

The Critical Importance of Having the Proper Legal Structures in Place in Order for a Family Office to Endure for Multiple Generations with Tom Handler, Founder and Managing Partner of Handler Thayer, LLC.
7 snips Jan 2, 2020
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Defining Family Offices
- A family office is a legally organized enterprise focused on long-term wealth management.
- It enhances wealth preservation and growth for a specific family.
Key Family Office Initiatives
- Family offices prioritize legal structure and compliance due to changing laws like Dodd-Frank and FATCA.
- Many existing family offices are outdated and not optimized for tax and estate planning.
The Lender Case
- The Lender case involved a family office's deductions for investment expenses being challenged by the IRS.
- The IRS ultimately ruled in favor of the Lender family, setting a precedent for legitimate family office deductions.