Prepared in association with STEP, the world’s leading organisation for private wealth professionals, this new edition of Family Offices has been fully updated and features a number of new chapters, all written by the leading experts in the field. The third edition of this practical guide steers readers through the family office model, from its inception to the final stage in its ‘life cycle’, and looks at: establishing a family office and choosing the right jurisdiction; the tax structuring of a family office; recruiting and managing staff; the pros and cons of a ‘virtual’ office; reputation protection; wealth stewardship; communication and cultural issues; how to ensure that the family office is relevant; and governance, crisis planning and long-term resilience. The second part of the book explores the increasing number of important jurisdictions and includes chapters on Australia, Bermuda, Canada, the Gulf region, Hong Kong, India, Israel, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States. The Hong Kong chapter reflects the latest legislative developments in Hong Kong aimed at making it one of the most prominent locations for family offices. Whether you are a professional practising in the family office sphere, a family officer, a family member or a new entrant to this diverse and challenging arena, this comprehensive publication provides essential insight into all aspects of the family office world.

As F Scott Fitzgerald wrote in The Great Gatsby, "the rich are different" and face unique challenges - this is perhaps especially true today. Countries are racing to disclose bank accounts to garner more tax income and the politics of being in the "1% club" are not always positive. Yet these are important clients with important needs. This comprehensive new handbook, featuring contributions by leading private client advisers, includes chapters on topics including: *the importance of having a detailed, organised balance sheet; *buying very substantial properties; *choosing a country of residence; *managing cross-border taxes; *protecting assets from marital claims; *understanding trust documents; *creating a private trust company; and *setting up a family office. In addition, this book explores risk and reputation management, addresses diminished capacity and provides an evaluation of the wealth infrastructure, the philanthropic framework and the future of global investing. Edited by Barbara Hauser, Editor of The International Family Offices Journal and the new edition of Family Offices: The STEP Handbook for Advisers, this new handbook will provide essential reading for all private client advisers, wherever they are based.

Setting up a family office is never an easy undertaking and can present numerous challenges for anyone seeking to steward assets for future generations or meet the complex needs of extended family members. This Special Report provides a practical guide to the main factors to consider when setting up a family office and helps families and their advisers navigate a path through the wide range of family office models in use today. In addition to a brief history of family offices and their evolution, the report covers how families can be encouraged to spend quality time thinking about their needs and aspirations - as well as their relationship to the family wealth - and explores how advisers can work alongside families most effectively. Written in an engaging, accessible style Setting Up a Family Office looks at who can benefit most from a family office and walks the reader through each key step in the process, including: *how to hire; *where to locate; *what structure to use; *how to ensure privacy and loyalty; and *the evolution of the office and the family. This report makes essential reading for anyone considering setting up a family office including advisers working alongside families on these key issues. Authors Barbara Hauser and Keith Drewery have decades of practical experience working with family offices, in all stages, and in many countries.