Elaine King, renowned expert in family governance and business, led a panel at the 5th Annual Global Private Wealth Forum in Miami. This is one of the most prestigious conferences for wealthy individuals and families in the area.
The panel discussion she led focused on Wealth Planning and Family Governance. Panelists included Carles Farre, partner at KPMG Taxes, Carlos Soto, Wealth Planning Director at EFG Private Bank, and José Luiz Flores de Cunha, a Wealth Management Advisor at W Advisors bzl.
Through questions, the panelists addressed important challenges about managing family wealth. For example, the cultural practice of the father always being in charge of all of the assets without input from his adult children or spouse, is one problematic dynamic to avoid. Instead, the experts recommended that decision making processes should be inclusive and transparent.
Furthermore, panelists explained some of the best practices regarding taxes, such as knowing liabilities, risks, and what the tax authorities are targeting today.
Additional topics such as family governance structures, trust laws, and succession practices in different countries were also discussed.
Thanks to her international experience and expertise in these topics, King was able to guide the discussion to providing practical insights for the audience, which included family offices, wealth managers, high-net-worth individuals, investment advisors, and more.