{"product_id":"the-complete-family-office-handbook-9781119694007","title":"The Complete Family Office Handbook","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003eForeword xix\u003c\/p\u003e \u003cp\u003ePreface xxi\u003c\/p\u003e \u003cp\u003eAcknowledgments xxv\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Introduction to the Family Office 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eA Macro View of Global Wealth 2\u003c\/p\u003e \u003cp\u003eBillionaire Update 7\u003c\/p\u003e \u003cp\u003eHow Much Do I Really Need to Fund a Family Office? 10\u003c\/p\u003e \u003cp\u003ePurpose and Definition of the Family Office 11\u003c\/p\u003e \u003cp\u003eHistorical Background of the Family Office 12\u003c\/p\u003e \u003cp\u003eFamily Office from the Industrial Age to Current 13\u003c\/p\u003e \u003cp\u003eKey Roles of the Family Office 16\u003c\/p\u003e \u003cp\u003eThe Executor and Trusted Advisor 16\u003c\/p\u003e \u003cp\u003eThe Guardian and Watchman 17\u003c\/p\u003e \u003cp\u003eThe Librarian and Guru 19\u003c\/p\u003e \u003cp\u003eFamily Office Orientation to Family, Strategy, and Operations 19\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 24\u003c\/p\u003e \u003cp\u003eNotes 24\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Family Office Evolution: Inceptions and Archetypes 27\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eInception of a Family Office 27\u003c\/p\u003e \u003cp\u003eScale: How Much Is Enough? 28\u003c\/p\u003e \u003cp\u003eImpact of the Family Business on the Family Office 30\u003c\/p\u003e \u003cp\u003eAttractions and Challenges with Embedded Family Offices 30\u003c\/p\u003e \u003cp\u003eSeparating the Family Office from the Family Business 32\u003c\/p\u003e \u003cp\u003eSudden Wealth 33\u003c\/p\u003e \u003cp\u003eThe Investment-Focused Family Office 34\u003c\/p\u003e \u003cp\u003eFamily Offices Through the Back Door 35\u003c\/p\u003e \u003cp\u003eFamily Business Exit and Liquidity Event 36\u003c\/p\u003e \u003cp\u003eFamily Office Archetypes 37\u003c\/p\u003e \u003cp\u003eThe Founder’s Family Office 37\u003c\/p\u003e \u003cp\u003eThe Virtual, Administrative, and Compliance Family Office 38\u003c\/p\u003e \u003cp\u003eThe Philanthropic Family Office 39\u003c\/p\u003e \u003cp\u003eThe Direct Investment and Investment Offices 39\u003c\/p\u003e \u003cp\u003eThe Family Business–Focused Family Office 40\u003c\/p\u003e \u003cp\u003eThe Multigenerational-Focused Family Office 41\u003c\/p\u003e \u003cp\u003eMathile Case Study 42\u003c\/p\u003e \u003cp\u003eBackground: Inception 42\u003c\/p\u003e \u003cp\u003eEvolution of the Family Office: Strategic Planning Cycles 43\u003c\/p\u003e \u003cp\u003eA Multigenerational Perspective 44\u003c\/p\u003e \u003cp\u003eAlignment, Urgency, and Action 45\u003c\/p\u003e \u003cp\u003eDiscovery and Steps 47\u003c\/p\u003e \u003cp\u003eInvolving Outside Experts 48\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 49\u003c\/p\u003e \u003cp\u003eNotes 50\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Comparing Family Office Solutions: Multi- and Single-Family Offices 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eTrends in the Family Office Landscape 54\u003c\/p\u003e \u003cp\u003eDetermining Family Wealth Management Needs 58\u003c\/p\u003e \u003cp\u003eWhy the Single-Family Office Solution? 59\u003c\/p\u003e \u003cp\u003eWhy the Multi-Family Office Solution? 