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It is no secret that the world has changed forever. The global pandemic in 2019 changed the economic outlook of the world forever. With businesses closing down all over the world due to global lockdowns, the money evaporated from the market quickly. With so much uncertainty and unpredictability in the market, your assets are now at a greater risk than any time in the past decade.

The governments are scrambling for new policies to cope with the financial pressure, and as a result, the taxes are rising to fund the government support plans. Also, the policies by central banks all across the globe to keep rates low are hurting everyone with a minimum of savings since interest rates are near zero or negative.

Besides, the high fluctuations in the market are one of the main reasons why people are losing their wealth. When people allow fear or greed to control their decisions instead of expert knowledge, they suffer huge losses.

But here’s the thing…

The biggest threat to your wealth is not due to external conditions but comes from within the family. Family disputes have become quite common in recent years, with public hearings of multi-billion-dollar family disputes and media headlines. The continued success of business empires depends upon the successful transition to the second or third generations. In transition disputes, the only professionals making money are the lawyers who assist the family fights.

These disputes are intimate, often bitter affairs where their resolution is not often motivated by commercial considerations. Mediation through a trusted person (whether a family member or a third party) should be the first choice whenever possible. Being as prepared as possible is the best method of avoiding conflict and protecting wealth.

The best way to prepare for avoiding conflict is through transferring assets into a private investment company, a trust, or a foundation. This way, you can avoid the following threats to your wealth:

• Creditors and frivolous lawsuits; The “American” model of litigating is gaining ground…
• Spendthrift of heirs; Parents know instinctively which of the children can handle wealth and which not…
• Family feuds and their devastating effects on family wealth; Planning is everything.
• Confiscatory policies of governments;
  Governments are usually well-behaved, until they are no longer…
• Inflation and devaluation; Governments always over-spend, after which inflation and devaluation are the only options to save them.