Secure Your Family Wealth and Enjoy Tax Benefits

Setting up a properly structured family trust in the UAE offers numerous legal and tax benefits. A family trust tailored to your needs ensures that family wealth is sustainably transferred to future generations according to your vision.

A family trust also provides legal control over the expenditure of funds, protecting vulnerable beneficiaries from overspending, as the assets are legally safeguarded within the trust.

To establish a proper family trust, it’s essential to work with experienced professionals to avoid potential mistakes that could lead to future complications. Smart Business Creation offers comprehensive guidance for setting up family trusts, customized to your specific requirements.

We help you design a structure that legally protects your assets from creditors and litigation. We also focus on minimizing tax exposure through careful planning and strategic management.

Our family trust experts craft tailored trust structures, considering taxation, regulations, and corporate governance dynamics, all while keeping your family’s best interests at heart.

What is a Family Trust?

A family trust is a legal entity established to manage and protect the assets and property of the founder. It ensures that income and assets are distributed to beneficiaries in accordance with the trust deed created by the founder.

A family trust involves three key parties:

• The founder, who owns the assets.
• The trustee, who manages the assets in the trust and distributes them according to the trust deed.
• The beneficiaries, who will receive the assets and income from the trust as directed by the founder.

How to Form a Family Trust

Forming a family trust involves several important steps. Working with professionals is highly recommended to ensure the process is smooth and compliant with UAE regulations:

1. Appoint a Trustee

The first step is to appoint a trustee who remains impartial while managing and distributing the assets. The trustee ensures that the trust operates according to the trust deed and keeps accurate records of all income and assets.

2. Settle Assets into the Trust

The founder must legally transfer assets like cash, shares, bonds, and real estate into the trust. The trustee will then manage these assets.

3. Name the Beneficiaries

The founder should list all beneficiaries who will receive assets and income from the trust. Beneficiaries can be classified as primary or contingent, depending on asset distribution goals.

4. Draft the Trust Deed

The trust deed should include detailed instructions regarding asset distribution, specifying events that will trigger the distribution. It should also include contingency plans for unforeseen situations.

Smart Business Creation’s All-Inclusive Family Trust Services

A well-structured family trust allows you to save on taxes, plan for succession, and secure your assets. It also protects beneficiaries by ensuring a trustee controls funds, preventing overspending.

Smart Business Creation offers tailored family trust services to meet your unique needs. We ensure regulatory compliance, smooth fund transfers, and effective trust management. Additionally, we help you amend the trust structure to adapt to regulatory changes or evolving family needs, maximizing tax benefits while balancing family interests.

Our team of experienced financial advisors provides end-to-end guidance for setting up and managing family trusts, ensuring impartial distribution and safeguarding the assets for future generations.

Interested in Setting Up a Family Trust?
Smart Business Creation is here to help. Connect with our advisors today to ensure a smooth and compliant family trust setup that protects your family’s wealth and interests.