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If you have any questions, or would like to meet us or become a client, please contact our banking advisers who will be happy to respond according to your individual requirements.
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If you have any questions, or would like to meet us or become a client, please contact our banking advisers who will be happy to respond according to your individual requirements.
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There is no set pattern for blended families. There are as many questions as there are situations, and they call for tailored answers. This means that particular care is needed when approaching issues related to wealth management and, in particular, inheritance.
New family structures
As family structures evolve, and large families give way to single-parent and blended families, their needs are also changing. There has been a shift in families’ relationships with money and in how wealth is perceived, used and passed on. Naturally, these trends also have implications for wealth management.
Increasing complexity
Every handover situation is different. This is even more true in blended families. It is important to take the time to plan calmly for handing over real estate or business assets. Individually tailored estate planning, which takes into consideration the concerns and plans of donors, is highly recommended. It is vital to identify all the factors that families will have to take into account, and to consider their impact on the way in which assets will be shared between the couple and across generations. If parents wish to protect the children of a first marriage and/or their new spouse, precautions must to be taken.
Personalised wealth management support
Banque de Luxembourg offers its clients long-term wealth management support to help them deal with life’s ups and downs. Peggy Damgé, Private Banking Adviser, explains, “Our approach is based on listening, discretion and the ability to understand the full picture in any financial situation. We specialise in finding the right solution for each individual situation. We help our clients to deal with unexpected changes by providing personalised answers to the specific questions they ask: How will my marriage contract affect the distribution of my wealth if I remarry? If I die, how can I provide better protection for my spouse? Can I leave my entire estate to the children of my first marriage? Do the children of my first and second marriages have different inheritance rights?”
