- Client: Family based in West Asia
- Assets: Residential and commercial property, plus investment assets
- Requirement: Legacy planning and asset protection
- Solution: Middle Eastern Foundation
Enness was approached by a family based in West Asia who were seeking a suitable structure for legacy planning and asset protection. The family had accumulated substantial wealth over time, with a significant proportion held across property and investment assets.
The family’s property portfolio included both residential and commercial assets across the region. With the exception of their primary residence, the properties were used to generate rental income. They had also made a number of successful investments in the stock market, resulting in a diversified pool of accumulated wealth.
The family wanted to consider how their assets could be consolidated and structured in a way that supported their longer-term objectives. In particular, they were looking for a solution that could address three key requirements: asset consolidation, legacy planning and asset protection.
After discussing the available options and understanding the family’s objectives, Enness proposed a Middle Eastern Foundation as a potential wealth structuring solution. Foundations have become increasingly relevant for regional wealth structuring and inter-generational planning, particularly where families want to establish a clear framework for the ownership and management of accumulated assets.
The proposed Foundation structure incorporated the roles of Founder, Guardian, Council and Ultimate Beneficiary Owners. This framework aligned with the family’s requirements and provided a central structure through which their various assets could be managed.
By consolidating the relevant assets within the Foundation, the family could establish a framework for long-term wealth management and succession planning. The structure was also designed to separate the assets legally from the Founder, providing the asset protection characteristics that the family was seeking, subject to the applicable laws and the specific structure implemented.
The Foundation therefore provided a framework addressing the family’s three primary objectives: bringing assets together under a coherent structure, supporting inter-generational legacy planning and creating an additional layer of asset protection.
This case demonstrates the importance of taking a holistic approach to wealth structuring for high-net-worth families. The appropriate structure will depend on the family’s assets, jurisdictions, objectives and individual circumstances, and specialist legal and tax advice should always be obtained before establishing a structure.
Enness works with specialist partners to help high-net-worth individuals and families explore bespoke wealth structuring solutions. If you are considering legacy planning or asset protection, speak to a mortgage specialist to discuss your circumstances.
Disclaimer:
This case study is for illustrative purposes only and does not constitute financial, legal or tax advice. Enness does not provide legal or tax advice. Wealth structures, foundations and asset protection arrangements are subject to the laws of the relevant jurisdictions and should be established only following advice from appropriately qualified independent professionals. The suitability, effectiveness and tax treatment of any structure will depend on individual circumstances.
Information contained in our case studies is for market and illustrative purposes only. In some cases, these may be made up of multiple cases and are for illustrative purposes only.
Some case studies are made up of enquiries that have come into the business, not all business completes, and the posting of a case study does not represent a completed piece of business.
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