7 More Family Office Resources:

• Simple Will Family Office Definition: Simple Will Simple Will definition:  A simple will usually consists of one document for a relatively small estate and does not include a testamentary trust. Download our free Family Office Report to learn ...
• SEP IRA Family Office Definition: SEP IRA SEP IRA definition:  A SEP IRA is a tax-deferred retirement savings vehicle for self-employed or small (family businesses). SEP stands for Simplified Employee Pension. Testing and compliance associated with ...
• Independent 401(k) Family Office Definition: Independent 401(k) Independent 401(k) definition:  An independent 401(k) is a tax-deferred retirement savings vehicle for self-employed (family business owners). No outside employees are permitted, only immediate family members. Testing and compliance ...
• Required Minimum Distributions Family Office Definition: Required Minimum Distributions Required Minimum Distributions definition:  Required minimum distributions are calculated (using fair market value and life expectancy) and applied to the owners of traditional, SEP, and SIMPLE IRAs at ...
• Medical Savings Account Family Office Definition: Medical Savings Account Medical Savings Account definition:  A medical savings account (also called Archer MSA) is a tax-exempt savings vehicle for medical expenses for self-employed individuals (or small business or family ...
• Health Savings Account Family Office Definition: Health Savings Account Health Savings Account definition:  A health savings account (HSA) is a tax-exempt savings vehicle for medical expenses. Family members may make contributions on behalf of other individuals. Money ...
• 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 ...