“It’s a rather sad statistic that divorce rates are increasing around the world, and relationship experts warn ‘the pandemic-induced break-up curve may not have peaked yet” stated an article by the BBC in December 2020. A less than heart-warming prospect this Valentines Day.
Financial matters will be far from a couple’s minds when they get married but very likely to be at the forefront when they get divorced, especially when dealing with high-net-worth individuals. At VG, we are well versed in working with settlors and their professional advisors on the establishment of a variety of multi-generational wealth planning structures and, while not necessarily in the romantic spirit of marriage, from experience find it is better to plan in advance and ensure that suitable structures, such as a Jersey Trust, are put in place at the most sensible of times, which could include before embarking on marriage.