Family Office Services

Family Office Services

Overview

We provide integrated legal services to family offices to protect wealth, facilitate growth, and manage governance from generation to generation.

Family Office Formation and Governance

Management of family wealth is a complex business. High net worth families increasingly address this through the use of family offices. A family office can serve a wide variety of functions, from investment management, strategy, and oversight, to accounting and payment services, to coordination of tax planning and financial reporting, and education and stewardship of the next generation.

Regardless of a family office’s focus, it operates as a private company, owned and managed by individuals. For more than a century, integrated services to private companies and their owners have been a core part of Schiff Hardin’s practice.

We understand the unique challenges that can affect all aspects of the business life cycle of family-owned businesses. We are proud to have represented many established private companies through several generations of owners, helping them execute their vision, and counseling each generation as they assume responsibility over and continue to grow the business.

We apply our experience together with best in class tax and estate planning to help clients create family offices, design their governance structures, determine appropriate compensation models, and facilitate managing their family’s investments.

Coordinated Legal Services

Our attorneys work together across practices and offices, allowing families to benefit from coordinated access to the wide array of resources and capabilities we provide. These include:

  • Corporate Governance
  • Investment Regulatory Compliance
  • Real Estate Investments
  • Life Events and Milestones
  • Succession Planning
  • Educating the Next Generation
  • Tax and Estate Planning
  • Private Trust Companies
  • Trust Administration and Fiduciary Risk Management
  • Labor and Employment
  • Mergers and Acquisitions
  • Employee Benefits and Executive Compensation
  • Awards & Honors

    • Chambers High Net Worth
      • Private Wealth, National and Illinois (2016-2021)
    • Chambers USA
      • Wealth Management, Nationwide (2011-2016)
    • U.S. News – Best Lawyers® “Best Law Firms” – National Tier 1
      • Trusts & Estates Law (2014-2021)
      • Corporate Law (2020-2021)
      • Mergers and Acquisition Law (2020-2021)
    • U.S. News – Best Lawyers® “Best Law Firms” – Metropolitan Tier 1
      • Closely Held Companies and Family Businesses Law, Chicago (2020-2021)
      • Corporate Law, Chicago (2020-2021)
      • Mergers and Acquisition Law, Chicago (2019-2021)
      • Trusts & Estates Law, Chicago (2012-2021)
      • Litigation - Trusts & Estates, Chicago (2013-2021)
    • The Legal 500 United States – Recommended Practice Group
      • M&A/Corporate and Commercial:  M&A – Middle- Market (2015-2021)
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Schiff Advises Cresset in Merger with Berman Capital Advisors

Schiff Hardin LLP advised Cresset Asset Management, LLC in its merger with Berman Capital Advisors, LLC, creating a $19.8 billion multi-family office serving clients from 11 offices across the country. MORE

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Schiff Hardin Joins the Family Wealth Alliance

Schiff Hardin LLP is pleased to announce its membership in the Family Wealth Alliance (FWA), a multifamily wealth organization whose member firms serve approximately 7,000 private families around the country and advise on approximately $2.5 trillion of assets. MORE