Key Takeaways
Establishing a family office can be a powerful tool for wealthy families to transfer wealth across generations, but without proper governance, it can lead to conflict and financial instability.
A family office provides centralized wealth management, efficiency, and privacy, but it requires a common purpose and formal governance to safeguard a family’s legacy.
Families must prioritize establishing governance structures to ensure their wealth transfer strategies are successful and their legacy is preserved for generations to come.
By embracing governance in a family office, families can safeguard their legacy and ensure successful wealth transfer strategies for generations to come.
Author
- Emily Neubert
- Director—Family Governance
