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Few single family offices and multi-family office providers were ready for the stress test of the past 18 months. The sudden changed situations in which families found themselves caused cracks, and even breakdowns, in the manner in which families and their wealth were managed. Family office leaders observed significant changes families made to their family office operational processes...
The Isle of Man - A sanctuary for your family's legacy
Turnstone along with Finance Isle of Man will be in Sandton, South Africa on the 8th of October, from 9:30 to 14:00, to present a morning seminar.
The theme for the day will be: "The Isle of Man - a sanctuary for your family’s legacy."
The renowned author Maya Angelou wrote: “If you’re going to live, leave a legacy. Make...
The use of offshore companies to purchase real estate
Since our establishment in 2005, Turnstone (Isle of Man) has acquired real estate, including both residential and commercial property, in numerous countries for our clients. For each acquisition, a company has been used, and the purpose of this brief article is to examine the benefits of using a company to buy property.
When contemplating an investment in real estate, the investor...
Entrepreneurial family leadership promotes the business
Leadership is one of the key characteristics of family businesses which continues to prosper through generations. Although there are numerous leadership roles within the family and its business which needs to be filled, the family should not neglect how they are managed and how their governance structures interface with the governance structures of the business. Leadership together with management and...
Family Leadership - Growing the family business without investing in the family is a sure disaster.
A family business, by its very nature, is often envisaged as indefinite and lasting. Families may initially confuse the original business, in other words the family’s wealth, as the legacy of the family. It becomes clear, with time, that the true wealth of the family, is the family itself. The business forms the capital base on which the family build.
An...
What does an effectively managed Trust look like?
It may surprise you to learn that Trusts started in the 12th Century; an English landowner would go off to fight in the Crusades and sign over his land to a trusted person, placing his trust in them to keep the land and property safe until his return.
A Trustee carries the responsibility of...
Private Trust Company. The basis of the family's legacy.
Introducing Private Trust Companies
Private Trust Companies are created to be the platform from where a family is governed; they are the forum where a family makes decisions regarding its business or investments and from where the family manages itself.
The Private Trust Company:is the owner of the family’s assets and is responsible for managing the personalities in the business and family...
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