Business-owning families benefit from an independent financial management infrastructure, separate from their core operating business. Although many families are served by a family office within the business, separation allows a family’s advisors to “sit on the same side of the table” as the family. Vogel will create that separation and become Your Family CFO™ and integrate traditional family office services with those unique to business-owning families.
Business Consulting Services
Just as business executives represent different areas of a company, a family office serves the different interests of the family.
- Business structure consulting (S and C corporations)
- Company investment and diversification strategies
- Mergers, acquisitions and divestitures
- Succession planning and education
- Cash and debt management
- Business tax-planning compliance
- International tax consulting
- Compensation/deferred-compensation planning
- Board representation
Advanced planning for your estate is critical to preserving your wealth and efficiently transferring it to future generations.
- Irrevocable trusts
- Charitable trusts
- Dynasty trusts
- Trust decanting
- Customized estate diagrams
- Gifting guidelines
- Charitable records administration
- Foundation establishment
Access to monthly, quarterly or semi-annual accounting of income and expenses allows families to better plan for their short- and long-term needs.
- Cash-flow planning, with customized reporting
- Personal financial statement preparation
- Debt negotiation and management
- Arbitrage opportunities
- Real estate transaction management
- Philanthropic/gift accounting
Tax Consulting and Compliance
Understanding the tax implications of business organization options and investment and estate planning decisions is critical to maximizing planning opportunities.
- Inheritance tax
- IRS examination support
- Alternative Minimum Tax (AMT) planning
- Deferred compensation
- Options planning
- Quarterly estimates
- Federal and state tax planning and preparation
The family in the family business needs special attention. We help families manage planned and unplanned management and ownership transitions as well as broader family-education topics.
- Succession planning
- Definition of roles for family members not active in the family business
- Integration of nonfamily executives into a family business
- Next-generation education
- New spouse orientation
- Individual and small group topic-specific education sessions
- Third-party referrals
- Family council administration and governance
Business-owning families often are looking for diversification strategies. Vogel understands that families with a large portion of their net worth concentrated in their business must structure their investments to allow for short- and long-term liquidity and future business goals.
- Wealth diversification and alternative investment options
- Consolidated performance reporting
- Manager research and monitoring