Tax Issues for Family Offices: Structuring Options, Income Tax Planning, Allocations, Investments

This CLE/CPE course will provide tax attorneys and professionals an in-depth analysis of key tax considerations for family offices under current tax law. The panel will discuss cases and legislation impacting the family office industry, challenges and opportunities stemming from the One Big Beautiful Bill Act (OBBBA), considerations for structuring a family office, selected tax matters, and best practices and developments in the family office industry.

With the creation of significant wealth, families may consider establishing a family office—or modernizing an existing one—to oversee the family's financial affairs rather than solely relying on institutions to provide those services. The tax framework for family offices is complicated, requiring the involvement of competent advisers. With appropriate facts and proper planning, tax professionals and advisers can assist the family in establishing a family office to meet their goals and objectives and further their overall tax efficiency.

Recent tax reform under OBBBA eliminates the sunset provisions established under the Tax Cuts and Jobs Act, and adds a permanent $15 million federal estate, gift, and generation-skipping transfer tax exemption. However, other provisions of OBBBA can present challenges for taxpayers and must be carefully considered when implementing tax and estate planning strategies.

Listen as our experienced panel discusses tax provisions impacting family offices, structuring considerations, income tax issues, and other planning considerations.