Safeguarding Your Assets for Future Generations
Ownership of luxury assets such as yachts, private aircraft, classic cars and art is an increasing area of interest. Assets may be acquired for lifestyle or for investment reasons. Our team appreciates that motivation and will help with considerations to create the appropriate tax efficient ownership structure.
Acquisition of luxury assets can provide clients with a great deal of pleasure. Ownership and maintenance though can be complex and can lend itself to considerable responsibility and cost.
Establishing and administering an efficient tailored ownership structure that is tax efficient and provides operational efficiencies with the upkeep of the asset is vital.
Our team work closely with numerous professional advisers to ensure all the tax and legal knowledge needed to properly administer high-value assets that are mobile in nature is understood. In the case of a private jet or a superyacht this will include sourcing advice on VAT as a result of commercial and private ownership.
Ownership structures for artwork, jewellery, vintage car collections, and other forms of collectables is also administered. Such investments are often referred to as passion investments and require a careful understanding both market sensitivities of such asset value and the family’s wishes in relation to retaining, building, selling and funding a collection.
At Forward these structures will not only safeguard accumulated assets during life but will also ensure they are managed appropriately after the original owner’s death and that they can be enjoyed fully, whether aesthetically or financially, by future generations within the family or under curator-ship.
- Robust structures to hold luxury assets
- Trustee and directors’ services
- Asset holding & administration services
- Book-keeping and accounting services
- Liaison with single / multi-family offices
- Specialist lawyers and tax advisors through our global network