{"id":3679,"date":"2021-11-02T10:55:32","date_gmt":"2021-11-02T10:55:32","guid":{"rendered":"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office"},"modified":"2021-11-02T11:26:01","modified_gmt":"2021-11-02T11:26:01","slug":"the-rise-of-the-family-office","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office","title":{"rendered":"The rise of the family office"},"content":{"rendered":"

Africa-Press – Rwanda. <\/strong><\/span>In recent years we have seen an increase in structures being set up, not simply for operational or business purposes, but for wealth and asset protection. In most cases, this wealth and assets are owned by a family, who would like to structure their affairs in a manner which protects the assets, and ensures that any children, or other heirs, are \u2018taken care of\u2019.<\/p>\n

Various vehicles can be used for this purpose, be it a trust or a foundation, or even a holding company \u2013 the vehicle used depends on a number of factors, including the number and type of assets, and also the family structure. However, this always needs to be decided on a case-by-case basis, after carefully understanding what the main objectives of the family are. In certain cases, members of the family would like to retain some form of control over the family assets, and wouldn\u2019t simply like to transfer the ownership to a trustee. The concept of a family trust comes into play, where the family members are part of the board of the trust company which will own the assets.<\/p>\n

These type of structures could also take the form of a family office whereby investment managers and advisors manage the assets of the family through one of the above mentioned structures.<\/p>\n

Family office or estate planning structures are becoming more popular for a number of reasons. Firstly, many individuals and families are seeing the value in bringing in an external advisor to manage the family wealth. This is of particular value when the relationship between certain family members is starting to break down, and also when the family assets are at the second or third generation. Typically, at this stage, in view of the number of individuals involved, bringing an external advisor in has resulted in considerable benefits, both in terms of protecting and increasing the wealth, but also with regards to managing family dynamics.<\/p>\n

Secondly, external advisors who manage the wealth are professionals and licensed by a regulatory body \u2013 two aspects which should never be underestimated. Managing, or owning any type of wealth for the benefit of others, is not an easy task, and requires both expertise in the subject area and also experience in managing similar portfolios. The benefit and added value which these individuals bring to the family is priceless. Many wealthy families who opted not to bring in external advisors on board, have seen their wealth dissipate and the relationship between family members breakdown.<\/p>\n

As the world of finance, and relationships, become more complex, we will continue to see the use of family offices or estate planning vehicles increase as families will continue to trust external advisors to take care of their assets for the benefit of their heirs.<\/p>\n

The writer is a co-founding partner of Seed, an internationally focused research-driven advisory firm based out of Europe (Malta) and the Middle East.<\/p>\n

For More News And Analysis About Rwanda<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Rwanda. In recent years we have seen an increase in structures being set up, not simply for operational or business purposes, but for wealth and asset protection. In most cases, this wealth and assets are owned by a family, who would like to structure their affairs in a manner which protects the assets, […]<\/p>\n","protected":false},"author":84,"featured_media":3678,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,28,31],"tags":[760,763,2338,2337,758],"class_list":["post-3679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","tag-africa-press","tag-africa-press-rwanda","tag-family-office","tag-rise","tag-rwanda"],"yoast_head":"\nThe rise of the family office - Rwanda<\/title>\n<meta name=\"description\" content=\"In recent years we have seen an increase in structures being set up, not simply for operational or business purposes, bu ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The rise of the family office\" \/>\n<meta property=\"og:description\" content=\"In recent years we have seen an increase in structures being set up, not simply for operational or business purposes, bu ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office\" \/>\n<meta property=\"og:site_name\" content=\"Rwanda\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-02T10:55:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-02T11:26:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2021\/11\/img-6181202a7bb67.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"847\" \/>\n\t<meta property=\"og:image:height\" content=\"491\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"The rise of the family office\",\"datePublished\":\"2021-11-02T10:55:32+00:00\",\"dateModified\":\"2021-11-02T11:26:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office\"},\"wordCount\":499,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/rwanda\/sites\/23\/2021\/11\/img-6181202a7bb67.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Rwanda\",\"family office\",\"rise\",\"Rwanda\"],\"articleSection\":[\"all news\",\"homepage-english\",\"Miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office\",\"url\":\"https:\/\/www.africa-press.net\/rwanda\/all-news\/the-rise-of-the-family-office\",\"name\":\"The rise of the family office - 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