Beyond Borders: Why Flexibility Matters More Than Ever in Wealth Planning

Recently, Fairway's Chris Mourant, Associate Director, Private Wealth, joined TL4 for a webinar alongside Leigh-Alexandra Basha of McDermott Will & Schulte, Parisa Karaahmet of Fragomen and Jaime McLemore of Withers.

Throughout the webinar, discussions included how the current US political and tax landscape is influencing where global families choose to live, how they structure wealth, and the decisions they are making about long-term succession. For globally mobile families, wealth planning is about more than preserving assets or reducing tax exposure. It has increasingly become about creating flexibility for future generations.

“So today, people are asking not just what country do I belong to, but where can my family live, work, invest, and thrive"

- Leigh-Alexandra Baha, McDermott Will & Schulte

The US continues to shape global wealth planning

The United States remains at the centre of many of these conversations. As the world's largest private wealth market and a major destination for investment, education and entrepreneurship, US connections are becoming increasingly common for families around the globe.

For many international families, US connections develop gradually over time. Children may attend university in the US, establish careers there or ultimately choose to settle permanently. For families in regions such as the GCC, these connections are becoming increasingly common as wealth, business interests and future generations become more globally mobile. Whilst these decisions are often personal rather than financial, they can have significant implications for existing family wealth structures.

A beneficiary becoming a US person can introduce new tax, reporting and succession considerations for trusts, companies and investments. Structures that worked efficiently for one generation may require review as family circumstances evolve. This is particularly relevant for Middle Eastern families, where US tax considerations often intersect with local succession frameworks and family structures. It is becoming more and more important for families to understand the distinction between Foreign Grantor Trusts and Foreign Non-Grantor Trusts. Changes in residency, family circumstances or generations can create unexpected tax and reporting consequences if structures are not reviewed regularly. 

While much of the discussion focused on international families with US connections, the panel also explored the perspective of US persons looking beyond their domestic market. Geopolitical developments, asset protection considerations and a desire for geographic diversification are encouraging many individuals and families to consider how international structures, investments and jurisdictions can support their long-term objectives. As wealth becomes increasingly global, cross-border planning is no longer solely relevant to non-US families with American connections.

"People are still moving to the U.S... that's the market I need to be in to expand my business. That's where I can generate more wealth."

– Jaime McLemore, Withers

Wealth planning is no longer just about wealth

The discussion also highlighted the growing relationship between wealth planning and mobility. Residency, citizenship and immigration decisions are increasingly being considered alongside succession planning, governance and asset protection. Programmes such as EB-5, and newer initiatives like the proposed Gold Card, demonstrate how mobility is becoming part of the wider wealth planning conversation. For many families, the goal is not simply access to a particular jurisdiction, but the flexibility to respond to changing opportunities, family circumstances and future generations' needs.

"EB-5 remains a robust and viable way for individuals and their families to obtain permanent residence in the United States."

– Parisa Karaahmet, Fragomen

The panel highlighted the challenges that can arise where different legal systems meet, particularly for families balancing US tax rules with local succession principles, including forced heirship regimes commonly seen across parts of the Middle East.

As families become more internationally connected, wealth planning can no longer be viewed through the lens of a single jurisdiction. Whether families are navigating US connections through education, business interests, investment activity or future generations, or US persons are exploring international opportunities and diversification, taking a proactive and holistic approach can help families prepare for whatever comes next.

While every family's circumstances are different, one theme remained consistent throughout the discussion: the value of flexibility. In an increasingly interconnected world, the most effective wealth structures are often those that provide families with the flexibility to adapt as circumstances, opportunities and future generations shape the path ahead.