A family office must meet the owners’ needs while being efficient in legal, tax and organizational matters. When it comes to structuring, Flick Gocke Schaumburg balances the family’s preferences with external circumstances.
The right structure depends on past history, present plans, and future development. That’s why we ask questions to help us identify the best family office structure for you:
Past
What are the significant assets and what is their tax history? Is the family office the result of a company sale, or are significant (re)investments still being made? Where are the investment resources located? Where are the family members located?
Present
Which asset classes are the right ones to invest in for tax purposes? What should stay in-house and what should be outsourced? What does the governance look like? To what extent does the family office want to make investment decisions itself? What form does reporting take?
Future
How much flexibility is required in response to legal or family changes? What are the owners’ distribution preferences? Are future sales envisaged? Are any family members likely to relocate abroad? When and how should the assets be passed on to the next generation?