SECTION 1

Overview

The preservation of the family and business legacy may take on many forms, for example, ensuring intergenerational wealth and business transfers, have their own unique challenges and opportunities, like the uniqueness of each family and industry that they operate in.

Creating a successful governance plan demands different skills, and the advisors and families must work in tandem. The importance of a family’s philanthropic strategies embodies their value system, which is a strong driving force behind intergenerational planning.

Understanding the advisors’ own personal relationship with wealth and our coaching skills and gaps, helps us unpack better solutions for families and businesses. It is important to embrace different approaches and outcomes, that are not purely driven by technical discussions. The retention of a human connection is key to driving the values of the families and the advisors forward.

Industry professionals who can help deploy structures that are sustainable and efficient will help define the legacy plan. Critical to success is also to stay ahead of the pack by understanding that wealth means different things to different people. Finding ways to help families reach their goals requires a different set of skills, that are wider than pure technical capabilities. By embracing new ways of doing things, the families will reach different levels of success.

Family philanthropy as well as family wealth conversations will provide effective tools to the younger generations to step into the roles of stewards of wealth, and advisors with a wider outlook will gain greater insights into the wealth conversations of their clients.

This webinar focuses on critical considerations and challenges individuals and families face when relocating from South Africa to the United States. Attendees will gain valuable insights into pre-immigration planning, tax implications, and advisory services necessary for a successful transition. The event aims to equip advisors with the knowledge needed to guide clients effectively through this life-changing journey.

• Crossing over from South Africa to the United States of America, where dreams awaken reality, Richard Rubin and Tanya Kramer

Richard and Tanya are set to co-present a session highlighting the significance of proactive pre-immigration planning for individuals relocating from South Africa to the United States. The duo will showcase two distinct case studies, one involving a client who engaged in pre-immigration planning and another who did not. They will delve into an examination of the tax implications in both cases, including US tax compliance and reporting considerations. Additionally, the presentation will touch on current trends in IRS audit practices, with an emphasis on international reporting and the associated penalties.

• Global Citizens | Advising clients in the USA, Sheldon Halcrow

Many families who have relocated to the USA continue to bear tax compliance responsibilities in South Africa, all the while navigating their status as US residents subject to taxation. This situation can be tricky and requires the expertise of advisors well-versed in double taxation treaties, as well as tax obligations in both countries. These families benefit from an advisory service capable of satisfying regulatory prerequisites in both South Africa and the USA, alongside a comprehensive wealth advisory and asset management service equipped to handle global portfolio management spanning two key jurisdictions.

This presentation is designed to provide advisors with a summary of some of the key challenges and considerations and will cover the following:

• A short review of several important definitions including passport, visa, residency, citizenship, and nationality.
• A high-level summary of migration trends of high-net-worth individuals
• The various routes for entering the United States.
• Insight into some of the considerations for families planning on living and working in the United States including tax, trust structures, wills, medical, insurance and banking.

SECTION 2

Overview

Wealth preservation – The “human” side!

'If you're going to live, leave a legacy. Make a mark on the world that can't be erased.”-Maya Angelou.’

While wealth planning is predominantly centered around strategy, tax planning, and preserving a family’s financial well-being, we often forget the human component of leaving a legacy.

Incorporating philanthropy into family wealth planning requires careful consideration and collaboration among family members. Philanthropic advisors and family wealth mentors can help families develop effective strategies that align with future generations’ goals and values.

Join us for something a bit different to the usual technical webinars we offer, where our experts in the field will cover the following topics:

• Are we caught in a complex web of misunderstandings, projections, expectations, and judgements, that captures true wealth?, David Bell & Diana Chambers
• Unlocking lasting impact: Goals and strategy, the cornerstones of philanthropy, Madeleine Schubert
• Discover how to secure more lifelong clients as a trusted advisor, Melissa Duffy

Competencies developed in this webinar

• Gain an understanding of potential means to give back to society.
• Insights into how a family wealth mentor can guide you.
• Learn how to incorporate humanitarian advice while setting up tax structures.

Presenters

Richard Rubin
Richard is a qualified South African attorney with a decade of experience at Arthur Andersen, specialising in South African tax law before relocating to the US. He is now based in Atlanta, Georgia, focusing on US Cross-border tax matters.

Tanya Kramer
The principal of THK Consulting, she is an international tax advisor with a diverse background in managing assets for clients across multiple continents. Inspired by a successful transition to the U.S., she leads THK Consulting from Miami, maintaining strong ties to South Africa and staying actively engaged with clients and the Johannesburg community.

Sheldon Halcrow
Sheldon is a seasoned Wealth Manager with over 20 years’ experience providing comprehensive wealth and asset management services to high-net-worth South African families.

David Bell

David Bell is a former wealth planner and Chartered Accountant.  During his 10+ years in the industry, he worked with Dixon Wilson, Merrill Lynch and Lombard Odier.  Since 2016, he has run an international private wealth network, PCD Club.  He uses his professional knowledge and industry contacts to moderate and host content with leading firms in the sector.

Diana Chambers

Diana founded The Chambers Group LLC in 2002 in the USA, with The Chambers Group Sàrl, founded in 2014 in Switzerland, being a continuation of her practice working with significantly wealthy families. Diana helps them to prepare for challenging situations and family transitions, develop as leaders, plan for their legacies, and enjoy their roles as philanthropists and social leaders.

Madeleine Schubert

Madeleine has gained in-depth knowledge over the last 25 years working for several international auditing firms such as Deloitte, Ernest Young, KPMG, as well as Shepstone & Wylie Attorneys, Citadel Investment Services (Pty) and Sentinel International Advisory Services. Madeleine also has lecturing experience teaching Tax to final year CA students.

Her expertise includes international and domestic tax law; corporate law; trust and estate law, being a well-known fiduciary expert; finance; strategy; philanthropy and policies for corporates; shareholders and individuals; structures for corporate, families and estate planning (local and cross boarder multi jurisdiction). Professional qualifications, BProc (cum laude), HdipTax, MCom, Qualified Attorney, designation TEP and Qualified Transformational Business Coach.

Melissa (Mel) Duffy

Mel is a certified life, career and executive coach and helps clients to get clarity, confidence and calm back into their lives and careers. She has local clients based in Johannesburg and Cape Town as well as internationally. She was published in the "Ask the Expert" feature in a UK monthly magazine in December 2022. She co-presented a webinar in January 2023 on "How to build the career of your dreams". She has 20+ years of corporate experience in building and maintaining client relationships.

CPD

By attending this webinar and the successful completion of the online assessment will secure a certificate of completion for 2 hour of Tax CPD.

Event Investment

To attend this event is absolutely free.