We are at a time of great transition in relation to the private
wealth of international families. What is referred to as the Great
Wealth Transfer will see significant values passing across the
generations over the coming years. For example, it is suggested
that some US$2 trillion will pass away from wealth creators across
the globe in the next 15 years and that, in the countries of the
Gulf Co-operation Council (GCC), somewhere in the region of US$1
trillion will transition over the next decade.
For some families, the wealth is already held within a
structure, and questions might be asked as to whether it continues
to be appropriate or should perhaps be changed or replaced in order
to better suit the needs of the next generation. For other
families, assets will be held directly by the wealth creators, and
consideration might be given to the creation of a structure to
allow for appropriate estate and succession planning.
