Family Office Services |
Individuals and families with accumulated wealth often decide to form a private organization – known as a “family office” – to manage investments, trusts, and financial and legal services.
Family offices take many forms and may include a single family or multiple families. These entities frequently hire executives to manage a broad array of investments and services, from legal, accounting, and financial services to issues surrounding general lifestyle, travel and personal assistance for family members. Whatever the form, a family office faces unique, challenging issues. These often include such things as handling personal matters for family members, income tax and estate planning strategies, liability protection, entity creation, state and federal securities and accounting compliance issues, among others.
Perkins Coie has a long history of representing family offices and quasi-family office arrangements. Our team of attorneys has a wealth of experience assisting individuals and families who wish to establish and administer family offices or other similar structures. We regularly help clients analyze succession issues and solve complicated legal challenges that enable families to achieve the goals of their family office. We collaborate with family members and family office advisors who need support in a variety of different disciplines, including:
- Estate, gift and generation-skipping transfer tax planning
- Income tax planning
- State and local tax planning
- Trust management, review and advisory services
- Dispute resolution services, including experienced litigation support
- Tax-exempt organization creation and ongoing management
- Entity and asset pooling for investment purposes
- State and federal securities regulatory compliance for family offices
- Private trust company formation and advice
- Fiduciary accounting and systems issues
- Family privacy and intellectual property protection
- Entity creation and ongoing management services
- Liability analysis and protection
- Business succession services
Our lawyers believe that we must invest in each relationship because our counsel is greatly enhanced when we thoroughly understand our client's business interests and personal priorities. To that end, when we begin working with family offices we visit the office and learn about our client's business and personal interests at no charge. Additionally, depending on a client's needs, we may form a multidisciplinary team that includes a client service leader dedicated to ensuring the success of the relationship.
Further, we view the billing process as one of the most important ways to communicate with our clients and as a way for our clients to review our work on a regular basis. We collaborate with family office leaders to structure billing arrangements that promote the best interest of a long-term relationship and make sense to family members.
Lawyers in our family office services group come from many disciplines and offices throughout the firm. Our lawyers are leaders in related professional organizations, take proactive roles in legislative and regulatory activities that impact family groups and share knowledge and insight about key issues that affect our family office clients.
We welcome the opportunity to meet with prospective clients to discuss how we can be of assistance to them. Please feel free to contact any of the attorneys in the group for additional information.