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  • nklaw

What is a family office?

Updated: Aug 29, 2019

A Family Office is a holistic solution to address governance and management oversight to maximize family wealth and opportunities for future generations.

Why is it important?

Families can address and prevent conflict by introducing strong governance and can use a family board or council to help resolve conflicts and maintain family cohesion.

Transparency, reporting, oversight and stewardship means ownership in the family office operates like any other company – but is also intended to benefit future generations while maintaining the head of the family’s goals and ambitions.

How can we help?

A trusted qualified independent third party and/or members on a board of directors can look after the family’s interests to ensure that the family plan or constitution is followed.

Managers are subject to a high fiduciary standard – and will look after everyone’s interests. Families require a seasoned professional who can work with large institutions, external advisers to introduce the governance necessary to make the family office function. The family office alternative can be explored concurrently with other objectives.

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