65\u003c\/p\u003e \u003cp\u003eQuestions to Ask During the Evaluation Process 68\u003c\/p\u003e \u003cp\u003ePathways to Selecting a Multi-Family Office 74\u003c\/p\u003e \u003cp\u003eGodspeed Case Study 75\u003c\/p\u003e \u003cp\u003eIntroduction 75\u003c\/p\u003e \u003cp\u003eBackground of the Family and Family Office 75\u003c\/p\u003e \u003cp\u003eA Trigger and Decision for a New Direction 76\u003c\/p\u003e \u003cp\u003eJourney to Find What Is Next 76\u003c\/p\u003e \u003cp\u003eDecision-Making Process 77\u003c\/p\u003e \u003cp\u003eFinal Cut 78\u003c\/p\u003e \u003cp\u003eKey Insights and Outcomes 80\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 81\u003c\/p\u003e \u003cp\u003eNotes 82\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Family Values, Mission, and Vision and the Family Office 83\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eIntroduction to Values 83\u003c\/p\u003e \u003cp\u003eThe Process of Exploring Values 85\u003c\/p\u003e \u003cp\u003eValues Statement 86\u003c\/p\u003e \u003cp\u003eMission Statement 87\u003c\/p\u003e \u003cp\u003eValues, Mission, and the Family Office 88\u003c\/p\u003e \u003cp\u003eThe Importance of Vision 89\u003c\/p\u003e \u003cp\u003eElements for Successful Family Office Visioning 92\u003c\/p\u003e \u003cp\u003eBuilding Your Family Office Vision 94\u003c\/p\u003e \u003cp\u003ePitcairn Family Case Study 95\u003c\/p\u003e \u003cp\u003eFive Steps to Creating a Family Vision 98\u003c\/p\u003e \u003cp\u003eStep 1: Clarifying the Process and Expectations 99\u003c\/p\u003e \u003cp\u003eStep 2: Vision Retreat Pre-Planning 99\u003c\/p\u003e \u003cp\u003eStep 3: Staging a Vision Retreat 100\u003c\/p\u003e \u003cp\u003eStep 4: Timing for a Vision Retreat 100\u003c\/p\u003e \u003cp\u003eStep 5: Aligning Vision and the Strategic Plan 100\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 101\u003c\/p\u003e \u003cp\u003eNotes 102\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Establishing and Structuring of Family Offices 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIvan A. Sacks, Esq., Partner, Withers Bergman LLP\u003c\/p\u003e \u003cp\u003eWilliam J. Kambas, Esq., Partner, Withers Bergman LLP\u003c\/p\u003e \u003cp\u003eQuestion 1: What Legal Form Should the Family Office Take? 105\u003c\/p\u003e \u003cp\u003eChoice of Entity 107\u003c\/p\u003e \u003cp\u003eDeciding Between an LLC and a C Corporation 107\u003c\/p\u003e \u003cp\u003eCase in Point 113\u003c\/p\u003e \u003cp\u003eQuestion 2: Who Should Pay for Establishing and Operating the Family Office? 114\u003c\/p\u003e \u003cp\u003eQuestion 3: Who Should Own the Family Office and How? 116\u003c\/p\u003e \u003cp\u003eLegal Ownership 117\u003c\/p\u003e \u003cp\u003eBeneficial Ownership 117\u003c\/p\u003e \u003cp\u003eModels of Ownership 117\u003c\/p\u003e \u003cp\u003eQuestion 4: Who Should Manage the Family Office and How? 119\u003c\/p\u003e \u003cp\u003eStructuring the Legal Formalities 120\u003c\/p\u003e \u003cp\u003eStructuring the Scope of Services 122\u003c\/p\u003e \u003cp\u003eFamily Philanthropy, Legacy, and Social Capital 125\u003c\/p\u003e \u003cp\u003eManaging Regulatory and Estate Planning Concerns 125\u003c\/p\u003e \u003cp\u003eQuestion 5: How Are Family Offices Structured to Optimize Tax Efficiency? 126\u003c\/p\u003e \u003cp\u003eTax Deductibility of Services Provided by the Family Office 129\u003c\/p\u003e \u003cp\u003eState and Local Tax 131\u003c\/p\u003e \u003cp\u003eQuestion 6: Can a Family Office Be Structured to Manage Risk? 132\u003c\/p\u003e \u003cp\u003eCase in Point 132\u003c\/p\u003e \u003cp\u003eRisk Management Through Architecture 133\u003c\/p\u003e \u003cp\u003ePeople-Oriented Risk Management 133\u003c\/p\u003e \u003cp\u003eBalance Sheet, Cash Flow, and Economic Risk Management 133\u003c\/p\u003e \u003cp\u003eQuestion 7: What Is the Process of Establishing and Structuring a Family Office? 