The skills integration and mindset of the staff within the firm has been an asset and High Net Worth clients seek comfort in that all their financial needs, end to end, both in their business and their personal wealth for the ultimate benefit of their families, are provided for in one office. In the final analysis both the clients and their families know that their affairs are handled by one family office.
From experience, Garach Corporation has advocated the philosophy that family wealth is created over generations, however to protect their wealth it may be necessary for High Net Worth Individuals and Families to obtain professional advise & opinion on the following aspects:
- Are my business structured in the appropriate entities?
- Are my business properly managed?
- Are the tax affairs of the group in order?
- Are my personal assets structured in the appropriate entities?
- Is my wealth growing over time?
- Are my tax affairs in order?
- Are the trust(s) that have been set up, properly managed?
- Are my beneficiaries properly reflected in my insurance and investment policies?
- Are my financial affairs all up to date?
- Is my Last Will and Testament structured in a manner that will cater for the needs of my family?
- Will my estate be properly administered when I die?
- Is my tax bill minimised during my life and also upon my death?
- And finally, does my Will, family trust, insurance policies and personal assets and liabilities all tie up?
The firms holistic approach brings together the various disparate segments of a client’s business and personal wealth in a manner which is clearly understood by the client. Garach Corporation, in addition to the multi-disciplinary professionals under one roof, has designed software known as the Smart File to help High Net Worth clients grow their wealth and create a family legacy. The Smart File concept – the brainchild of Professor Dilip Garach – is an electronic storage of information, documentation and reports to ensure that the financial well-being of High Net Worth clients is protected both during their life-time and for their family after death.