Swiss Bank Account Inheritance and Assets Succession
Swiss Bank Account Inheritance and Assets SuccessionEnzo Caputo2017-05-20T18:06:17+02:00
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Read how we protected the assets of a wealthy Turkish family involved in an international inheritance case
We protected the interests of a Turkish family living in Istanbul, London and Zurich in an international inheritance case. The Turkish family had assets distributed within banks located in different jurisdictions, including Switzerland and real estate in Monte Carlo, London and Istanbul.
We were successful in de-freezing the bank accounts of the Turkish family after having presented the necessary inheritance certificates, duly translated in English, legalized by a notary public and super-legalized with Apostille to the legal counsel of the banks.
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Dependent on the out-come of our due diligence we advised our client to continue the business relationship with the same bank or proposed trusted external asset managers taking care of the different portfolios of the international Turkish family. To do this correctly it was imperative to arrange personal meeting in Turkey and London.
As a former CEO of the Swiss Association of Asset Managers (SAAM) Enzo Caputo has a vast network of trusted and specialized asset managers who have demonstrated success within difficult market conditions during a long period of time. Independent asset managers are very important in protecting the interests of the clients against the banks. Certain banks are operating in a conflict of interest situation which can damage clients assets. They prefer selling their own products instead of proposing the best product available in the market for the unique benefit of the client.
I doing this, we diversified the involved risks in choosing different jurisdictions and different banks, taking care of the assets of the family.
Within the family we selected certain family members with the right education and background acting as protectors among these different proposed structures, including trusts and underlying companies.
Why is it imperative to appoint an independent international banking lawyer and pay for the advice?
Due to the fact that different parties, such as trustees, the relationship managers within the banks and asset managers, are subject to conflict of interests in advising their clients, it is therefore, imperative for any client, in such situations, to seek an independent lawyer and pay for the received advice.
The banks for example will be pushing their products to maximize their profits and the relationship and asset ma