Episode Details

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:   Check out our other podcasts here:   For Investors check out:   For Startups check out:   For eGuides check out:   For upcoming Events, check out    For Feedback please contact info@tencapital.group    Please , share, and leave a review. Music courtesy of .