What Information Should a Family Gather Before Planning a New Office?

Start by recording what the family wants the office to do and how things work today. In my experience, the family should discuss its goals and values before settling on a structure. Record why the family is considering an office, which arrangements it uses, what works, and where service or coordination has fallen short.

Map the Family's Needs and Decisions

Ask for input from the people who will be affected. Clarify which generations and branches the office may serve, what support they expect, and who will make decisions. Identify areas such as investment oversight, reporting, administration, family governance, and personal services, keeping the list tied to actual needs. The family compass process can help turn values and objectives into a shared direction.

Note where views differ, too. Families may have different expectations about who qualifies for support, how family members participate, and which matters remain private. These questions can be sensitive, so record them for discussion instead of assuming everyone agrees. For legal or tax specifics, talk with your attorney or CPA.

Understand the Work and Resources

Inventory the work the office may need to handle. List recurring responsibilities, who handles each one now, the information and systems involved, and any deadlines or handoffs. Include outside advisers and providers, the services they deliver, and any difficult or duplicated coordination. This helps distinguish a capacity gap from a preference for a different arrangement.

Gather a high-level view of the family's assets, entities, operating businesses, and locations relevant to the work. This is to understand complexity and service demands, not to settle investment or legal questions in a planning document. Note the expertise already available among family members and employees, as well as from advisers and potential board members. Then identify missing capabilities. The provider review can help assess which needs may be met externally.

Plan for Disruption

Consider likely and extreme events that could interrupt family or office operations. The source material suggests scenarios such as a recession, a death in the family, a lawsuit, or a change in industry norms. For each, record the first steps, who has authority to act, and which experts would be needed. This can reveal gaps in the advisory group or core team before they become urgent.

Bring the findings together in a short planning brief covering agreed priorities, open questions, current resources, missing expertise, and constraints such as confidentiality or preferred ways of working. Use it to evaluate possible structures and the office's first responsibilities. The single family office fundamentals and readiness score can support that discussion. The goal is to trace choices to what the family has learned.

The number one strategic priority in this first phase of setting up a single family office should be creating the strongest brain trust possible for the family.

Sources: How to Start a Family Office, The Single Family Office. Informational only, not financial, legal or tax advice.