Helping you navigate the complexity of generational wealth.
Our approach seeks to ease the burden of oversight and complexity that accompanies significant family wealth. We sit at the center of your family’s financial picture, helping organize and implement a comprehensive plan for your family’s unique circumstances. We act as the conduit between all your financial professionals and help to develop and enhance the planning needed to achieve your long-term goals.
Preparing the Holistic Balance Sheet
Our process begins with requesting detail on your total assets, recent tax returns, trust documents, partnership documents, life insurance policies, list of residences, and any liabilities such as mortgages or lines of credit. We will analyze and synthesize this information to make sure that both we and you fully understand your holistic situation.
Establishing Your Family Goals & Objectives
Whether or not you have an idea of what you and your family hope to accomplish with your wealth, we will help you further define and enhance your family’s financial and philanthropic goals and objectives. We will seek to understand what is important to you. Once defined, we will then put a plan in place to help you achieve these goals.
Wealth Transfer & Estate Planning
We will help you develop your long-term estate planning goals and objectives and put an action plan in place to accomplish them. To do this, we will show you your current wealth transfer “snapshot” and identify where it may fall short of your desired objectives. We will then recommend strategies to accomplish your goals and objectives.
Cash Flow Management & Budgeting
We will understand and identify your cash flow from all sources, including salary, business, and investments. We will also understand your expenses, including debt payments and other spending. Measuring this information allows you to better manage to your overall plan, including growing your portfolio, preparing for large purchases, retiring, and gifting away assets.
Life Insurance Needs & Analysis
We will review your current in-force life insurance and understand how it fits into your overall plan. We will also recommend cancelling, replacing, or exchanging your policies if it is warranted.
Asset Protection & Risk Management
Wealthy families have different needs than the average household. Your property and casualty insurance will be reviewed to match you with the appropriate level of coverage and to recommend the best professional to fully understand and mitigate these risks for you.
Income Tax Planning
Income tax issues arise from various state, local, and international jurisdictions. Further complicating matters are trusts, locations of trustees, beneficiaries, and grantors. Family business assets often have their own income tax characteristics. Understanding and mitigating income tax exposure is paramount to achieving long-term financial goals.
Liquidity Event Planning & Transaction Analysis
Often, a company founder or his family has substantial stock in a company that has very little basis and makes up a substantial amount of their net worth. Before a family decides to sell their company, a thorough understanding of how best to do it is imperative. We will work to optimize this event as it is often a once-in-a-lifetime opportunity.
We will work with your family to understand your charitable goals and objectives. We will also help construct and enhance your personal giving program to optimize your family’s philanthropy. We will also monitor your giving to ensure it is done in a tax efficient manner.
Family Continuity & Education
If desired, we will work with you and your family so that everyone understands the plans that have been put in place. We will create an educational plan and facilitate family meetings to execute that plan.
Concierge & Lifestyle Enhancements
There are many activities that can be managed by someone else more efficiently. For instance, personal bill paying, domestic help and payroll, property management, and sourcing and securing of lending are common activities that are often outsourced and coordinated by our family office.