134\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 136\u003c\/p\u003e \u003cp\u003eNotes 137\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Strategic Planning for the Family Office 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eCreating a Family Office Strategic Plan 140\u003c\/p\u003e \u003cp\u003eDiscovery 141\u003c\/p\u003e \u003cp\u003eThe Family Capital Review 142\u003c\/p\u003e \u003cp\u003eThe Family Background 143\u003c\/p\u003e \u003cp\u003eThe Advisor Network Review 145\u003c\/p\u003e \u003cp\u003eThe Estate Plan Review 145\u003c\/p\u003e \u003cp\u003eMapping and Summarizing Legal Entities 146\u003c\/p\u003e \u003cp\u003eFamily Office Stress Tests 147\u003c\/p\u003e \u003cp\u003eRisk and Insurance Management Considerations 150\u003c\/p\u003e \u003cp\u003eFamily Office Risk Assessment and Insurance Planning 151\u003c\/p\u003e \u003cp\u003eFamily Member Risk and Insurance Planning 154\u003c\/p\u003e \u003cp\u003eOverview of Capital Sufficiency Analysis 155\u003c\/p\u003e \u003cp\u003eSimple vs. Sophisticated Approach 156\u003c\/p\u003e \u003cp\u003eUsing Capital Sufficiency in the Family Office 156\u003c\/p\u003e \u003cp\u003eCase in Point: Doryman Family 157\u003c\/p\u003e \u003cp\u003eKey Takeaways 164\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 165\u003c\/p\u003e \u003cp\u003eNotes 166\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Legal and Compliance Standards and Practices for Family Offices 167\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDavid S. Guin, Esq., Partner and US Commercial Practice Group Leader, Withers Bergman LLP\u003c\/p\u003e \u003cp\u003eRegulations Affecting Family Offices: Dodd-Frank Act 167\u003c\/p\u003e \u003cp\u003eCase in Point 169\u003c\/p\u003e \u003cp\u003eThe Single-Family Office Exemption 170\u003c\/p\u003e \u003cp\u003eCase in Point 174\u003c\/p\u003e \u003cp\u003eClients of the Family Office May Need to Report Beneficial Ownership of Securities of Publicly Reporting Companies 175\u003c\/p\u003e \u003cp\u003eHow to Report Beneficial Ownership 176\u003c\/p\u003e \u003cp\u003eOwnership of Securities in the Ordinary Course of Business 176\u003c\/p\u003e \u003cp\u003ePassive Ownership of Less than 20 Percent of a Class of Securities 176\u003c\/p\u003e \u003cp\u003eOther Acquisitions 177\u003c\/p\u003e \u003cp\u003eClients of the Family Office May Need to Report Beneficial Ownership as Insiders of Publicly Reporting Companies 177\u003c\/p\u003e \u003cp\u003eReporting Insider Status on Form 3, Form 4, or Form 5 178\u003c\/p\u003e \u003cp\u003eHow Do I Determine Beneficial Ownership in a Multi-Tiered Family Holding Structure? 179\u003c\/p\u003e \u003cp\u003eAre You an Institutional Investment Manager? (The Answer May Surprise You.) 180\u003c\/p\u003e \u003cp\u003eWhat Is an Institutional Investment Manager? 181\u003c\/p\u003e \u003cp\u003eReporting on Form 13F 181\u003c\/p\u003e \u003cp\u003eDetermining If the $100 Million Threshold Has Been Met 183\u003c\/p\u003e \u003cp\u003eConfidential Treatment 184\u003c\/p\u003e \u003cp\u003eAre You a Large Trader? 184\u003c\/p\u003e \u003cp\u003eThe SEC Gets Personal About Insider Trading 186\u003c\/p\u003e \u003cp\u003eCompliance Policies 188\u003c\/p\u003e \u003cp\u003eWhat Are the Components of a Good Compliance Policy? 189\u003c\/p\u003e \u003cp\u003eDocument Retention Policies 190\u003c\/p\u003e \u003cp\u003eWhat Are the Components of a Good Document Retention Policy? 