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Almost four-fifths of the world’s ultra-high net worth individuals own two or more properties and more than half of them own three or more residences.*
Cara Mancini is a former top executive of a large multinational firm, whose personal wealth is in excess of $100 million. Her complex holdings include illiquid and unique assets.
She has decided to buy a 250-acre ranch in Wyoming to create a family compound, so her banker introduces her to a real estate colleague with expertise in one-of-a-kind properties.
Taking into consideration Mrs Mancini’s overall financial management strategy, we then tailor the financing of her purchase.
Our wealth planners work with Mrs. Mancini, her attorney and her tax advisor to create an appropriate structure to hold the ranch, incorporating her stipulation that Citi trustees will administer the ranch once she can no longer do so.
Given the overall complexity of her holdings, Mrs Mancini decides to appoint Citi Trust as executor of her estate, so as to spare her family the burden of estate settlement later on.
*The Global Luxury Residential Real Estate Report 2015, Wealth-X; Sotheby’s International Realty
All persons mentioned on this page are fictional and were created for illustrative purposes only. Any resemblance to real persons is a coincidence and unintended.This scenario is hypothetical and for illustrative purposes only. It does not take into account the investment objectives, risk profile or financial situation of any particular person and as such, strategies may not be suitable for all investors. Nothing on this page is intended to be an offer to purchase or sell, or a solicitation of an offer to purchase or sell, any security.No inference should be drawn that any investment product or strategy referred to was actually implemented on behalf of a client, or if it was, that it was successful.
Investments in securities involve risks and may lose value. Investment products are not deposits or other obligations of, or guaranteed by, Citibank, its affiliates or any other depository institution. Investment products are not insured or guaranteed by the U.S. Government, the Federal Deposit Insurance Corporation or any other government agency and may lose value.
The information contained is not intended to be an exhaustive discussion of the strategies or concepts mentioned herein or tax or legal advice. Neither Citigroup nor any of its affiliates provides tax or legal advice. You should obtain advice based on your own individual circumstances from your tax, financial, legal and other advisors about the risks and merits of any strategy before making an investment decision, and only make such decisions on the basis of your own objectives, experience, risk profile and resources.