Startup Funding Espresso – Do You Need a Family Office

Do You Need a Family Office

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

Before setting up a family office, first consider if you need one.

Here are some key considerations to review:

Do you have the income to support a family office?

Aside from a high net worth on paper you’ll also need to fund the operations which require cash flow.

Consider the ongoing cash flow required to support a team.

There are virtual family offices which can provide the accounting and finance support without the cost of hiring full-time salaried professionals.

Avoid setting up a family office that requires outsized returns to succeed as this won’t be sustainable.

Do you have a complex set of assets and investments?

If so, you may need a family office structure to manage it.

If not, you can find a lower-cost solution through a financial advisor.

Do you have successors who can carry on the family office?

Without successors it can be difficult to maintain a family business over the long haul.

Is your estate in a high tax bracket?

A family office can reduce taxes through active management. 

Consider these points to see if you need to set up a family office.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
For eGuides check out: https://tencapital.group/education/ 
For upcoming Events, check out https://tencapital.group/events/  

For Feedback please contact [e-mail]   

Please follow, share, and leave a review.

Music courtesy of Bensound.