We basically offer two important areas in our office. One is Real Estate Law and the other one is the Family Office. Today on this post we will explain what is included in our Family Office service. As per our experience, normally people do not ask for details about a Real Estate transaction as this is a well-known area. However, in several occasions we’ve been asked for more details about the Family Office.
Family Office is a service for families that – due to their business volume, their business assets or the sale of assets of the company have to manage Real Estate wealth or financial assets, with the goal of a good management in order to maintain or usually increase the value of them.
For creating a Family Office we need a minimum size of wealth and financial volume, and once it is created it must be self-sufficient and generate its own profit. The legal form may depend on different aspects, but normally we create a company with limited liability (Ltd.)
Bufete Mercadal is specialist in services for families and/or family members for increasing their personal or shared wealth. Our market studies show us the best alternatives for a person or family in order to increase or maintain its wealth.
This service also includes finding the best family structure for being able to take decisions, which is a key factor for the future success. In most cases, the family runs in the second or third generation and it is important to have a structure that allows an easy way to operate and to take decisions in the correct way. This is why sometimes a Family Council is needed as well as an Strategic Family Plan with concrete targets, differentiating between the business management and the management of the financial or Real Estate wealth.
One important point of our business culture at Bufete Mercadal is that we like to be in control of the details. We offer a service with personal involvement because we want our customers not only to know that they are in the best hands but also make them feel it. This is very important in the Family Office as we usually deal with a permanent and solid relationship based on trust.
We also offer Family Office services to members of the family. This may include assistance in areas such as Real Estate transactions, taxes, insurances, travel, accounting etc.
Upon the definition of Ivan Langsberg´s book Succeeding Generations, “Family Office is an independent operative unit that, by use of instruments for managing the relationship family and business, allows the family to invest its wealth as one whole and at the same time to increase its acquisition power and optimize the financial costs through a centralized planning”.