As is the case with any sophisticated business enterprise, a family office will have a variety of legal needs to address in the course of its operations, and will need legal advice from specialists across a wide range of specific substantive legal areas. As family offices grow in sophistication and complexity, they will increasingly face a question that has long been encountered by other business enterprises. In a white paper republished in Financial Standard’s FS Private Wealth November 2019 newsletter, Dan Berick examines: What legal functions should be outsourced and what (if any) legal functions can be most efficiently brought in-house? What are the legal, regulatory and ethical considerations when deciding whether to outsource work or keep it in-house?
This article is posted with permission from Financial Standard Private Wealth. For more information, see https://www.fsprivatewealth.com.au/.