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The Great Wealth Transfer: Preparing UAE’s Next-Gen Leaders for Legacy
In the next five years, a quiet but extraordinary shift will reshape the financial landscape of the Gulf. Nearly $1 trillion in assets is expected to change hands across the GCC by 2030, as founding generations begin passing their legacies to their heirs.
In the UAE, this is a lived reality in boardrooms, family councils, and private offices across Dubai and Abu Dhabi. Assets have grown rapidly – high-net-worth individuals in the UAE have seen their holdings rise by 20% since 2022, now valued at $700 billion. The decision of how, when, and to whom this wealth passes is no longer a conversation for “someday.”
For many of these families, this will be the first or second time they have navigated succession. The Gulf’s economic rise came within the lifetime of its founders, meaning the region has fewer multi-generational case studies to draw from. While Western economies offer models of wealth dispersed over centuries, the UAE’s context is different. The pace of change is faster, the cultural and legal frameworks are more complex, and the scale of responsibility is vast.
The Weight of First-Generation Success
The individuals who built much of the region’s wealth did so in an environment of opportunity and volatility. Their identities are deeply intertwined with the enterprises they created. This makes the idea of handing over control a profound personal and cultural moment.
In many families, structures like wills, foundations, or trusts are now in place through regimes such as DIFC or ADGM. These tools can safeguard assets, clarify governance, and provide legal continuity. Yet, the presence of a legal framework does not guarantee readiness. The difference between a smooth transition and a fractured one is rarely the paperwork; it is the preparation of the people.
The Gap Between Governance and Readiness
Succession plans may outline the transfer of equity, define voting rights, or name successors, but they do not always account for whether those successors are capable, confident, or aligned with the family’s vision. Without shared intent, legal structures risk becoming administrative exercises rather than living frameworks.
This risk is compounded in cross-border situations. A Dubai-based family might own property in London, have investments in Singapore, and hold citizenships spanning three continents. Each jurisdiction brings its own inheritance laws, tax regimes, and regulatory timelines. A well-drafted UAE foundation may not prevent forced sales abroad to meet estate obligations.
Liquidity planning, coordinated legal advice, and the ability to make timely decisions are all essential. They rely on people as much as on policy.
A Different Kind of Successor
The next generation stepping into leadership in the UAE is not a replica of the one before it. Many are educated in the world’s leading universities, exposed early to international markets, and adept with digital platforms and data-driven decision-making. They speak the language of ESG, impact investing, and innovation. They also value transparency and collaborative governance, often seeking to align wealth strategies with broader societal goals.
This is a strength, but it can also be a point of friction.
Founders accustomed to centralised control may see this collaborative approach as too diffuse. Heirs may view traditional decision-making as opaque or overly rigid. Without an intentional process to reconcile these perspectives, succession becomes a collision of styles.
Some families are bridging this gap by placing next-gen members on investment committees, involving them in philanthropic decisions, or inviting them to shadow senior leadership. These experiences build the instincts and relationships that will underpin effective stewardship.
Merging Tradition and Modernity
In the UAE, legacy planning cannot be lifted wholesale from another jurisdiction. It must be shaped around the family’s values, while accommodating the realities of a globalised balance sheet.
For some, this means integrating Sharia-compliant structures into a broader cross-border plan. For others, it involves using foundations or trusts to protect assets, while maintaining control mechanisms that reflect the founder’s philosophy.
The most successful transitions are neither purely traditional nor purely modern. They take the discipline of governance from global best practices and anchor it in the cultural context of the family. They preserve the principles that built the wealth while allowing the flexibility to meet the opportunities and risks of the next economy.
The Conversation That Cannot Wait
There is a temptation, especially in closely held families, to delay difficult discussions about succession. Harmony is prized, and mortality is not an easy subject. Yet the absence of dialogue does not preserve harmony; it can postpone conflict to a time when the stakes are higher and the ability to resolve issues is lower.
Starting the conversation early allows for a phased approach. Responsibility can be transferred gradually, authority shared for a period, and expectations adjusted on both sides. It also gives the next generation space to define their own purpose within the legacy they will inherit.
When heirs see themselves as stewards, not just recipients, the chances of continuity—of both wealth and values—increase significantly.
For families beginning this journey, clarity starts with assessment. Our Next-Gen Readiness Checklist is designed to help identify strengths, gaps, and priorities. It offers a framework for private, structured dialogue between generations. Download it or arrange a confidential consultation with our advisory team to begin shaping a legacy that lasts.
In the UAE, legacy planning cannot be lifted wholesale from another jurisdiction. It must be shaped around the family’s values, while accommodating the realities of a globalised balance sheet.
For some, this means integrating Sharia-compliant structures into a broader cross-border plan. For others, it involves using foundations or trusts to protect assets, while maintaining control mechanisms that reflect the founder’s philosophy.
The most successful transitions are neither purely traditional nor purely modern. They take the discipline of governance from global best practices and anchor it in the cultural context of the family. They preserve the principles that built the wealth while allowing the flexibility to meet the opportunities and risks of the next economy.
The future of wealth management lies in a hybrid model, where AI and human expertise work in tandem to deliver superior outcomes. AI tools serve as an extension of the advisor’s capabilities, enabling them to focus on high-value tasks while automating repetitive ones. We will increasingly see a new pattern over the next decade, where an advisor might use AI to identify trends in a client’s portfolio but rely on their own judgment to tailor the recommendations to align with the client’s broader life goals.
As firms adopt AI-driven platforms, they must do so with a clear understanding of their strengths and limitations. Investors, too, should be cautious not to rely solely on technology.