7 More Family Office Resources:

• Durable Power of Attorney Family Office Definition: Durable Power of Attorney Durable Power of Attorney definition:  Durable power of attorney is a legal document giving authority to an individual to act on your behalf. The document should detail ...
• Attorney-In-Fact Family Office Definition: Attorney-In-Fact Attorney-In-Fact definition:  The person chosen to act on your behalf in a durable power of attorney document is called the attorney-in-fact. For example, this person can make gifts, sell property, ...
• “Crummey” power Family Office Definition: "Crummey" power "Crummey" power definition: Terms of a trust that allow beneficiaries to withdraw contributions to the trust for a limited period of time.  Gifts made to a trust are normally ...
• Advance Directive Family Office Definition: Advance Directive Advance Directive definition:  An Advance Directive is a critical document along with a will.  This document defines the end-of-life and critical care wishes of the owner (for example, views on ...
• General Power-of-Appointment Marital Trust Family Office Definition: General Power-of-Appointment Marital Trust General Power-of-Appointment Marital Trust definition:  A general power-of-appointment marital trust is a type of marital trust that provides lifetime income to a surviving spouse. The surviving spouse ...
• Inflation Risk Family Office Definition: Inflation Risk Inflation Risk definition:  Inflation risk refers to the power of inflation to erode the real purchasing power of cash or an asset. If the return on an asset does ...
• Fiduciary Powers Clause Family Office Definition: Fiduciary Powers Clause Fiduciary Powers Clause definition:  A fiduciary powers clause is a statement in a will outlining the powers of the named fiduciaries. Download our free Family Office Report to learn more ...