Challenges For Family Offices – And Five Reasons To Consider A Restructure

Uncertain times produce challenges for wealth managers and structures, and the last few months have presented both issues and opportunities for Family Offices. This piece by group partner Rajah Abusrewil and associate Kathryn Macken from our Private Capital and Trusts team explores the challenges in turn and looks at the top five reasons to consider a restructure.

A family office ("FO") is a practical means to organise a group of individuals who share the commonality of a familial relationship, but which may also bring together complex and sometimes disparate financial means and objectives. The members of an FO may be geographically spread, short on time and cover multiple generations. As a FO grows in wealth and complexity, or as the needs of the family change, there will come a point when reviewing and restructuring will be incredibly important to ensure the FO's underlying structures continue to serve their purpose and meet the FO's needs. A FO will ideally want