Family Offices

  • Work as a Collaborative Team with Family Members, Legal, Trust and Estate, and Investment Counsel to Advise on all Aspects of Wealth Management

  • Individual and Specialized Entity Bookkeeping and Accounting, including Private Foundations

  • Bill Payment, Wire Transfers, Cash Management

  • Consult on Optimal Internal or External Bill Payment Systems to Streamline Segregation of Costs

  • Financial Reporting

    • Weekly, Monthly and Quarterly Reporting for the Family or for Family Businesses

    • Consolidated Reporting and Tracking of Investment Assets

    • Management of Capital Calls, Stock Distributions, Tax Basis

    • Tracking of Company Stock and Stock Options

    • Net Worth, Cash Flow Analysis and Other Specialized Reporting

    • HR Functions

    • Payroll; Benefits Administration; Assistance with Recruiting, Staffing, Background Checks, Employee Evaluations

  • Management of Real Estate Projects; Financial Accounting; Budget; Vendor Management

  • Trust and Estate Planning

    • Implementing Philanthropic, Family Legacy Goals and Wealth Transfer Strategies

    • Working with Counsel to Establish Private Foundations and Other Structures

  • Sophisticated Tax Advice, Planning and Compliance Specifically for Family Offices

  • Preparation of Complex Partnership, Corporate, Trust, Foundation, Gift and Individual Income Tax Returns for all Family Office Entities and Members

  • Determination of Quarterly Estimates for Trusts and Family Members

  • Manage Streamlined and Timely Access to Hedge Fund and Private Equity K-1s; Year-End Tax Estimate Letters; Tracking and Preparation of Other Tax Related Documents

  • Review of Income and Transfer Tax Consequences Associated with Various Investment and/or Other Transactions

  • Expertise in all Foreign Holding and Investment Related Disclosures Required for Entities, Trusts and Family Members

  • Expertise in Multi-State Filings and Issues

  • Expertise in Family Limited Partnerships and Other Investment Partnerships That Have Carried Interest Allocations

  • Determination of Trust Accounting Income vs Principal Associated with Flow-Through Income of Fund of Funds Investment Partnerships Owned by Trusts

  • Advising on Qualified Small Business Stock and Optimal Integrated Income and Transfer Tax Planning

  • Expertise with Special Assets such as Private Jets and Associated Tax Treatment

  • Expertise and Assistance with Tracking of Tax Basis for All Partnership and Other Investments including Tracking of Section 754 Step Up Basis Specific to Certain Interests

  • Federal and State Income Tax Examinations and Inquiries

  • Advise, Design and Implementation of a Wide Range of Special Projects including “What If” Scenarios

  • Setting up a family office 

    • Family Office Management Company Structuring Including Ownership Structure

    • Optimal Management Fee Arrangements Including Allocation of Fees and Other Operating Expenses Among Taxpaying Entities and Individuals Served by the Family Office, etc.

    • Clarifying Philanthropic Missions; Setting up the Optimal Structure Including Guidance on When to Use Private Foundations vs. Donor Advised Funds for Certain Donations of Appreciated Holdings

    • Determining Operational Model, Staffing Requirements, Job Descriptions

    • Setting Up Accounting Systems; Establishing Procedures and Quality Control

    • Internal Control Reviews and Risk Assessments of Your Family Office Operations