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We specialize in serving multi-generational families and can help you manage all aspects of your family’s financial life. In fact, many of our family client relationships have been in existence for over 30 years.
We get to know your family on a deeply personal level by asking tough questions, understanding complex family relationships and dynamics, and drilling down into the specifics of your family’s needs and goals. We examine your family’s financial situation from every angle — we look at the current financial state, identify future potential risks, and develop detailed financial plans that help meet your family’s needs/goals, foster peace of mind, and help position your family for financial success from one generation to the next.
To ensure that your family’s wealth is properly transferred to the next generation, we will help your family develop or revise estate plans to help minimize estate taxes. We will work with you and your attorneys to implement wills, trust documents, powers of attorney documents, and health care proxies. We will guide you through potential estate tax issues around gifts and the Generation-Skipping Transfer Tax (GSTT) rules. With our intimate knowledge of your assets and goals, we can recommend more sophisticated planning strategies and organize our assets to help maximize family wealth.
Once we explore and understand your family’s financial goals, we will evaluate your current investments. We will develop a suitable portfolio asset mix that can help meet your family’s needs over time, select the appropriate investment managers and manager structures and coordinate custody and brokerage services. We will help keep your family on track with regular reporting and monitoring, making portfolio adjustments as needed.
We will work with your family to develop tax efficiency in your investment portfolios and your estate plans. We can also help you plan and manage potential issues related to the Alternative Minimum Tax (AMT). We will also guide you through complex filings for trusts, foundations, family limited partnerships and other entities.
We can work with you and your insurance advisor to periodically review your insurance plans. Our review will help ensure that your coverage levels — for life, property and casualty, disability, and umbrella liability — make sense for your specific situation. For any new coverage you may need, we will assess the appropriate level and structure to meet your needs. We also periodically review your beneficiary designations to make sure they are up to date.
We know that leaving a family legacy is important to you. We can work with your family to establish its philanthropic mission statement and plan. We assist with family discussions and meetings to help bridge any philanthropic differences among the generations. We will help your family evaluate the various charitable giving vehicles such as donor-advised funds, private foundations, charitable trusts, and charitable gift annuities, as well as socially responsible/impact investing opportunities. We will guide you through the tax benefits and rules for each charitable vehicle, as well as develop portfolios to support your family’s charitable giving goals.
Families change over time and we can help you plan for those changes. For family members preparing for marriage, we can work with you and your family law attorneys to structure and implement pre-nuptial agreements, and other estate planning documents, to help protect your family’s assets. For children born or adopted into your family, we will help you to evaluate college savings vehicles, and review/update your insurance and estate plans to ensure that your new family members are provided for as you wish. If you are still saving for retirement, we can work with you to design a retirement portfolio to help meet your goals and preserve your wealth in retirement. If you’re nearing retirement or newly retired, we will work with you to develop a plan to help manage your income, spending, and assets in retirement.
Helping the next generation of your family learn how to manage wealth can be one of the greatest legacies you provide. We can help set up the next generation for financial success with targeted education ranging from tracking their cash inflows and outflows to establishing a realistic budget. We can help with multi-goal planning by developing savings strategies for home purchases, education and retirement. We will teach them the fundamentals of investing, as well as helping them establish their own estate, insurance, and philanthropy plans.