192\u003c\/p\u003e \u003cp\u003eThe Compliance Function: In-House Versus Outsourced 192\u003c\/p\u003e \u003cp\u003eSpecial Issues for Family Offices When Considering Regulatory Requirements 193\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 194\u003c\/p\u003e \u003cp\u003eNotes 194\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Investment Management and the Family Office 197\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eFamily Office Investment Management 198\u003c\/p\u003e \u003cp\u003eConcentration 199\u003c\/p\u003e \u003cp\u003eMeasuring Success 200\u003c\/p\u003e \u003cp\u003eLifestyle and Legacy 201\u003c\/p\u003e \u003cp\u003eTime Horizon 203\u003c\/p\u003e \u003cp\u003eHurdles to Growing Wealth 205\u003c\/p\u003e \u003cp\u003eFamily Office Investing: Paradigm Shift 206\u003c\/p\u003e \u003cp\u003ePassive Versus Active Asset Management 208\u003c\/p\u003e \u003cp\u003eA Practical Approach to Asset Allocation 209\u003c\/p\u003e \u003cp\u003eThe Investment Process in a Family Office 210\u003c\/p\u003e \u003cp\u003eInvestment Review 210\u003c\/p\u003e \u003cp\u003eInvestment Governance 211\u003c\/p\u003e \u003cp\u003eInvestment Objectives 214\u003c\/p\u003e \u003cp\u003eThe Investment Policy Statement 214\u003c\/p\u003e \u003cp\u003eInvestment Committee 217\u003c\/p\u003e \u003cp\u003eWhy Would a Family Establish an Investment Committee (IC)? 218\u003c\/p\u003e \u003cp\u003eHow Does a Family Establish an Investment Committee? 218\u003c\/p\u003e \u003cp\u003eHow Does an Investment Committee Usually Operate? 218\u003c\/p\u003e \u003cp\u003eStrategic and Tactical Asset Allocation, Manager Selection, and Investment Monitoring 221\u003c\/p\u003e \u003cp\u003eCIO Function: In-House Versus Outsourced 223\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 227\u003c\/p\u003e \u003cp\u003eNotes 228\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Family Office Operations and Information Technology 231\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eJohn Rosplock, COO and CFO, Tamarind Partners, Inc.\u003c\/p\u003e \u003cp\u003eRobert Kaufold, President and Chief Risk Officer, Cauldera LLC\u003c\/p\u003e \u003cp\u003eFamily Needs Drive Family Office Systems 232\u003c\/p\u003e \u003cp\u003eFamily Office Operations 233\u003c\/p\u003e \u003cp\u003eAccounting 233\u003c\/p\u003e \u003cp\u003eReporting 233\u003c\/p\u003e \u003cp\u003eFinancial Reporting 235\u003c\/p\u003e \u003cp\u003eData and Decision Archiving 236\u003c\/p\u003e \u003cp\u003eFamily Office Management 238\u003c\/p\u003e \u003cp\u003eSecurity 239\u003c\/p\u003e \u003cp\u003eOther Technology 239\u003c\/p\u003e \u003cp\u003eAssessing Operational Complexity 240\u003c\/p\u003e \u003cp\u003eSimple to Complex Systems 242\u003c\/p\u003e \u003cp\u003eComplex System Technology 244\u003c\/p\u003e \u003cp\u003eOperations Lens to Insourcing Versus Outsourcing 247\u003c\/p\u003e \u003cp\u003eTechnology Considerations: Buy or Build 249\u003c\/p\u003e \u003cp\u003eNew Technology Due Diligence and Onboarding 250\u003c\/p\u003e \u003cp\u003eKeys to Success 254\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 255\u003c\/p\u003e \u003cp\u003eNotes 256\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Family Office Talent, Compensation, and Recruitment 257\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eIntroduction 258\u003c\/p\u003e \u003cp\u003eFamily Office Staffing 259\u003c\/p\u003e \u003cp\u003eSingle-Family Office Organizational Chart 261\u003c\/p\u003e \u003cp\u003eGender and Family Office Executives 267\u003c\/p\u003e \u003cp\u003eRecruiting Family Office Talent 268\u003c\/p\u003e \u003cp\u003eFinding a Good Chemistry and Culture Fit 269\u003c\/p\u003e \u003cp\u003eBackground Checks 271\u003c\/p\u003e \u003cp\u003eCompensation 272\u003c\/p\u003e \u003cp\u003eMethods for Determining Annual Incentives 274\u003c\/p\u003e \u003cp\u003eManaging Family Office Talent 276\u003c\/p\u003e \u003cp\u003eRole Clarity and Job Description 276\u003c\/p\u003e \u003cp\u003eReporting Hierarchy and Authority 276\u003c\/p\u003e \u003cp\u003ePerformance Management 277\u003c\/p\u003e \u003cp\u003eCommunication and Trust 278\u003c\/p\u003e \u003cp\u003eRecruiting Internationally 278\u003c\/p\u003e \u003cp\u003eCase Study: Setting Up the Office 279\u003c\/p\u003e \u003cp\u003eFamily or Non-Family at the Helm 280\u003c\/p\u003e \u003cp\u003eFamily Member Compensation 281\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 282\u003c\/p\u003e \u003cp\u003eNotes 282\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Governance Issues for the Family Office 285\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBarbara Hauser, JD, Independent Family Advisor\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eGovernance Issues for the Family Office Itself 286\u003c\/p\u003e \u003cp\u003eBenefits of a Good Board 286\u003c\/p\u003e \u003cp\u003eImportance of Independent Directors 288\u003c\/p\u003e \u003cp\u003eInterim Stage of Advisory Board 289\u003c\/p\u003e \u003cp\u003eAccountability to the Family 289\u003c\/p\u003e \u003cp\u003eParticipation in Long-Term Strategy 289\u003c\/p\u003e \u003cp\u003eNext Generation Issues to Address 290\u003c\/p\u003e \u003cp\u003eSuccession Planning for the Family Office and Its Executives 290\u003c\/p\u003e \u003cp\u003eGovernance for the Family Itself 293\u003c\/p\u003e \u003cp\u003eAnalysis of Existing Decision-Making Process 295\u003c\/p\u003e \u003cp\u003eHallmarks of Good Governance: Transparency, Accountability, and Participation 296\u003c\/p\u003e \u003cp\u003eBenefits of the Family Creating Its Own Governance Process and Structure 297\u003c\/p\u003e \u003cp\u003eHow to Create the Family Governance 298\u003c\/p\u003e \u003cp\u003eFamily Councils 299\u003c\/p\u003e \u003cp\u003eFamily Constitutions 300\u003c\/p\u003e \u003cp\u003eKettering Family Governance Case Study 302\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 308\u003c\/p\u003e \u003cp\u003eNotes 309\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Family Education and the Family Office 311\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eStewardship of Wealth 313\u003c\/p\u003e \u003cp\u003ePsychology of Wealth and Child Development 314\u003c\/p\u003e \u003cp\u003eElsa’s Story 316\u003c\/p\u003e \u003cp\u003eOvercoming Communication Challenges 317\u003c\/p\u003e \u003cp\u003eCase Study: Waithram Family 319\u003c\/p\u003e \u003cp\u003eClear Expectations and the Power of Inherited Wealth 322\u003c\/p\u003e \u003cp\u003eInspiring Entrepreneurship and the Next Generation 325\u003c\/p\u003e \u003cp\u003eCase Study: Jennifer’s Story 326\u003c\/p\u003e \u003cp\u003eThe Power, Influence, and Inspiration of Mentors 327\u003c\/p\u003e \u003cp\u003eCreating a Family Education Plan 329\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 332\u003c\/p\u003e \u003cp\u003eNotes 333\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Family Entrepreneurship and the Family Bank 335\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWarner King Babcock\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eWhat Is a Family Bank? 335\u003c\/p\u003e \u003cp\u003eTwo Mindsets to Your Family Bank 338\u003c\/p\u003e \u003cp\u003eEstablishing and Funding a Family Bank? 339\u003c\/p\u003e \u003cp\u003eFive Principles for Family Banks 340\u003c\/p\u003e \u003cp\u003eDemocratize 340\u003c\/p\u003e \u003cp\u003eHarmonize 340\u003c\/p\u003e \u003cp\u003eCustomize 341\u003c\/p\u003e \u003cp\u003eFlexibilize 342\u003c\/p\u003e \u003cp\u003eProfessionalize 342\u003c\/p\u003e \u003cp\u003eMini-Case Study: Intra-Family Financing of New Family Businesses 343\u003c\/p\u003e \u003cp\u003eOrganizing a Family Bank 344\u003c\/p\u003e \u003cp\u003eEntity Choice 345\u003c\/p\u003e \u003cp\u003eEvolution of Family Banks: From Simple to Complex 346\u003c\/p\u003e \u003cp\u003eMini-Case Study: A Family Bank Designed to Develop the Next Generation 349\u003c\/p\u003e \u003cp\u003eGood Governance: Family Bank