wealth & Asset Management
• Law Firm: Ocorian
• Author: Prapa Pearce

Ocorian's Prapa Pearce, Executive Director, and Shawn Wang, Head of Trust Services, sat down with Jersey Finance to answer some key questions surrounding our Private Client capabilities in Asia.

What makes the private client team at Ocorian stand out?

In an increasingly uncertain world, wealthy families and individuals need a trusted partner to guide them through the complex challenges that uniquely impact them and their affairs. With offices worldwide, our highly regarded private client teams provide customised and scalable solutions to protect, preserve and grow your family wealth - exactly how and where you need us to.

Ocorian's private client team in Jersey have been managing the complexities of family's wealth for decades. Jersey has long since been established as an ideal hub for the management of structures such as trusts, and our team have been at the heart of the Jersey finance industry for decades and decades to come.

Why is planning important for asset protection?

Passing on significant wealth, or protecting it for future generations, is a critical part of any family's financial strategy. Naturally, you want to protect the wealth you have created but succession planning can be complex and time consuming.

Ocorian have a hugely experienced and specialist team at your disposal. Protecting your assets ensures your family members, and any other beneficiaries, extract the most value from your estate whilst creating financial security. Assets come in many forms, whether that is a share portfolio, art, jewellery - whatever you hold dear.

What is the process for setting up an asset protection trust and what are the advantages of this type of structure?

Our specialist team will guide you through the process of setting up the right structure for you. We will act as a trustee by managing and administering your trust in accordance with your wishes and in a way that meets all the requirements. Every decision we make will be in the best interests of the trust's beneficiaries. A huge part of our role is relationship building. We will get to know your ambitions in detail, so we can help you meet them and become a trusted guide on your financial journey.

There are several financial benefits to these structures include tax efficiency, peace of mind for future generations, and protection from every-changing regulations.

What is your advice to a potential new client who is concerned about relinquishing control?

Ocorian's private client team have been managing...