Your business has a unique element that no other business has – the aspect of the family. This difference can play a significant role in decision making and offers both opportunities and challenges. The Corporate Campus understand that the growth and sustainability of your family business lies in the fine balance between the needs of the business and the expectations of your family members.
With its knowledge and experience with family businesses around the world, The Corporate Campus advisors have worked with large and small companies to address the needs of the business, and the family.
At its most basic, a family office is an entity that is used to professionalize the investment management of your wealth during and after your lifetime. Depending on your needs, the family office’s responsibilities can be expanded to include providing other services to your family.
Cross-border taxation is a consideration that will be relevant to you if you have investments overseas (such as shares or properties) or have family members living abroad. With proper structures/ advance planning, complex tax implications or high tax exposure can be efficiently mitigated.
Trusts and Related Services
A Trust is a legal arrangement whereby one party (Settlor) transfers his assets to another party (Trustee) to hold and administer for the Settlor himself and/or other parties (Beneficiaries).
In other words, you give legal ownership of your assets to the Trustee, and beneficial ownership to the Beneficiaries.
This split between legal and beneficial ownership creates the various benefits of a Trust. This includes
- Avoiding probate formalities and providing for timely distribution
- Distributing assets in an orderly and flexible manner
- Retaining control over investments
- Providing for vulnerable dependents
- Protecting family’s wealth from creditors and other claimants
- Paying for medical and other emergencies
- Enhancing legitimate confidentiality
- Benefitting charities
- Consolidating asset holding
- Tax planning
The transfer of assets from one generation to another is an issue that all families must face. There are various solutions that you can implement. The right solution depends amongst other things on your residence/domicile and the location of your assets.
When it comes to family, nothing matters more than ensuring that their future is secure. You want to provide for them, protect them, and safeguard their best interests, knowing that when the future arrives, they have what they need. Innovative life insurance solutions allow you to plan for unforeseen circumstances
Traditionally, charitable giving may be simply you making “cheque-book donations” to institutions of your choice e.g. a hospital, school or non-profit organisation. Today, you may instead give to social enterprises that support specific causes that matter to you and your family.
Alternatively, you may go further and make investment decisions where financial returns are secondary to measurable social impact, a strategy often referred to as impact investing.
Once you have done it all and you want to just go away, that’s when we support you to find your exit strategy.