UAE domestic wealth is expected to pass $ 1 trillion by 2026 according to Gulf News.
24 percent of asset owners do not have a succession plan for personal and investment assets.
This does not reflect an administrative shortfall. This reflects a structural deficit.
According to the news article, which cites research by the DIFC Innovation Hub, Julius Baer, and Euroclear, up to $ 123 billion of regional wealth could remain stuck in probate for over six months.
One solution is a foundation.
A foundation owns assets in its name and is able to reduce reliance on probate through local courts. In addition, a foundation is able to manage the holding of assets including real estate, company shares, and investments across the globe.
This is crucial because succession planning has shifted beyond just a private family matter.
Succession planning impacts liquidity.
Succession planning impacts control.
Succession planning impacts taxation.
Succession planning impacts the continuation of companies under the wealth.
For the owner, this does not mean whether assets exist.
It means ensuring that ownership, control, reporting, and succession are planned prior to stress.
For the CFO and advisers, succession planning is not separate from finance planning. It should form part of the control architecture.
Succession structures are necessary for full balance sheet protection.
Is the family wealth structured, or merely documented?
24 percent of asset owners do not have a succession plan for personal and investment assets.
This does not reflect an administrative shortfall. This reflects a structural deficit.
According to the news article, which cites research by the DIFC Innovation Hub, Julius Baer, and Euroclear, up to $ 123 billion of regional wealth could remain stuck in probate for over six months.
One solution is a foundation.
A foundation owns assets in its name and is able to reduce reliance on probate through local courts. In addition, a foundation is able to manage the holding of assets including real estate, company shares, and investments across the globe.
This is crucial because succession planning has shifted beyond just a private family matter.
Succession planning impacts liquidity.
Succession planning impacts control.
Succession planning impacts taxation.
Succession planning impacts the continuation of companies under the wealth.
For the owner, this does not mean whether assets exist.
It means ensuring that ownership, control, reporting, and succession are planned prior to stress.
For the CFO and advisers, succession planning is not separate from finance planning. It should form part of the control architecture.
Succession structures are necessary for full balance sheet protection.
Is the family wealth structured, or merely documented?