families risk loss of wealth without correct structures

Creating a family dynasty that is both focused in its intentions and united in its philosophy is of utmost importance for the future, says Caroline Garnham, partner in private capital at Lawrence Graham, a business law firm that advises clients globally.

According to Garnham, purpose, procedure and governance are the three key factors needed to establish stability in a family office for the future. Garnham said the family office structure must include a procedure that identifies how decisions are