International succession planning: Will, JTWROS and Trust – Which is the best alternative?

When investing through an offshore structure, it is essential to think not only about managing the assets during your lifetime, but also about what will happen to that wealth after the owner passes away.

As we mentioned in our article published on 07/28/2025, succession planning is an essential step that ensures security, cost savings and clarity in the transfer of assets. Among the main tools used in this context are the Will, the Joint Tenancy With Rights of Survivorship (JTWRS) clause and the Trust. Each of these options has specific characteristics, advantages and limitations. Our team helps clients make this decision, and to do so we need to consider the interests and strategies of each family group. Below, we explain how each one works and when its use may be advisable.

Will: a classic instrument, but with international limitations

A will is a legal document through which the owner of assets (the testator) defines how they wish to distribute their wealth after death. It is an important tool for succession planning, as it allows the investor's wishes to be formally recorded.

However, despite its effectiveness, a will does not eliminate the need to open probate proceedings in the country where the offshore company is registered, which makes the process bureaucratic and costly. The process will be conducted according to local legislation, but based on the instructions left in the will.

Joint Tenants with Right of Survivorship (JTWRS): automatic succession among shareholders

The JTWROS (Joint Tenants with Right of Survivorship) clause is comparable to joint ownership of the asset, or co-ownership.

This is an alternative offered by some jurisdictions to facilitate the succession of assets held by multiple owners. When applied to the legal documents of an offshore company, it establishes that all shareholders are considered joint owners of the entire company, without any percentage split.

This means that, upon the death of one of the shareholders, ownership is automatically transferred to the others, with no need for probate abroad. It is a practical solution for structures with multiple owners.

Trust: flexibility and customization in succession planning

A trust is a legal instrument with a purpose similar to a will, but with the benefit of eliminating the need for probate abroad. In it, the investor (Settlor) sets out the instructions on how the shares of their offshore company are to be managed and distributed after their death. These instructions are carried out by a Trustee, which may be a specialized company or someone the Settlor trusts.

A trust allows shares to be distributed to heirs and non-heirs in different proportions. This offers greater flexibility than JTWRS.

Which is the best option? It depends on your profile and goals

There is no single answer or magic formula. Choosing the best tool depends on several factors: the family composition, the investor's goals, the type of asset, the offshore jurisdiction and the level of control desired over the succession process.

Ideally, the investor should know the different options available, understand the pros and cons of each one and count on the support of our team at Astride to make the best decision. Our team usually asks a number of questions in order to map each case individually and suggest the model that makes the most sense for each structure.