The key criteria for UHNW families to consider when establishing a family office were the focus at a recent conference.
Blane Queripel, Client Director of PraxisIFM Trust Limited in Guernsey, moderated a panel debate on wealth structuring for multi generational wealth at the Prestel & Partner Family Office Forum.
This year’s headline theme was ‘Future-Proof Your Family Office’ and included topics:
- Best Practice in Family Office Governance
- Transparency and Accountability
- Practical tips: Cyber Security – what to look out for
Blane moderated the final session on day one. ‘It was clear from delegate feedback that not all family offices and patriarchs have fully considered succession planning and the benefits of using fiduciary structures administered by independent service providers,’ said Blane.
‘Our well-rounded discussion on professionalising and preserving family wealth through the use of structures such as trusts, foundations, limited partnerships, and private trust companies was well received by the audience.’
The panel also debated how such structuring can protect next generation family members from the risk of potential misuse or exploitation of assets.
It was the sixth edition of the Family Office Forum in London, with 217 attendees hearing from more than 30 speakers across the two days. The event took place at Claridge’s.