Today Members of Families of Wealth live in various places in the world and their Assets are scattered all around the world and therefore the Estate and Tax Planning become very complex and have many moving pieces. Very often Members of the Family are not aware that individual decisions they take, might have a gigantic impact on the family’s tax situation and exposes the Financial Capital of the Family to new Taxes and different Jurisdictions. The family is well served to have a Family Office like P. J. Weil Ltd. to watch over the changes in the regulatory and fiscal environment and accompany the family’s journey through time.
We coach the family members about Estate and tax matters as well as facilitate the sensible discussions about money and in-laws (Prenuptial Agreement, etc.).
Once writing a Last Will was a simple matter and was done by the Head of the Family without consulting the adult members of the family, but people of those days inherited at a young age. Today, when we already know that the Baby Boomer Generation will reach 100 years of age, some of the Wealth will probably transfer to the next generation before the actual passing of the Head of the Family.
We can offer you facilitated family meetings to address the Estate Planning and lead a dialogue that is not about the financial capital alone, but about the family legacy, the family governance and the establishment of a family constitution. These family meetings are the very ingredient that successful families use to prevent disputes and a falling apart of the family.