What does a Family Office do?

 
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What does a Family Office do?

   
A formal center for managing and preserving family wealth.A Family Office exists to serve the financial and lifestyle needs of a family and its future generations. These needs range from investment management and household bill payment to art collection management and travel coordination.
 
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Basic services generally provided by Family Offices include:
  • Investment Monitoring and Pooling
  • Financial and Estate Planning
  • Personal, Partnership and Trust Accounting
  • Tax Planning and Preparation
  • Banking and Credit Management
  • Bill Payment
  • Trust Administration
  • Insurance Coordination
  • Family Communication and Meeting Planning

Additionally, some Family Offices provide:

  • Manager Selection and Oversight
  • Asset Allocation
  • Performance Measurement
  • Philanthropy/Foundation Support
  • Operating Business Consulting
  • Real Estate Management
  • Airplane/Boat Management
  • Travel Coordination
  • Educational Programs for Younger Generations
  • Nuptial Planning
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