Succession Planning
Family Succession Planning
Family businesses are at the heart of the business community in the UAE and other countries, playing a significant part in driving the economy. Yet, there continues to be a hurdle in the transition of Family Businesses through the generations.
Planning and adopting appropriate governance and complying with different International Tax Jurisdictions is essential in helping Family Businesses prosper and thrive through those transitions, preserve wealth within the family and avoid disagreement and confusion. For a Family Business to endure, its management and control must inevitably pass from one generation to the next with a hassle-free process in place.
Planning and adopting appropriate governance and complying with different International Tax Jurisdictions is essential in helping Family Businesses prosper and thrive through those transitions, preserve wealth within the family and avoid disagreement and confusion. For a Family Business to endure, its management and control must inevitably pass from one generation to the next with a hassle-free process in place.
We at FAME Advisory assists in
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A variety of services, including Wealth Management and Preservation, Family Succession Planning, Asset Protection, and for Public Interest Purposes(excluding charities).
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Developing suitable family asset holding structure such as a Family Office based on the review of existing Family Structures and Operations
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Succession Planning with use of effective tools like Trust and Foundation (using ADGM / RAKICC / DIFC regimes) for devising strategies to efficiently transfer a Family Asset from one generation to another
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Asset Protection ensures firewall provisions designed to assist in protecting the rights of beneficiaries and preserve the Foundation’s assets from Bankruptcy claims, claims in the event of divorce, and from the effect of forced heirship rules by us by using ADGM / RAKICC / DIFC Foundation regime.
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Suggesting suitable wills for non-Muslims made under the jurisdiction of the Dubai International Financial Centre (DIFC), Abu Dhabi Global Market (ADGM); and also, Power of Attorney for expatriate nationals effective under local and regional legal systems.
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Providing overall strategic inputs on financial management & compliance to reduce and manage legal risks and exposures
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Advising suitable structures from GCC, USA, Indian, and UK tax requirements and balancing the disclosure and tax incidence on properties and income streams within the existing structures of the family business
Protect your legacy and secure your next generation’s future with end-to-end family estate planning.
Contact us today to schedule a consultation and learn more about protecting your family’s wealth and ensuring a smooth transition of assets between generations.
Recent Work and Case Studies
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