WEALTH HEALTH CHECK

Are you ready for family transition planning?

Once you have considered the needs of your business it is important to plan for the transfer of your wealth and how it will affect your heirs. Please take the quiz and asses your readiness for your family transition planning.

PERSONAL INFORMATION

Generational Wealth Strategies

A.D. Financial's proprietary service, Generational Wealth Strategies (GWS) is a method of defining criteria for inter-generational transfer in the family constitution.

Our approach provides four options for a dynamic process of ensuring that privileges and benefits from the family wealth are extended in all fairness.

We assist the family in defining eligibility criteria for positions of authority within the family council, as well as on-going financial disbursements or inheritance.

Choose an Assessment to Begin

Family Needs

Each family has unique needs, whether due to complex family dynamics, intricate wealth structures, assets spread across multiple jurisdictions, or the involvement of numerous service providers. It has been our experience that affluent families sometimes find their household affairs onerous, and co-ordination between multiple family stakeholders a difficult task.

At A.D. Family Office, we alleviate the administrative burden of the above mentioned family needs on you and your family. Our comprehensive, interdisciplinary services go beyond expectations, addressing not only the financial but also the safety, emotional, and social needs of your family.

Family Office

How does a Family Office support you and your family?

As the name implies, the Family Office is an office that is set up to provide wealth management solutions to a particular family. A core function of the Family Office is to effectively transfer established wealth across generations while acting as an inter-generational touchstone for the family's collective values and heritage. Depending on the need of the family, its functions can include:

Wealth Structuring

Being the holding company of the family's wealth
Tax and legal services

Assets Administration

Administration of complex wealth profiles
Consolidation of assets with consistent performance management and investment strategies

Assets Management

Managing real estate
Managing the family private jet or yacht
Private equity investments
Managing mergers & acquisitions for the family business

Assets Protection

Via trustees or protectors
Risk management
Insurance solutions

Social

Philanthropic services
Concierge services (travel arrangements)

Are you ready to set up a family office?

Setting up a single-family office?

The A.D. Family Office self-assessment questionnaire is a good place to start if you are considering engaging a family office consultant. The health-check reviews your family's broader financial picture. It will help you assess the degree to which you have a handle on your financial affairs and where you may need some help getting and keeping them in good order for generations.

Are you ready for family transition planning?

Once you have considered the needs of your business it is important to plan for the transfer of your wealth and how it will affect your heirs. Please take the quiz and assess your readiness for your family transition planning.

Asset Protection & Preservation Health Check

1. I have a polygamous family structure, i.e. more than one spouse.*

Yes No

2. I may have squandering heirs.*

Yes No

3. I have offshore assets and do not know how to transfer them home, without physically transferring them.*

Yes No

4. I may have tax liability issues.*

Yes No

5. I may be vulnerable to lawsuits or bankruptcy.*

Yes No

6. I have written a Will but am worried that it may not work.*

Yes No

7. I have many companies with only Shareholders' Agreements but do not have a Corporate Will.*

Yes No

8. I have too many companies and am concerned that they may not fall within the best holding structure.*

Yes No

9. I have messy wealth and am unable to determine its net worth.*

Yes No

10. I run a successful family business and am interested in exit and cashing out strategies.*

Yes No

11. I have non-Muslim and Muslim business partners.*

Yes No

12. I have many proxies / nominees in other companies.*

Yes No

13. I am a Muslim convert and am interested to know the implications of my religious conversion to my estate.*

Yes No

14. It is not easy to identify my successor to hand my family business over to.*

Yes No

15. I am interested in strategies for passing down my wealth to the next generation (Generational Wealth Strategy).*

Yes No

16. I have other complexities that create anxiety in my life.*

Yes No

Readiness Protection & Preservation Health Check

Organization, Financials and Operations

1. Our family wealth and business holdings are structured to withstand contingencies and ensure preservation across generations.*

Yes No

2. We can easily quantify our family's long-term goals for protecting & preserving our wealth through the generations.*

Yes No

3. We can easily quantify our family's long-term goals but are unsure whether our children can comprehend them.*

Yes No

4. Our personal financial situation is straightforward, and we enjoy managing it. However, we are unsure when to start centralizing our wealth for ownership succession.*

Yes No

5. We have a robust record-keeping system that provides clear analysis of our readiness for wealth contingencies. However, accessing the information depends on our personal assistant or the family business CFO.*

Yes No

6. We have a family council that meets regularly to manage the family affairs and Readiness. We are assured of harmony and unity through the generations.*

Yes No

Family Issues

1. My family has frequent, open, healthy dialogue about family affairs, money and financial issues. That said, I want to safeguard my children from disharmony and disunity arising from my in-laws' influence..*

Yes No

2. My spouse and children can smoothly take over my business in event that something untoward happens to me.*

Yes No

3. We have ringfenced our family wealth from being implicated should any of our children go through a divorce or lawsuit.*

Yes No

4. This question is for families with members who have either citizenship or residency status in the US, UK, or Australia. I understand the tax and compliance risks facing our family and have addressed them.

