As Kenyan households accumulate wealth through property, businesses and investments, conversations around succession planning are gradually shifting from simply writing wills to creating structures that preserve wealth across generations.
It is a trend that financial services firms are increasingly positioning themselves to tap into, with Britam among the latest to strengthen its offering through dedicated trust fund solutions for individuals and families.
Trust funds, once viewed as solutions reserved for wealthy families, are increasingly becoming part of mainstream financial planning as more Kenyans seek certainty over how their assets will be managed during their lifetime and transferred after their death.
According to Britam Trust Services, a trust enables individuals to decide who benefits from their assets, what the funds should be used for, when support should be provided and how long it should continue, with a professional trustee overseeing the implementation of those wishes.
The company has structured its offering around two products targeting different customer needs. Its Cash Trust is designed for clients who want to set aside money for specific purposes such as education, healthcare, upkeep or other long-term family obligations. Meanwhile, its Family Trust allows clients to place a broader range of assets, including property, businesses, investments and cash, under professional management for future generations.
The timing reflects a broader evolution in Kenya’s wealth management industry, where financial institutions are expanding beyond traditional insurance and investment products into estate planning services.
For many families, succession planning often begins only after tragedy strikes, leaving beneficiaries to navigate lengthy legal processes and, in some cases, disputes over inheritance.
Britam says a living trust offers an alternative by allowing clients to establish the structure while they are still alive, ensuring their financial affairs continue according to predetermined instructions even if they become unable to manage them personally.
Unlike a conventional inheritance process that largely comes into effect after death, a trust can remain active throughout the founder’s lifetime. Clients retain the flexibility to add more funds, change beneficiaries or adjust instructions as family circumstances evolve.
Another feature likely to appeal to investors is the professional management of funds. Britam says assets held in trust are invested with a focus on preserving and growing wealth over the long term, while payments for approved needs such as school fees or medical expenses can be made directly to institutions or service providers.
The proposition comes as Kenya’s affluent and emerging middle class increasingly seek financial products that combine investment management with intergenerational wealth planning.
While wills remain a common estate planning tool, financial planners note they do not necessarily address issues such as legal costs incurred during succession processes, uncertainty in the outcome of wealth distribution which in many cases leads to disputes among families, asset protection from creditors or bankruptcy proceedings, ongoing management of assets, structured financial support for dependents especially minors who would ideally be unprepared to receive wealth passed on to them or continuity should the asset owner become incapacitated.
Britam believes these gaps are creating demand for trust-based solutions that offer greater certainty, predictability in what happens next, flexibility and professional oversight. The company says clients remain in control of their assets while alive, with the trust continuing to operate according to their instructions after death.
As competition in Kenya’s financial services sector increasingly shifts towards holistic wealth management, trust funds could become one of the industry’s next growth frontiers. For Britam, the launch is as much about expanding its product portfolio as it is about responding to changing customer priorities, where protecting a family’s legacy is becoming just as important as creating wealth in the first place.
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