Building wealth takes a great deal of time and effort. It’s important to put in place a strategy for passing your wealth to future generations in order to protect value and family legacy.
Jewellery, recipes and watches. All such things that are passed down through generations. Why should your overall wealth and assets be any different?
Fairway works with many prominent families to discuss the preservation and passing on of wealth and assets to the future generation. A large majority of these families are based across the GCC and we assist with the creation and implementation of a clear and all-encompassing succession plan. Many families from civil law jurisdictions look to Jersey to create structures to ensure the smooth transition of wealth.
Forced heirship principles in certain jurisdictions erodes the testamentary freedom afforded to families. Fairway can work with families and their advisers to establish structures that are legally enforceable to own assets for the benefit of future generations.
Our succession planning services include:
Review of family charters and letters of wishes
Shariah scholar advice
Administration services
Asset protection
Consolidation of ownership and control of assets
Compliance support
Financial reporting
Foundation services
It is important to engage in conversations during one’s lifetime so that any strategy is underpinned by three distinct elements:
> Preservation of wealth
> Ongoing protection and enhancement of wealth; and
> Distribution of wealth
Fairway and the administrative team are very responsive, supportive and commercial in their management of our property portfolio. I would happily recommend the Fairway team as specialists in the real estate and administration services field.
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