Yes No

5. We are aware how important harmony and unity are for wealth preservation. The relationships between siblings in our family, as well as between in-laws, have been good.*

Yes No

6. We are aware that wealth often does not last beyond the 3rd generation. That said, we have yet to formalize precautions as we are confident our descendants will not be tempted by greed or fear.*

Yes No

Estate & Succession Planning

1. We acknowledge the advantages of setting up our own family wealth preservation vehicle (family trust or private family foundation, "FWPV"). We understand which type of FWPV is best suited for our family and our future generations.*

Yes No

2. We understand the importance of pruning the family tree to manage the number of key stakeholders to the family wealth.*

Yes No

3. I have a clear idea of my estate plan objectives, how much my heirs will receive and when.*

Yes No

4. I am comfortable with the amounts my heirs will receive, assuming that my estate is not impinged by unforeseen events (such as liabilities from director's guarantee, or children and in-laws contesting my Will.)*

Yes No

5. My will has been updated in the past three years. I have properly executed powers of attorney for financial and health care purposes.*

Yes No

6. Our children are financially well-educated and sufficiently responsible to inherit the Readiness we intend to leave them.*

Yes No

7. Our children will be able to protect and preserve our legacy for our future generations.*

Yes No

8. I understand all my insurance policies and am confident that they are appropriate and up to date.*

Yes No

9. I am aware that offshore insurance policies may offer significant savings.*

Yes No

Tax Planning & Structuring

1. I am fully aware of the tax implication for my family wealth restructuring and know how to legally mitigate my tax liabilities.*

Yes No

2. We understand the various types of onshore and offshore family trusts, and which one is suitable for our family.*

Yes No

3. Our wealth holding structure optimizes our tax liabilities.*

Yes No

4. We are taking advantage of all the tax efficiencies available to us.*

Yes No

5. We have fully optimized the tax location of our investment assets.*

Yes No

6. We have contingency plans to minimize the impact of inheritance tax should the law be passed in jurisdictions where our family assets are held.*

Yes No

7. Answer this question if your family owns US, UK, or Australian assets. We fully understand the tax implications of the US, UK, Australia assets that we own, and have planned accordingly

Yes No

Investments

1. I know what rate of return is needed from the family's investments to ensure that it meets our objectives over the long term.*

Yes No

2. We have an investment policy in place that optimizes the risk return profile of our family's financial investments.*

Yes No

3. We have an investment policy statement (IPS) for our overall investment portfolio that clearly lays out its objectives, limitations, review process and accountability structure.*

Yes No

4. We have an investment committee to provide direction for our family wealth and manage financial services providers.*

Yes No

5. Our investment portfolios have been objectively reviewed recently and rebalanced accordingly to the family's IPS.*

Yes No

Risk Management

1. We do not limit our investment exposure to one dominant asset class.*

Yes No

2. We have a regular, consistent review process in place to evaluate the success of our investments against relevant benchmarks.*

Yes No

3. I understand the tax implications of transferring my offshore assets home. My heirs understand the tax implications of transferring my offshore estate to their home country.*

Yes No

4. My heirs are aware of my director guarantees, as well as the liabilities my estate may be exposed to due to my director guarantees.*

Yes No

5. Family conflicts may arise among my children and their spouses in the event of my death.*

Yes No

6. We have many nominees in the family business, holding shares and assets on our behalf. Some are Muslim nominees.*

Yes No

Cash Flow Management

1. I know exactly how much capital I will need to maintain my family's current standard of living.*

Yes No

2. I know what my family expenses are and feel confident that they are manageable over the long term.*

Yes No

3. I have a game plan in place to prepare for a liquidity event, such as my retirement, a business sale, receiving my deferred compensation or cashing in my shares or partnership interests.*

Yes No

4. Answer this question if most of your family investments are in real property and they are rented out: I am aware of the difficulty in liquidating real property during an economic downturn.

Yes No

5. Our family's investment income sufficiently covers our expenses should the family business go through a severe downturn.*

Yes No

6. We have a family constitution that details how to provide for our descendants' living expenses, medical and educational needs.*

Yes No

Advisers

1. My family has a knowledgeable objective advisor for all the above mentioned issues.*

Yes No

2. Our advisor proactively anticipates issues that may arise from wealth complexities.*

Yes No

3. We have clarity on the fees that we pay to all our advisors and understand the value of their services on our family's net worth.*

Yes No

4. I prefer a one-stop family advisor that integrates solutions for the above mentioned family needs.*

Yes No

Are you ready for family transition planning?

1. Our family has a mission statement that spells out the overall purpose of our wealth.*

Yes No

2. The entire family participates in most important decisions, such as defining a mission for our wealth.*

Yes No

3. All family heirs have the option of participating in the management of the family's assets.*

Yes No

4. My heirs understand their future roles, have “bought into” those roles, and look forward to performing in those roles.*

Yes No

5. My heirs have reviewed the family's estate plans and documents.*

Yes No

6. Our current wills, trusts, and other documents make most asset distributions based upon the Transition of our heirs, not their age.*

Yes No

7. Our family mission includes creating incentives and opportunities for our heirs.*

Yes No

8. Our younger children are encouraged to participate in our family philanthropic grant-making decisions.*

Yes No

9. Our family considers family unity to be just as important as family financial strength.*

Yes No

10. We communicate well throughout our family and regularly meet as a family to discuss issues and changes.*

Yes No

Submitting...

Next Assessment

WEALTH HEALTH CHECK

Are you ready for family transition planning?

PERSONAL INFORMATION

Generational Wealth Strategies

Your Details

Choose an Assessment to Begin

Family Needs

Family Office

How does a Family Office support you and your family?

Are you ready to set up a family office?

Are you ready for family transition planning?

Asset Protection & Preservation Health Check

Readiness Protection & Preservation Health Check

Organization, Financials and Operations

Family Issues

Estate & Succession Planning

Tax Planning & Structuring

Investments

Risk Management

Cash Flow Management

Advisers

Are you ready for family transition planning?

Question

Private Consultation