The client-centered estate planning, wealth transfer, and family law services, including related tax strategies and activities, that support and protect an UHNW family and its family enterprise entities.
The Estate Planning and Legal Issues domain encompasses the myriad activities required in managing the complex estate planning, trust design and administration, family law, and family litigation activities and needs of the family and its multiple enterprises and entities, within and across jurisdictions. The domain also includes those aspects of tax planning and management that pertain to wealth transfer; legal aspects of financial, investment, and enterprise management; and legal aspects of governance and leadership roles and responsibilities across the family enterprise. The domain touches on or must be considered in nearly all activities or topics that arise in the life of a multigenerational UHNW family. It is therefore a key component in providing integrated family wealth management services.
Because of the domain’s breadth and depth, a family may utilize multiple attorneys at any give time in various roles and activities. The family office must also rely on competent counsel to ensure the family and family enterprise are well-protected and carefully administered. In addition, families with a global presence must have excellent legal advice and representation in multiple jurisdictions. Legal professionals who serve UHNW families typically have not only a greater depth of knowledge but also a broad range of skills that support excellent collaboration and interaction with family members and other advisors.
The Estate Planning and Legal Issues domain is a component of the Wealth Creation and Stewardship cluster within the Ten Domains of Family Wealth model of The UHNW Institute.
See Also: The Ten Domains of Family Wealth
The UHNW Institute. Our Thinking, December 15, 2022. https://www.uhnwinstitute.org/our-thinking/