The "deepest global recession since the Second World War": the daily headlines on global economic doom, trade wars, market crashes and recoveries since Coronavirus took hold are endless and make for sobering reading, but for those with assets in abundance, does a market crash and lower asset values provide an opportunity for estate planning measures which in times of bull market and economic highs would be inconceivable due to prohibitively high tax costs?

For many UHNWs a key aim is to transfer wealth to children and grandchildren in a tax efficient and strategic way; to protect their own lifestyles and also those of future gene...