Family Office Succession PlanningFamily Office Succession Planning

Your clients, John and Ann Williams, successfully sold their business and established a single family office (SFO) to invest the sales proceeds and support their family’s investment, reporting, tax and other needs. Now, they’re getting ready to retire and ask your advice about succession planning for leadership of the SFO. As it’s common for a substantial portion of the wealth of the family to be tied into the SFO, this matter takes on considerable weight within their family. Here are three important considerations as you advise your clients and prepare them for this all-important transition.

Selecting the Successor

Ideally, the identification of a successor leader should happen years before the anticipated transition, but this step is of...