A family office, properly operated is an important vehicle to ensure protection of substantial personal wealth through the generations, whilst meeting business and philanthropic objectives and safeguarding privacy. Whether a family chooses a single family office or benefits from a multi-family office arrangement depends on multiple factors including costs.
As a regulated entity, a family office will require structuring and planning with regard to tax liabilities, regulatory compliance and employment strategy. Expert legal advice is essential to ensure compliance with financial authorisation and risk management. Staff incentives and remuneration will also need to be managed carefully.
Forsters provides integrated advice from our Private Client, Corporate, Employment, Dispute Resolution and Family teams. We have advised many single and multi-family offices on matters ranging from strategic planning through structuring and set up, governance and risk management, to expansion and mergers.
We advise clients on the creation of trusts, private trust companies, FCA authorised private open ended investment companies, limited partnerships, onshore and offshore corporate vehicles to invest in real estate, private equity, hedge funds and other specialised asset classes.
Our lawyers have extensive experience of cross border structures and work with advisers in other jurisdictions. This approach affords our clients complete understanding of local regulatory, tax and asset protection issues in offshore environments.
Forsters' Private Client practice is top ranked in the latest edition of The Chambers HNW Guide.
In Lexology Getting the Deal Through's Private Client 2021 guide, Forsters' Private Wealth team have outlined the important estate planning issues that international clients need to consider if they wish to invest in or come to the UK.
As we move towards a period of post-lockdown global recovery, many wealthy individuals and families will be looking at how they can use their wealth to contribute to a more sustainable future for the benefit of their own families and others.