Nairobi, April 22 -- In the realm of family wealth preservation, there exists an ancient Chinese proverb which posits that family wealth seldom persists beyond three generations. According to this adage, the initial generation builds wealth, the second safeguards it, and the third, having had no hand in its creation, tends to dissipate it. It might be reasonable to conclude that, in many instances, wealth may not even reach the third generation.

This adage underpins the creation of family trusts - structures designed to manage and safeguard assets for the purpose of ensuring wealth continuity and the seamless passage of wealth through generations.

In simple terms, a trust exists when a person (settlor) transfers control of property to a...