Legal
Family offices are evolving—what should you be focusing on in the future? Share your insights in our new survey.
Aponte family expands its Mediterranean Shipping Company to rival Maersk, EssilorLuxottica proceeds with $8.7 billion stake in GrandVision after tribunal, Albert music publishing dynasty ventures into impact investing.
The recent losses caused by Archegos Capital Management on Wall Street have shone what may be an unwelcome spotlight on the regulation of family offices. This has led to concerns, particularly in the United States, that new disclosure requirements may now be imposed on family offices.
Manchester United owner Joel Glazer promises angry fans investment and consultation, Warren Buffett’s heir apparent is deal-maker Greg Abel, Bill and Melinda Gates to divorce but continue charitable foundation.
Statistics from the UK government’s tax office show the amount of Inheritance Tax (IHT) families are paying has soared from £2.9 billion ($3.9 billion) in 2011-12 to £5.2 billion ($7.1 billion) in 2019-20—this in part reflects the rise in asset values since 2008, and in particular skyrocketing property prices in London and the south-east of England.
Some beneficiaries discover that faith in fiduciaries can be misplaced. A combination of events, poor decision making, or even malign actors can see the value of fortunes thought to be in safe hands wiped out.
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