Advising families with sophisticated needs
Indiana Law's family office program — the first of its kind anywhere in the U.S. — prepares lawyers for careers in family offices and firms with family office service practices.
The family office program
Indiana Law's new family office program provides training for students interested in working for family offices and firms with family office service practices. The Law School is the first in the United States with a program focused specifically on this growing phenomenon.
Family offices are capable of conducting sophisticated transactions that were traditionally the province of big companies or private-equity firms, and they also provide a complete range of traditional estate-planning, real estate, tax planning, and wealth-advising services. Family offices are estimated to hold assets exceeding $4 trillion, and a significant number of the most prestigious law firms have established family office practices. By capitalizing on this trend, the Law School is helping meet the growing demand for lawyers by offering a wide range of courses, placements, and mentoring experiences.
The law school plans to admit about five highly credentialed students to the new program beginning in the fall of 2020. Qualified candidates will either have experience in the business or investment field or an interest in earning a JD/MBA. Students admitted to the program will receive:
- A scholarship equal to at least 50% of tuition up to full-tuition scholarships;
- A mentor from the program’s advisory council;
- A second-year research assistantship with the school’s business or tax law faculty;
- A third-year clinical position with one of the school’s business-related clinics.
The Law School expects to be able to offer students in the program summer placements and other positions with family offices, law firms, and other organizations with family-office service practices. The school also plans to develop a one-week intensive course during fall break in Chicago focused on family office practice and services.
Students admitted to the program will benefit from a range of other opportunities, including taking courses at the Kelley School of Business and participating in the school’s Business Law Society, Tax Law Society, and transaction drafting competitions.
Professor Brian Broughman, an expert on corporate law, corporate finance, and mergers and acquisitions, will serve as director of the program. He will be supported by Professor Mark Need, who oversees the Elmore Entrepreneurship Clinic and the school’s JD/MBA program. The school is in the process of naming affiliated faculty to design and teach family office–related courses. An advisory council to advise the school and serve as mentors to students will also be appointed.
Students interested in applying to the family office program should contact Greg Canada, assistant dean of admissions, at firstname.lastname@example.org.