MISSION: Helping Wealthy Families Understand Their Finances”

Do you ever experience at least one of the “7 Deadly Sins” of Wealthy Families and/or Family Offices?

  1. INCOME TAX: income tax returns are on extension, not because you want them to be, but because they always seem to be.
  2. INCOME TAX PLANNING: income taxes are one of your largest expenses, but every year you either wind up significantly underpaid and thus subject to penalties, or significantly overpaid and thus a poor use of working capital.
  3. ESTATE/GIFT TAX PLANNING: uncertainty regarding future of estate tax has caused your wealth transfer tax reduction planning to enter a state of inertia.
  4. ACCOUNTING: accounting is always behind.
  5. GOVERNANCE: family stakeholders are grumpy because timely communication seems to be the exception not the rule, and professional service advisors seem to be incapable of collaboration.
  6. RESOURCE NETWORK: when new and or unusual resources are required, they do not seem to exist in your network.
  7. RISK MANAGEMENT: a shift from traditional assets classes to less liquid asset classes has resulted in negative surprises.

Working within the values systems and structures of your family and/or businesses, Richard, CPA, can assist with improving a variety of functionality gaps.

Remember, It’s Your Money, Not Theirs!”