Family conflict issues always pose considerable problems, whether they be caused by sibling rivalry, divorce, death or a serious illness of the head of the family. These are normally a result of a series of misunderstandings that were not dealt with at the time and have subsequently built up to be a very serious problem that has become impossible to solve for those involved. See links page to the article on Building a Family Vision.
Because of the explosion of the number of family offices that have been established in the last ten years there is enormous interest in their activities from governments, intelligence agencies, criminals, the media and disaffected extremist groups. Social media has exacerbated the problem and increased awareness of the perception of wealth inequality and “the super rich”. See links page to the article on Corporate Governance.
Both governments and fiscal authorities are seeking to regulate international family offices in order to improve their tax take. This has left families in vulnerable geo-political areas open to criminal, terrorist and cyber-security activities from both a personal and business perspective.
There is a perceived lack of good corporate governance and accountability within certain family offices, especially those based in Eastern Europe, South America and the Middle East. Money laundering is seen as a particular concern together with the use of offshore trust vehicles and other methods of concealing ownership or the hidden motive for such transactions.