As your family office continues to grow and expand its reach, there are likely more and more complex business and legal matters to handle on a daily or weekly basis. Hiring an experienced in-house counsel professional for your family office gives you peace of mind knowing that business and personal matters, as well as any problems or legal issues that arise, will be taken care of.
With a trustworthy and well-versed attorney as part of your family office executive management team, you’ll have someone on your side to support your business objectives and strategic goals and provide top-tier legal advice. This can be truly invaluable!
The Benefits
In-house counsel provides faster response to legal matters.
Whether you’re drafting contracts, reading through the fine print of new investment opportunities, or negotiating new contracts with clients, in-house counsel can answer questions and review documents quickly. When compared to external counsel, this is a huge benefit when it comes to the overall efficiency and expediency of your family office.
In-house counsel can help save your family office money.
Hiring external counsel by the hour can be very expensive. Hiring in-house counsel is often a more cost-effective way to obtain the legal expertise you need, while also giving you the reliability you need all year long.
In-house counsel serves as an advocate for your family office.
Having a team that understands and supports the vision of your family office is key to its success. When you hire a trusted in-house counsel person, they can see how decisions will impact the entire family office, including your investments, estate planning, and other interests.
They will work alongside you to ensure you, and your executive team make choices that will withstand the ups and downs of the economy, so you can meet your strategic goals.
What to Look For
Your in-house counsel will serve as a legal advisor for your family office and must be able to navigate various legal and regulatory matters, while also understanding the inner workings of your portfolios or other client matters.
The ideal candidate will need to be adaptable and willing to jump into help with various issues that may arise – whether it’s a difficult or sensitive family dispute, compliance oversight, structuring tax liabilities, or navigating family trusts or family estates. Here are some key qualities to look for when hiring in-house counsel for your family office.
- Strong interpersonal skills: Apart from being a skilled lawyer, your in-house counsel must be able to relate well to the people around them – the executive team, clients they are working with, family members, and more. Family offices often have complex family relationships that will need counsel on succession planning, wealth transfers, and more. Therefore, they need to be able to step in without reserve to handle delicate situations and listen to both sides with grace, patience, and a willingness to find a solution.
- Great communication skills: To ensure the rest of the family office team and stakeholders stay informed, your in-house counsel needs to be able to explain confusing or complex legal matters in a way that everyone understands.
- Proven legal expertise: We recognize that every family office is different and may not require all the same services or expertise. In general, however, your legal advisor should bring experience in some or all of the following: wealth management for high-net-worth individuals or families, tax law, estate planning, asset protection, corporate law, or family law.
Hire In House Counsel
Ready to expand your team and hire an adept attorney who’s able to serve as your legal advisor for your family office? We have the expertise you can count on to find a highly trained and specialized attorney who will serve your family office with integrity, motivation, and creative vision.
Our team at Household Staffing works closely with you to develop a comprehensive job listing that includes all roles and responsibilities for your hire. This listing is published on our extensive network of candidate recruitment job boards, ensuring your job attracts the most experienced in-house counsel candidates.
Upon application, we personally review each candidate before they are introduced to confirm their capabilities meet or exceed your requirements. Our detailed and personalized process helps us to get to know our clients, as to ensure we have a good understanding of your family office culture.
Contact us today to get started on the hiring and interview process. We look forward to working with you!
