Single Family Offices are growing in popularity among wealthy Mexican and Latin American investors. Understanding what benefits are offered by this arrangement can help you decide if forming a Single Family Office is the right choice for you.
Key Benefits of a Single Family Office
Important reasons to consider forming a Single Family Office include:
- Personalized service. The services provided by a Single Family Office are personalized to fit your unique needs. From investment strategy and retirement planning to document management and recordkeeping, you're only paying for what you need to be successful.
- Convenience. A Single Family Office is a privately held company providing dedicated services to one family. Lawyers, CPAs, real estate brokers, travel agents, and life coaches can all be included in this arrangement if desired. When you have complex personal and financial needs, the convenience of the Single Family Office is a major selling point.
- Control. When you hire outside advisors to assist with specific tasks, you're bound by their terms. With a Single Family Office, you're setting conditions that fit your needs because these individuals only work for you.
- Privacy. If privacy is important to you, a Single Family Office is the best way to ensure the safety and security of your personal information.
- Promote family unity. A centralized Single Family Office encourages direct communication among family members and helps members of the younger generation work towards continuing the family's legacy.
- Achieve long-term goals. If you have a specific vision for your future, such as establishing a charitable foundation or encouraging your children or grandchildren to pursue entrepreneurship, the structure of a Single Family Office gives you the support you need to turn these dreams into a reality.
MEG International Counsel Can Help You Create a Single Family Office That Fits Your Needs
Do you want to learn more about using a Single Family Office to manage your family's affairs? Our dually licensed international business planning attorneys are readily available to answer your questions and help you make the choice that best fits your busy lifestyle. Contact us to learn more.