NTA2213. Does Your Family Need an Office: Legal and Tax Structures in Organizing or Restructuring a Family Office

This session reviews the origins of Family Offices in the United States; the current regulatory structure(s) that support high net worth and ultra-high net worth families; and the services provided to those families. During this presentation, participants will be provided with practical advice and high-level tax guidance in the design and implementation of a family office as well as establishing, and working with, collaborative teams. A case study will be reviewed illustrating the various stages of the development of a family office.

Topics covered will include charitable tax planning, family limited liability companies, family limited liability partnerships, family social media policies, grantor and non-grantor trusts, philanthropy, qualified plan design, risk management and insurance, trust reformation, and wealth management.

Learning Objectives:

• Identify the various types of family office structures.
• Determine risk management solutions for multiple businesses controlled by a family office.
• Apply private family foundations and charitable contributions to mitigate standard deviation in an investment portfolio.