Multi-Generational Family
- Represented by wealth generator or surviving spouse
- Elderly parent(s) of wealth generator or spouse
- Married adult children with several children of their own
- Second marriages/families are common
- Stay-Awake Issues/Needs/Goals/Worries/Services
- Estate Planning
- Who will manage when originator is unavailable [stay-awake issue]?
- How is it fair to various beneficiary levels when unequal distributions are needed?
- Maximize what stays in the family, versus what flows to the government in taxes
- Establish a framework for the family to continue to thrive in future generations
- Education programs for family members
- Investments
- Philanthropy
- Family governance
- Dynastic planning with trusts, insurance policies or other assets
- Varying administrative cash/custody services over time
- Differing levels of need during maturing/aging process on either end of the age continuum
- From a la carte to turnkey cash management services
- Personalized, tailored and comprehensive family office services meeting needs of the various generations
- The expertise, attention and convenience of a single-family office, without the expense
- Shared priorities and opportunities with other similarly situated high-net-worth families
- It is difficult to justify the expenses of a single family office for family assets not in the tens –of-millions range. A multi-family office is a reasonably priced, fully-equipped, alternative.
