7 More Family Office Resources:

• 408(k) plan Family Office Definition: 408(k) plan 408(k) plan definition: A 408(k) plan is a simpler version of the 401(k) plan for self-employeed or small (family businesses). Both employee and employer can make tax-deductible contributions. Money in ...
• 529 College Savings Plan Family Office Definition: 529 College Savings Plan 529 College Savings Plan definition:  A 529 college savings plan is a tax-advantaged savings vehicle for education expenses. Contributions to 529 plans for grandchildren (or other heirs) ...
• Profit Sharing Plan Family Office Definition: Profit Sharing Plan Profit Sharing Plan definition:  A profit sharing plan is a method for sharing business profits with employees by making discretionary contributions.  Profit sharing plans are defined contribution retirement ...
• Estate Plan Family Office Definition: Estate Plan Estate Plan definition:  An estate plan outlines the orderly distribution of your personal assets following your death. The plan may include caring for children, preserving wealth, minimizing taxes and ...
• Employee Stock Purchase Plan Family Office Definition: Employee Stock Purchase Plan Employee Stock Purchase Plan definition:  ESPP is a type of plan that allows employees (could be family members) to participate in business profits through the purchase of ...
• Employee Stock Option Plan Family Office Definition: Employee Stock Option Plan Employee Stock Option Plan definition:  ESOP is a type of retirement plan that allows employees (could be family members) to participate in business profits through the purchase ...
• 529 Prepaid Tuition Plan Family Office Definition: 529 Prepaid Tuition Plan 529 Prepaid Tuition Plan definition:  A 529 Prepaid Tuition Plan is a tax-advantaged method of purchasing education credits for grandchildren (or other heirs) at state schools. Tuition is ...