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Family Office – Assisting Shareholders

A growing number of second- and later-generation family firms are creating family offices to assist shareholders in their owner duties and responsibilities. Although the services offered vary, family offices can
shoulder primary responsibility for:

  • Joint family investments
  • Family philanthropy
  • Family private equity and venture capital investments
  • Tax and legal advice to shareholders, tax-return preparation
  • The filing of required legal documents on behalf of the shareholder
  • Shareholder education
  • The planning and execution of family-council meetings, shareholder meetings and family assemblies
  • Administration of shared assets or properties—forexample, a family vacation property, farm, or ranch

With roots in Rockefeller’s Room 56 (so named because the family office originally operated out of Rockefeller Plaza’s suite 5600 on the 56th floor) and in the family office at Cargill, the largest private corporation in the world, many leading families today rely on their own family office or a shared service family office, a multifamily office. The latter, usually housed in the family office of a larger family, represents a way to outsource the administration of a family office, with its corresponding cost savings. Family offices assist family members with their ownership
and wealth responsibilities, and help make the owner/company or family/wealth relationship a more positive and disciplined one.

For further information please contact us directly.


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