Managing your wealth may be a time-consuming operation which takes up precious time that cannot be spent on business, family, or hobbies.
Over the years you may have made numerous arrangements such as prenuptial agreements, wills and testaments and may have set up private holding companies, family foundations or trust arrangements. Possibly you have invested in real estate and/or have to manage an investment portfolio.
At the same time you will receive lots of correspondence and requests from your advisors and need to have regular meetings to be updated on the latest developments. Keeping track of it all has become an administrative job in itself. And once everything seems to be properly arranged, changes in law, investment results, or family relations may prompt new action.
Although you will be advised and assisted by all kind of advisors, you may experience that these advisors individually are not always fully up to speed with all relevant facts and circumstances involving you and your family. Perhaps you have one or more family members who are better informed, but you may feel uncomfortable involving them in (all) confidential matters.
It is in these situations that a family steward may be able to assist.