7 More Family Office Resources:

• Transfer-On-Death Accounts Family Office Definition: Transfer-On-Death Accounts Transfer-On-Death Accounts definition:  Transfer-on-death accounts includes investment accounts (i.e. stocks, bonds, and mutual funds) and in some states, vehicles and real estate property. These assets can be transferred to ...
• Generation-Skipping Transfer Tax Family Office Definition: Generation-Skipping Transfer Tax Generation-Skipping Transfer Tax definition:  Assets transferred to generations two or more below the deceased person are subject to additional taxes if the amount exceeds the allowable exemption.  For ...
• What is a Dynasty Trust? Question: What is a Dynasty Trust? Answer: A large responsibility of a family office is to ensure a financially and tax-pain free transfer of wealth between generations and one way in which family offices might prepare ...
• Dynasty Trust Family Office Definition: Dynasty Trust Dynasty Trust definition:  A dynasty trust is created to pass wealth to multiple generations and avoid paying the generation-skipping transfer taxes and estate taxes at every transfer of assets ...
• Estate Transfer Family Office Definition: Estate Transfer Estate Transfer definition:  Estate transfer is the legal process by which an individual transfers property to heirs (either while living as a gift or sale or once deceased through ...
• Generation-Skipping Trust Family Office Definition: Generation-Skipping Trust Generation-Skipping Trust definition:  A trust established to provide income for the next generation (children), while the skip generation (grandchildren) are beneficiaries of the trust principal.  The trust is set ...
• What are Estate Taxes? Question: What are Estate Taxes? Answer: Taxes, especially those taxes that can be a burden on other generations are an issue that family offices will often take care of for their family clients and try to ...