Overview
Succession planning uses instruments such as Will, trust, foundation, and holding companies to help family businesses chart wealth transition objectives.
Questions to consider
- Can your family wealth last more than three generations?
- Do your heirs know how to manage wealth?
- Do you have a succession plan for your spouse and children?
- Could overseas assets be subject to wealth, gift, capital gains, or inheritance tax?
Possible structures
A Family Business Trust can protect and preserve a family business over multiple generations while keeping shareholding within the family.
A Family Foundation is an independent legal entity often used for private wealth management or charitable purposes. It can combine features of a trust and a corporation, commonly established in Labuan.
Next step
The right structure depends on family relationships, assets, liabilities, nominees, beneficiaries, and business interests. A consultation helps confirm which document or trust arrangement is suitable.