I recently assisted a Middle Eastern family who were desirous of creating a trust structure to hold their assets situate outside the Middle East. The case perfectly illustrated the tension that can exist when trying to create a structure that will be both valid and robust, but at the same time will contain a number of the control mechanisms that families seek.
This family wished to abide by Sharia law in terms of the proportions the spouse and each child should receive. The patriarch however, wanted to keep his personal and business assets in one structure and not for them to be fragmented on his...