WEALTH PROTECTION



Wealth Protection

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1. Multigenerational Wealth Transfer 
Many families face multigenerational wealth transfer issues. Every situation is unique to that family and requires a customized approach that generally incorporates the use of multiple trusts and entities. The complexities created by implementing wealth transfer strategies can be cumbersome to effectively administer. Blossom Family Office is experienced in administering complex wealth transfer plans and coordinating the collective expertise of many different professionals. Our approach is to integrate the work of attorneys, accountants and other professionals to create and implement wealth transfer strategies and to work with potential heirs to make sure they are ready to inherit the family wealth.

Special areas of focus include:

a. Preparation of Next Generation

b. Business succession planning

c. Philanthropic endeavors/charitable giving

d. On-going estate plan and beneficiary review

e. Tax reduction strategies

f. Family Limited Partnership / Family Limited Liability Company Administration

g. Gifting & Charitable Contributions

h. Current & Successor Trusteeship

2. Tax Advisory 

Blossom Family Office coordinates with a team of tax accountants dedicated to serving the unique needs of each family office. Our network of advisers have extensive experience resolving the complex tax issues faced by families of significant net worth and the businesses that they own.

We currently coordinate the following tax services:

a. Comprehensive tax planning

b. Succession and estate tax planning

c. Risk management

d. Tax compliance

e. Tax controversy resolution

f. Choice of legal entity for tax efficient business operations

g. Business acquisition and sale planning and due diligence

h. Real estate structuring and ownership planning

i. Executive compensation and fringe benefit planning

3. Insure Your Family’s Legacy 

Blossom Family Office offers comprehensive insurance brokerage services, and a team of specialists in analyzing risks, developing risk management strategies and providing for future contingencies. Our consultants can advise you on:

a. Medical coverage for working and non-working family members as part of a family office or large family unit

b. Estate tax transfer solutions and funding alternatives

c. Personal property and liability risk policies for luxury markets, including personal real estate, yachts, planes, cars, jewelry and fine art

d. Kidnap and ransom coverage

In developing your solutions, we utilize proprietary insurance products that address exposures arising from estate taxes and business succession. We work with family businesses to provide access to the best and most cost-efficient carriers for the coverages required.

4. Lifestyle Hedging/Budgeting 

We will work with you side-by-side in determining various income/expense categories and facilitating the forecasting of such. These various reports (budget vs. Actual) can be created to meet your specific goals. On an annual basis – or more frequent, if needed – we will complete a comprehensive review of the current budget.

5. Compliance & Regulatory Assistance

Our network of consultants help you effectively identify risks, conflicts & gaps within your internal controls and offer practical solutions to mitigate such risks. Our team will help you implement strategic custom regulatory compliance plans to help protect your family office.