

Global uncertainty and instability have been increasing over the last decade, but significant armed conflicts in Ukraine, the Middle East, and Africa, tensions in Asia, unprecedented weather events, and an election super-cycle have converged in 2024 to fuel even greater real and perceived instability. With more 1.5 Billion ballots cast in 73 elections taking place globally in 2024, even in well-established democracies we are seeing political violence, from Mexico’s pre-election assassinations, to the protests in Austria following its September election results, to the overthrow of the government in Bangladesh by student protesters following its elections in January, and, across the world, we are seeing the migration of the economic elite to jurisdictions that are perceived to provide personal security, tax certainty, and stability. In this climate of migration and instability, we as advisors have to be flexible and creative in our planning approaches and thoughtful in how we address our clients’ concerns that stray far beyond taxation.