UAE Urges Families to Plan Succession, With $1 Trillion at Stake

The United Arab Emirates is stepping up efforts to formalize succession planning among its wealthiest families, moves aimed at avoiding conflicts and economic disruption when control passes on to the next generation.

Officials from the country’s economy ministry recently met with heads of prominent business families to encourage them to establish formal structures around their wealth, according to people familiar with the matter.

The discussions centered around the potential creation of family offices to better manage generational transitions and a renewed effort to encourage local listings, the people said, declining to be identified as the information is confidential.

Family-owned businesses ...