Succession Planning
Succession planning is about retaining family wealth through generations. As a specialist fiduciary structuring and administration services provider, Trustcorp understands the importance of such planning for long-term family financial provision.
Combining international experience with specific expertise, we have built a strong reputation for reassuring clients that their wealth, generated over time and with considerable effort, is protected and nurtured for future generations.
Our aim is to give you, as the current wealth owner, greater control over asset management and devolution. We achieve this by establishing a structure during your lifetime that addresses the issues of future ownership and the management of assets/businesses.
To achieve the orderly passing of family wealth from one generation to the next, we use fiduciary vehicles such as trusts, foundations, companies and partnerships in order to:
- Provide a mechanism to control the management and distribution of assets in the event of the principal wealth owner's incapacity or death
- Mitigate tax: protect individuals/assets from taxation liability
- Avoid the need to obtain grants of probate or letters of administration on death and the payment of any associated taxes
- Protect assets from third-party claims
- Promote confidentiality: legitimate screening of wealth or particular asset ownership
- Allocate and distribute wealth for charitable purposes
- Manage assets: professional and responsible management of family wealth for the benefit of present and future generations
For further information on Trustcorp's Succession Planning Services please contact us to request our Guide to Succession Planning. We also have a Guide specifically tailored for our Muslim clients.