7 More Family Office Resources:

• Non-Discretionary Account Family Office Definition: Non-Discretionary Account Non-Discretionary Account definition:  A non-discretioary account retains control and decision-making with the client. The financial advisor may offer suggestions and input, but the client must make the final decision. Download ...
• Unified Managed Account Family Office Definition: Unified Managed Account Unified Managed Account definition:  A unified managed account (UMA) is a privately managed account that combines several different types of securities, such as stocks, bonds, mutual funds, and ...
• Separate Account Family Office Definition: Separate Account Separate Account definition:  A separate account is managed privately for an individual, as opposed to mutual funds which are managed collectively.  Separate accounts typically have higher investment minimums to ...
• Unified Managed Household Account Family Office Definition: Unified Managed Household Account Unified Managed Household Account definition:  A unified managed household account (UMHA) is a privately managed account that combines several different types of securities, such as stocks, bonds, ...
• Taxable Account Family Office Definition: Taxable Account Taxable Account definition:  Taxable accounts are good candidates for leaving to heirs because the holdings are stepped up in basis at the date of death.  Heirs will not be ...
• Health Reimbursement Account Family Office Definition: Health Reimbursement Account Health Reimbursement Account definition:  A health reimbursement account reimburses employees for medical expenses.  The family business can use health reimbursement accounts to cover family member employee's health expenses ...
• Tax-Deferred Account Family Office Definition: Tax-Deferred Account Tax-Deferred Account definition:  Tax-deferred accounts include IRAs, deferred annuities, and 401(k) plans. Tax-deferred accounts benefit from tax-free growth until withdrawals are made. The ideal use of tax-deferred accounts is ...