Family Office World

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.

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Jan 2, 2020
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INSIGHT

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.
INSIGHT

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  • Many existing family offices are outdated and not optimized for tax and estate planning.
ANECDOTE

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.
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