Succession

Who will take over the roles of key family members and professional staff once those currently serving retire? This is one key question a significant number of family offices are putting off answering. With that in mind, here are six tips to help you prevail over procrastination and start building toward your future.

To smooth the transition from one generation to the next, families set up governance structures and make sure their estate plans are in order. But it’s important not to overlook an important piece of this transition: the family office. The current family leaders of the family office, members of the next generation and the professional family office staff all have a role to play in making the handoff smooth. Experts offer advice for all three groups.