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The super rich in South – East Asia worry more about succession disputes than other regions : Poll. Let me know if you’d like me to try generating some other titles!

This figure is significantly higher than the global average of 20 per cent. The survey, conducted by the wealth management firm, UBS, found that the concerns of HNW clients in Singapore are particularly pronounced. The survey also found that the lack of succession planning is a major concern for HNW clients in other parts of Southeast Asia, including Malaysia, Thailand, and Indonesia. The survey highlights the unique challenges faced by the super rich in Southeast Asia, particularly in the region’s rapidly growing economies. These economies are experiencing rapid growth, but they are also facing challenges such as political instability, corruption, and social inequality.

This finding suggests that while tax optimization is important, it may not be the primary concern for individuals in the region. **Here’s a breakdown of the findings:**

* **Tax minimization and legal fees:** While important, it’s not the top priority for succession and estate planning in the region. * **Asset preservation:** This is a significant concern, reflecting a desire to protect and safeguard the wealth accumulated over time. * **Smooth asset transition:** This highlights the importance of ensuring a seamless and efficient transfer of assets to beneficiaries. * **Business succession:** This suggests a focus on preserving the legacy and continuity of a business, ensuring its future success.

The summary provided highlights the growing interest in estate planning among individuals, particularly in light of the pandemic and the changing dynamics of wealth transfer. Let’s delve deeper into the key points:

**1. Busy schedules and complexity:** A significant portion of individuals who haven’t engaged in estate planning cite busy schedules and the perceived complexity of the process as primary reasons. This highlights the need for simplified and accessible estate planning tools and resources. **2. Pandemic’s impact:** The COVID-19 pandemic has brought the importance of health issues to the forefront of people’s minds.

* Lawyers are the main source of advice in succession and estate planning. * Fiduciary service providers, such as trust companies, are almost equally preferred. * Trusts and foundations are the most commonly used tools in succession planning. * Wills are also commonly used in succession planning.

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