Boards, Committees, and Trustees 350\u003c\/p\u003e \u003cp\u003eMini-Case Study: Family Bank Without Good Governance 351\u003c\/p\u003e \u003cp\u003eLimitations of Trusts 352\u003c\/p\u003e \u003cp\u003eThe Role of the Family Office 353\u003c\/p\u003e \u003cp\u003eThe Role of Outside Experts 354\u003c\/p\u003e \u003cp\u003eTax and Legal Considerations of Family Banks 355\u003c\/p\u003e \u003cp\u003eThe Anderson Family Case Study 355\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 358\u003c\/p\u003e \u003cp\u003eNotes 359\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Legacy, Philanthropy, and Impact Investing 361\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKirby Rosplock, PhD\u003c\/p\u003e \u003cp\u003eIntroduction to Legacy 362\u003c\/p\u003e \u003cp\u003eA Generational Lens to Legacy 362\u003c\/p\u003e \u003cp\u003eDefining Legacy 364\u003c\/p\u003e \u003cp\u003eFinancial Legacy 365\u003c\/p\u003e \u003cp\u003eSocial Legacy 366\u003c\/p\u003e \u003cp\u003ePhilanthropic Legacy 367\u003c\/p\u003e \u003cp\u003ePhilanthropy, Impact, and Sustainable Investing 368\u003c\/p\u003e \u003cp\u003eOpportunities and Challenges of Philanthropy, Impact, and Sustainable Investing 371\u003c\/p\u003e \u003cp\u003eFamily Philanthropy and Foundations 373\u003c\/p\u003e \u003cp\u003eThe Root Family Legacy and Evolving Their Philanthropy 374\u003c\/p\u003e \u003cp\u003eThe Family Office Supporting Family Philanthropy 377\u003c\/p\u003e \u003cp\u003eCordes Family Case Study 378\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 385\u003c\/p\u003e \u003cp\u003eNotes 386\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Private Trust Companies: Creating the Ideal Trustee 389\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMiles Padgett, Partner, Kozusko Harris Duncan\u003c\/p\u003e \u003cp\u003eDon Kozusko, Partner, Kozusko Harris Duncan\u003c\/p\u003e \u003cp\u003eThe Broader View 389\u003c\/p\u003e \u003cp\u003eWhat Is a Private Trust Company? 389\u003c\/p\u003e \u003cp\u003eWhat Are the Differences Between a Private Trust Company and a Commercial Trust Company? 390\u003c\/p\u003e \u003cp\u003eWhy Do Families Consider Creating a PTC? 392\u003c\/p\u003e \u003cp\u003eWhat Are the Key Considerations to Be Addressed Prior to Pursuing a PTC? 392\u003c\/p\u003e \u003cp\u003eSteps to Creating a PTC 398\u003c\/p\u003e \u003cp\u003eChoice of Regulatory Regime 398\u003c\/p\u003e \u003cp\u003eGeographical Convenience 400\u003c\/p\u003e \u003cp\u003eSubstantive Trust Laws 401\u003c\/p\u003e \u003cp\u003eTrust Company Laws 402\u003c\/p\u003e \u003cp\u003ePublic Policy Environment 404\u003c\/p\u003e \u003cp\u003eTrust and Trust Company Taxes 405\u003c\/p\u003e \u003cp\u003eAchieving Success in a PTC: Setting Priorities 405\u003c\/p\u003e \u003cp\u003eFostering Beneficiary Development Should Be the Primary Objective of the PTC 406\u003c\/p\u003e \u003cp\u003ePrinciples and Practices for a Successful Private Trust Company 408\u003c\/p\u003e \u003cp\u003eThe Parable Family 409\u003c\/p\u003e \u003cp\u003eConclusion and Final Thoughts 415\u003c\/p\u003e \u003cp\u003eNotes 416\u003c\/p\u003e \u003cp\u003eAppendix A: Family Office Complexity Assessment 419\u003c\/p\u003e \u003cp\u003eAppendix B: Family Office Technology Segments 423\u003c\/p\u003e \u003cp\u003eAbout the Author 425\u003c\/p\u003e \u003cp\u003eAbout the Contributors 427\u003c\/p\u003e \u003cp\u003eIndex 431\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49407122342231,"sku":"9781119694007","price":64.6,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9781119694007.jpg?v=1730498257","url":"https:\/\/bookcurl.com\/products\/the-complete-family-office-handbook-9781119694007","provider":"Book Curl","version":"1.0","type":"link"}