Wealthy people go to great lengths to pass their fortunes down to the next generation, or pass down their values and legacy. Sometimes they do this with a solid structure—such as a family office.
So here’s a good question: How do you pass down the family office?
As part of the enormous intergenerational transfer of wealth that is expected over the next decade, single-family offices are being transferred, too. It’s happening more and more, as more offices emerge amid a flurry of private wealth creation. That means, besides expensive cars, houses, paintings, trusts, etc., there will also be an increasing number of single-family offices going to heirs to take over and manage.
