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  • Jérome Bloch

Bérengère Launay (Spuerkeess): Family Matters

For the families having recently settled in Luxembourg or already present for several years, there is a recurrence of questions about asset structuring” says Bérengère Launay, Wealth Planning Expert - Private Banking at Spuerkeess. These inquiries, observed on the local market, have multiplied given Luxembourg’s international environment. Experts within Spuerkeess Private Banking help customers navigate these issues.

An observation about the Luxembourg market

Wealthy families living in Luxembourg are increasingly faced with questions about how to preserve their assets. They have the same questions, whether they own financial assets, real estate, businesses or art!

Family disagreements or misunderstandings between generations can arise concerning the objectives, vision, and medium- and long-term priorities. These aspects have an impact on how the family assets are managed, complicating handovers and intergenerational cohabitation.

For these reasons, families are thus seeking experts to help them best structure the way their assets are held, managed and passed on and to organise the relationships between family members.

In short, they want to structure their wealth sustainably

Wealthy families living in Luxembourg are increasingly faced with questions about how to preserve their assets.

A phenomenon heightened by an international environment

In Luxembourg, the issues families are encountering, generally have an international component. The reasons are varied and include family ties outside of Luxembourg, the mobility of the younger generations, and non-Luxembourg investments.

It can be beneficial to adopt certain practices in order to better master the framework in Luxembourg as well as in countries where the families have ties. This helps to avoid certain pitfalls and can also offer opportunities.

What will the legal and tax treatment be for a particular company or philanthropic structure? What is the applicable law for my marital property regime, for my succession? Do contracts signed before my arrival still remain valid in case I become incapacitated?

There is a risk that, once you have settled in Luxembourg, some of the arrangements you made will no longer be relevant.

What are some potential solutions?

Solutions need to address legal and tax issues, as well as psychological and sociological aspects. Experts in many fields need to join forces to cover such a wide array of topics!

From a legal standpoint, family property law and corporate law are two pillars for dealing with these subjects, but private international law and tax law also need to be considered.

At the sociological and psychological levels, advisors focused on providing family support are invaluable allies who deploy their own tools to establish a proper family governance.

Copyright: D.R.

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