What is the role of the Lawyer in the Family Office set up?
The role of the experienced Lawyer in setting up the family office cannot be understated. The Lawyer would take the time to understand the needs of the family, and would suggest an appropriate structure for the set-up. Usually, the lawyers would work with tax advisors and accountants when coming up with the appropriate structure. The advice you receive is only as good as the experience and technical expertise of your advisors.
The lawyer is able to set up and the also advise the Family Office on its commercial obligations and legal issues on an ongoing basis. The experienced lawyer’s role is also critical when doing a merger acquisition or disposal of an investment.