Trowers & Hamlins

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Private wealth

Private wealth

With five international offices we are renowned for our expertise in advising governments, international investors, regional corporate organisations and multi-national companies.

If Islamic Law applies when you die, your assets will be divided between your heirs entitled under Sharia succession rules. This can make it difficult to keep your family's wealth and business interests united. Using a trust can allow adherence to Islamic law whilst keeping the family's wealth under the control of a trustee who holds it for the benefit of a wide class of family members. Trusts also offer confidentiality and can be a useful defence against third party claims.

Provided the trust is validly constituted and funded during your lifetime the trust assets should be outside the scope of Shari’a succession rules when you die.

We are familiar with the complexities of setting a up trust structures for Middle Eastern clients, and have particular expertise in dealing with foreign ownership restrictions (which apply to a number of Middle Eastern countries). We can also advise on taxation which may be an issue if some of the beneficiaries reside, or the assets are located in taxable jurisdictions such as the UK or the US. We can also advise on putting in place appropriate control mechanisms to enable you to retain certain powers over the trust assets.

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