Why Should You Set Up a Family Office?
Years of hard work has made it possible for your family business to grow. You managed to reach various milestones that allowed you to earn millions (or even billions) of dollars! You wouldn’t want to waste all of your hard-earned money, right? So, you should try setting up a family office in Singapore. Here’s how it can help:
Preserve Wealth
A family office is a wealth management advisory firm that is helpful for Ultra High Net Worth Individuals or UHNWIs. It is recommended to set it up because it can help preserve the wealth of UHNWIs for future generations to come!
Ensure Proper Wealth Transfer
This is also beneficial in legacy planning because you will be able to properly transfer your wealth to your chosen beneficiaries. Legacy planning is when you pass down most of your wealth to your loved ones.
Personalised Service
What is also great about it is that the financial strategies that tailor-made or personalised. You will be able to get the most of your investments, thanks to the family office’s financial advisors and legal officers.
Get Professional Advice
A family office is a team of CPAs, attorneys and other professionals. You can ask for advice on how to better utilise all of your assets and properties. Doing this can help in further improving your family business.
Educate Your Family
The advisors can also educate you and your family. You will all become more thrifty and frugal in life. This will ensure that all of the inherited properties will be put in good use.
Confidentiality
In a multi-family office in Singapore, you can rest assured that all of your financial ventures will remain confidential. There will be no other people (aside from your family and your financial advisors) that can access this confidential information.
Your wealth is safe with the help of a family office. If you need to hire this kind of service, then check out Golden Equator Wealth now!
Resource:
https://shaddywei.kinja.com/why-should-you-set-up-a-family-office-1844050408
