Estate Planning and Legal Issues domain

« Back to Glossary Index

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/

Want to Contribute to the Wealthesaurus?

  • Check that the term (or a synonym) is not in the Wealthesaurus already
  • Email a description of your suggested term, a one- or two-sentence draft of its proposed definition, and a brief explanation of its usage or background (300 word maximum) to librarian@uhnwinstitute.org
  • The term will be reviewed for inclusion by the UHNW Institute Resource Librarian and staff of the Institute. You will be notified once a decision has been made.

If you wish to cite the Wealthesaurus in Institute or external resources, use the following format:

      The UHNW Institute. “Wealthesaurus: a Glossary of Family Wealth Advising Terms,” 2024.                                                    https://glossary.uhnwinstitute.org/

Remember that the Wealthesaurus is only currently available to Institute members, so the public will not be able to look at the source citation. Eventually if the Wealthesaurus is publicly available on the web, others may be able to use the glossary.

Welcome to the Wealthesaurus*

A Glossary of Family Wealth Advising Terms

*pronounced: well-thuh-SAWR’-uhs

The Wealthesaurus provides standardized definitions of common and specialized family wealth advising industry terms. By sharing this glossary, we hope to improve communication across the UHNW community.

How to Use the Wealthesaurus

  • Browse terms by first letter in the alphabet menu or by scrolling down the list. You may also enter a term in the search box to see if it is present.
  • Click on a term to see its definition along with an explanation of its usage and an audio sample of its pronunciation.
  • Click on any highlighted links you find to get more information or see related terms.
  • Return to the main index page by clicking the Wealthesaurus logo or “Back to Glossary Index.” Click “all” in the alphabet to get back to the full menu.
For more information on general topics related to finance, law, or investments, see also:
 

info@uhnwinstitute.org

929.406.0805

© The UHNW Institute 2024

Twitter Linkedin
Mission:
  • Provide an intellectual framework, understanding and organization of family wealth management content
  • Educate advisors and family offices on how best to support evolving UHNW families
  • Provide thought leadership, insights and resources to advisors and family offices
  • Promote best practices, provide professional development and support sustainable, positive change within our industry
  • Foster an equitable, collaborative and safe learning environment within the wealth management industry