7 More Family Office Resources:

• Beneficiary Designation Family Office Definition: Beneficiary Designation Beneficiary Designation definition:  Beneficiary Designation refers to the act of naming one or more individuals (or charities) to be recepients of your assets upon your death. Download our free Family Office ...
• Primary Beneficiary Family Office Definition: Primary Beneficiary Primary Beneficiary definition:  The primary beneficiary is the first in line to receive assets. It can include more than one person with percentages designated for each beneficiary. Download our free ...
• Absolute Beneficiary Family Office Definition: Absolute Beneficiary Absolute Beneficiary definition:  An absolute beneficiary is an irrevocable beneficiary that cannot be changed without written consent from said beneficiary. An absolute beneficiary may be named on trusts, life ...
• Contingent Beneficiary Family Office Definition: Contingent Beneficiary Contingent Beneficiary definition:  A contingent beneficiary does not receive assets unless something happens to the primary beneficiary. Their interests in the property are subordinate to the primary beneficiary. Download our ...
• Per Stirpes Designation Family Office Definition: Per Stirpes Designation Per Stirpes Designation definition:  When one beneficiary is deceased, their portion is transferred to their heirs, rather than redistributed to any other beneficiaries named. For example, your son ...
• Disclaimed Property Family Office Definition: Disclaimed Property Disclaimed Property definition:  Disclaimed property is unwanted or refused by the beneficiary. The beneficiary may disclaim property to avoid taxes or expenses associated with the inheritance. A will should ...
• Installment Sale Family Office Definition: Installment Sale Installment Sale definition:  An installment sale occurs when the grantor loans an appreciating asset to a grantor trust. No gift taxes apply if the loan terms are at market ...