Frequently asked questions - family office support & governance

Establishing a family office involves decisions around structure, location and control. Key considerations include jurisdictional benefits, tax and regulatory implications, and the family’s governance preferences. It is also essential to define the scope of services,  such as investment oversight, estate planning, and lifestyle management and to establish frameworks that reflect the family’s values, risk appetite and long-term vision.

Partnering with a trusted third party can significantly improve day-to-day operations and reduce pressure on in-house teams. Praxis supports clients by managing financial reporting, coordinating with advisers, and handling administrative and compliance responsibilities delivering greater cost-efficiency, resilience during change, and clarity across all stakeholders.

Effective governance supports unity, reduces the potential for conflict, and underpins responsible decision-making. Structures such as family councils, governance charters and scheduled meetings create a platform to express shared values, clarify roles and expectations, and steward wealth and assets across generations.

Secure coordination is essential in complex family office structures. Praxis acts as a central hub to manage data flow, documentation and communication between investment managers, legal and tax advisers, and other third parties. This approach protects confidentiality, avoids duplication, and aligns your advisory network around shared objectives.

A structured approach to education and participation helps younger family members gain experience and contribute meaningfully. We support initiatives such as junior boards, observer roles and philanthropic committees, encouraging early engagement and building a foundation for future leadership and generational alignment.

Continuity is achieved through strong processes, consistent documentation and reliable partnerships. We support families by institutionalising operations, facilitating succession planning, and providing steady guidance during change. Whether transitioning internal leadership or welcoming the next generation, our role is to ensure clarity and continuity at every stage.