Succession and Estate Planning | Harris Fraser

Succession and Estate Planning

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Harris Fraser offers a broad range of estate and succession planning solutions.

Estate planning is about more than the tax bill that you may leave behind, it can involve various assets in different countries. Due to these complexities, administration of an estate is often a long process that can take an individual month, or even years, to deal with. Harris Fraser’s team of professionals help clients fulfill the needs of their families and structure their worldwide assets to protect their wealth and interests for future generations.

Harris Fraser Succession and Estate Planning

We can help you minimise your tax

Tax planning

  • If you are emigrating or planning an extended holiday overseas, Harris Fraser can assist you in making the transition hassle free.
  • We can also assist you to minimise tax for an effective estate plan.
  • We can help you cut back on tax. Some examples below.
Business Expenses

Gifts to customers and expenditures like the cost of sending customers holiday cards are deductible in most countries against business or self-employed income. If you’re self-employed, the expense comes out of your income from self-employment.

Mortgage Interest Expense

Homeowners and rental property owners in some countries can fully deduct interest paid on home mortgage loans against their total income or rental income respectively.

College / Education

You can earn a tax break if you are taking classes for your career. Your expenses are deductible as an itemized deduction. This deduction, however, is limited to the amount of your qualified education expenses, subject to different tax rules in different countries.

Medical Expenses

In many countries like the US, you can deduct allowable medical expenses. If you and your spouse file separate returns, you can claim expenses you paid for your spouse if you were married either when your spouse received the medical services or when you paid the expenses. Of course, if you file a joint return for a tax year, any expenses paid by either of you that year would be deductible.

Income Averaging

You can have significant tax savings by averaging your income. If you know your income will be lower next year, you could arrange your fiscal year-end bonus to be paid after the start of the new fiscal year. Consider postponing the sale of your investments until next year, or offset the gain with a loss from the sale of other investments. These methods can save you from the high cost of paying tax at the next higher marginal rate. Harris Fraser offers access to tax professionals for most major jurisdictions.

Harris Fraser offers access to tax professionals for most major jurisdictions.

What sets us apart?
Since 1990, Harris Fraser Group has been providing trusted advisory services and wealth management solutions. Since then, Harris Fraser has expanded its network across Asia, working with hundreds of investment professionals and services across the continent.
Our values
Overview of Trusts

The main benefits of using a trust in your wealth planning

  • Privacy

    Trust law provides for the strictest confidentiality and fiduciary duties of the trustee. There are no “registers of members” etc. and the use of discretionary classes of beneficiaries can provide.

  • Family Wealth Planning

    Trusts can be used to ensure that the assets accumulated by current generations are distributed appropriately to future generations.

  • Tax Minimisation

    Trusts are more flexible than corporations and thereby trust structures generally provide enhanced opportunities for structuring to achieve legitimate tax advantages and faster wealth accumulation.

  • Asset Protection

    Trusts can protect family assets from the claims of possible creditors.

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