Do we have a multi-generational wealth strategy which is fully understood and shared by all the members of the family?
We are often asked what sort of questions we pose to the many advisors that support High Net Worth Families and how we ensure that all of the advisors are aligned to deliver to the same shared family goals. Here's our view of the top 10 questions you should ask your advisors and why.
Have you considered how to ring-fence my family assets in the case of a divorce or bankruptcy within the family?
Are my foreign sited assets correctly dealt with in each jurisdiction and has the interaction of different rules in each location been considered?
Does my will accurately reflect my family’s constitutional plan?
Do I have a recent detailed cash flow model to establish how realistic my financial goals are as well as my level of risk and volatility?
Do I have a multi-generational wealth strategy plan which is shared amongst all my advisers?
Can you help me expand my tax efficiency in giving?
Can my family access our wealth in a flexible way in order to enjoy hobbies, interests and future business objectives?
Do I have a plan in place for the financial education of my children to prepare them for managing our family’s assets?
Do my advisers all know each other and act in a truly connected way across tax, legal, investment banking, property and more?