Wealth management is always an important topic. It encompasses a number of essential sub-topics that can help people protect and manage their assets properly. Luckily, there are companies like Ora Partners Limited, Morgan Stanley, and Fidelity Investments that can help interested parties learn more about wealth management.

Today, readers can learn more about two important wealth management topics.

Estate Planning


When it comes to estate planning, it is imperative to understand the consequences of not having an estate plan.


People have to be sure and make sure that they are keenly aware of the turn of events that ensue upon their death, should it come without them having an estate plan. There are legally triggered outcomes that happen when a person passes away, especially regarding the assets they own and whom or where this will be turned over. It means they might or might not agree with where their assets are headed. That said, the good thing about being alive to create an estate plan is to exercise control even in their death.

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Now, if a person has a good and clear idea of what they want to happen after they die, it’s time to write down the estate plan. Here, people have to account for everything that they own, and they need to decide where each of these items should go and to whom.


The essence of an estate plan is that it is played out in such a way that people want it to. It is created in the specifics of their will and the various accounts they hold, so it needs to be as detailed as it can be.


Estate plans have helped people keep orderly documentation, which has helped them act on things early. For instance, if they don’t want any particular individual to inherit one of their promising businesses, they might decide that it’s better to sell it off to their stockholders. As long as people live, an estate plan is something that they have the chance to go back to and rewrite to improve as they see fit.

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Offshore Accounts


Opening offshore accounts is part of a process called “offshore banking.” Offshore banking, or what is sometimes referred to as cross-border planning, has been a common and completely legal technique used for a long time by compliant and law-abiding people and businesses to protect a lot of their hard-earned investments and assets.


This type of banking is also referred to as “offshore planning.” The objective of this planning is to protect wealth as well as business holdings and to shield and maintain an inheritance, retirement savings, or even emergency funds.


Opening offshore accounts is a very legal strategy that has been used by investors such as high net-worth families to protect their wealth for centuries. Owners of these offshore accounts, their lawyers, and wealth managers accomplish all this by diversifying their investment portfolios and diversifying the jurisdictions where their wealth, assets, and investments are held. Jurisdictional diversification is vital in today’s geopolitical climate.

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People have to know that working with a custodial bank that is not located in the U.S. is unlike a lot of investment firms in the U.S. Here, the depositor funds are not permitted and included as part of said bank’s balance sheet. It gives investors peace of mind because it means the investment funds are not regarded or recognized as the bank’s assets.

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