It is the responsibility of every individual to undertake thoughtful, prudent and ethical estate planning. However, it is not always easy! The National Conciliation and Arbitration Board, Social Welfare Board and Economic Planning Board have organized a couple of events on the theme of succession, following the announcement in May 2022 of Guidelines for Ethical Wealth Transfer and Inheritance Planning issued by International Conciliation and Arbitration Board, available in various languages.
On Sunday, Jan 15th, our Jamat was thus able to discover, in Argenteuil, three of our talented young lawyers, including a Farsi-speaker. Together, they underscored the importance of undertaking thoughtful, prudent and ethical estate planning.They exposed the variety of tools available to achieve that aim, including donations during one's lifetime, in full ownership, or in dismemberment, that is to say by separating the right of use of a property from its (bare) ownership.
One conclusion emerges : it is necessary to anticipate, to surround oneself with professionals, and to dialogue with one’s family, to design and implement the transfer of one’s wealth. And it is important to review and update this reflection regularly.
This subject of succession is often perceived as taboo and delicate. This is why seeking help may prove extremely valuable.
If need be, the many questions from the audience demonstrated the interest of our jamat on this subject.
Anticipation of one’s loss of autonomy was also addressed, a delicate but necessary subject, given the lengthening of lifespans. Each murid can thus designate his trusted person and take advanced directives on his wishes on the conditions of medical care at the end of one’s life.
A hearty and delicious Persian lunch closed this festive event. This followed the webinar of October 5th, with two French notaries, the session at the Jamat khana in Brussels, on October 28, and the session in Geneva on November 20th, with a Swiss lawyer, both face-to-face and on Zoom.
The Guidelines for Ethical Wealth Transfer and Inheritance Planning issued by International Conciliation and Arbitration Board are available in various languages at https://the.ismaili/cab/guidelines-ethical-wealth-transfer-and-inheritance-planning.
« Facilitators, trained by the Conciliation and Arbitration Board are at your disposal to help you understand these guidelines, their list is available from NCAB ([email protected](link sends e-mail)) and Mukhis and Kamadias . »
And for those who missed the webinar on Oct 5 last year on the topic of succession, featuring two notaries, Me Laurence Torre et Me Ludovic Froment, you will find it HERE.
You may read the slides in French of the above October 5th webinar HERE.