“Family Wars - lessons to be learned from conflicts” The Royal Gazette covers Nick Jacob’s STEP seminar

Private Client Partner, Nick Jacob, was invited to present a session at the recent STEP Bermuda Conference 2023. His session, entitled ‘Family Wars - lessons to be learned from conflicts’ has since been covered in an article by The Royal Gazette.

“No matter how big your business empire, or how tight your grip on it, you need a will and a succession plan. This was the sage advice from Nick Jacob” writes the editor.

The article highlights Nick’s top tips to avoid family conflict:

• Facing up to potential conflict issues before they become real conflicts is absolutely critical.
• Getting everybody in the family to buy in to the structuring and to understand why it has been set up is important.
• Trust professionals must ensure that the structures they set up are not too complicated to understand.
• Advisors need to think about whether what we are advising is right for the client. Are the structures going to work for that family, and are they dynamic enough to change in the future?

The full article can be read here.