Increasingly wealthy families wish to establish a dedicated office of hand-picked professionals to support the management and administration of the structures which hold the family’s assets.
We have experience of establishing such arrangements including in relation to the regulatory and operational issues to be considered. We can also advise on all aspects of the structures which are administered by the family office including the use of private trustee entities where members of the family or trusted advisers can sit on the board of the trustee.
We also assist with the preparation of family constitutions and governance documentation which explain the objectives of the family in respect of their wealth and how and when the wealth is to be used. Such documents encourage consensus and limit dispute about how family wealth is managed in the longer term, particularly in large multi-generational families.