Charles Lowenhaupt is chairman and CEO of Lowenhaupt Global Advisors, a North American family office based in St Louis, Missouri. He is also Managing Member of Lowenhaupt Global Advisor's affiliated firm, Lowenhaupt & Chasnoff, LLC, the first US law firm to concentrate in tax law and established by Lowenhaupt's grandfather in 1908.
Are you able to answer what purpose your wealth has? In this Q&A, the first in a regular series, Charles Lowenhaupt reflects on how family wealth has enabled a generational tradition of helping and counselling others – while reaching self-actualisation in the process.
There seems to be a growing feeling that traditional family offices are failing families of substantial wealth. Family office executives talk about the revolving door of employment; family members are trying harder and harder to find the model that should work for all families; and new conference companies sprout like weeds to offer advice to family offices.
Increasingly, business families have become enslaved with the role of wealth preservation for future generations. Charles Lowenhaupt asks whether it may be more rewarding to focus on the human issues of wealth, recognising the benefits rather than the burdens it can bring
Charles Lowenhaupt explains how US families can use ‘dynasty trusts’ to ensure their business and financial legacy lives on beyond their generation – but the real key is finding the right trustee wealth steward to manage the assets beyond the benficiaries’ lifetime
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