Solicitors For Family Offices

Trustees are in a position of trust, and that trust comes with many onerous duties.  As well as ensuring the efficient administration of the Trust, tax and succession issues need to be addressed on a regular basis, and increasingly the compliance and disclosure requirements imposed on Trustees continue to rise.

Acting as a Family Office for a single, or multiple set of, families presents similar challenges to acting as a Trustee.  However, the range of duties required, for example the oversight and management of all of a family’s investments, and the high level of faith placed in the Family Office by the family they serve can make working in such an environment challenging.

The international tax landscape for Trustees and Family Offices continues to change at an ever-increasing rate.  The recent alterations to the taxation of Offshore Trusts in the UK presented Trustees with numerous challenges on how to structure fiduciary structures tax efficiently.  We are experienced in advising on how best to structure new Trust arrangements, and the restructuring of existing structures.

Disclosure has become an increasingly important topic for Trustees and Family Offices.  The imposition of the Common Reporting Standard (CRS) has raised new difficulties in how to ensure the legitimate right to privacy.  We are experienced in advising Trustees and Family Offices in how best to balance privacy desires with CRS requirements.

Looking long term, Fiduciary structures and Family Offices can only ensure the prosperity of the families they serve if succession planning is properly addressed.  We excel in taking the long view on generational change and have helped draft Family Constitutions, and restructured existing Fiduciary structures, to ensure that wealth passes efficiently down the generations.