The past decade has seen an explosion in the number of family offices set up by families seeking to coordinate and organize family wealth and assets, as well as issues involving the intergenerational transfer of family legacies. This growth in family offices in turn has given rise to the assessment of what the duties are of the family office, manager and individuals employed by a family office to oversee all categories of duties which family offices are supposed to perform. Unfortunately, many family offices have seen family fortunes dissipated through poor investment advice, mismanagement and fraudulent activities, including theft and embezzlement. We are seeing these cases in our practice here and it is a worrisome trend indeed.
We offer a free initial consultation to beneficiaries of a family office who feel they may have been victimized. For a free initial consultation, contact the Law Offices of Timothy J. O'Connor at (518) 426-7700.