Family Office Services

FGMK’s team of experienced professionals assist high-net-worth families and individuals with a broad spectrum of services, including: organization, operation and internal control design and set-up; accounting, including bill pay; tax planning and compliance; consulting; and treasury management. When you engage FGMK, you gain access to a highly skilled team that has extensive direct experience in serving high-net-worth families and their Family Offices. FGMK provides support to Family Offices and individuals with day-to-day back-office requirements that often are overlooked due to more pressing demands

FGMK’s services are designed to give you confidence that your Family Office is operating at its fullest potential. Hard work, attention to detail, client service commitment, and confidentiality are the hallmarks of our service. Our expertise encompasses the sophisticated processes and procedures that a Family Office requires to function smoothly.

OUR SERVICES

FGMK provides a wide variety of services to assist you in growing, preserving, and protecting your family’s wealth. We help you implement a comprehensive structure that is designed to control, manage and track your family’s assets and income. Whether you are new to a Family Office, have been part of a multigenerational Family Office, or are a high-net-worth individual without a formal family office structure, we can tailor our offerings to provide you with the expertise and knowledge that best suits your needs.

IMPLEMENTING INTERNAL CONTROLS

FGMK can help your Family Office identify risks related to the safeguarding and security of your assets. We understand the importance of control efficiency and continuously look for opportunities in which your Family Office’s internal control system can be further improved. Our experienced professionals can assist your Family Office with conducting an assessment of the adequacy of your internal control procedures, allowing you to evaluate whether these procedures have been appropriately implemented, and address your specific risks and objectives. Upon completion of these assessments we will develop documentation that clearly describes the processes, risks and controls identified, and any recommendations for internal control improvements based upon leading practice.

TAX REFORM

The passage and enactment of the Tax Cuts and Jobs Act (the “Act”) in December 2017 provided sweeping changes in virtually all areas of the federal tax code. FGMK provides proactive planning and compliance services in accordance with the provisions of the Act.

Robert H. Minshall

312.818.4302

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Our expertise encompasses the sophisticated processes and procedures that a Family Office requires to function smoothly.

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Background

OPERATIONS AND ORGANIZATION

  • Comprehensive organization of legal, tax and permanent files
  • Develop a Family Office design and structure
  • Implement processes, procedures and internal controls

TAX PLANNING, COMPLIANCE AND CONSULTING

  • Estate and wealth transfer planning
  • Federal and state income tax compliance
  • Federal and state examination representation before the IRS
  • International tax compliance and planning
  • Year-round integrated personal income tax planning and consulting

LIFESTYLE MANAGEMENT

  • Develop and implement a system to track private collections, assist in obtaining appraisals
  • Develop and implement policies and procedures to assist in property management of homes and real estate, aircraft ownership, and domestic employee payroll
  • Organization and maintenance of lifestyle needs

TREASURY MANAGEMENT

  • Bill pay
  • Cash management
  • Design and implement cash and banking structures

ACCOUNTING

  • Audit/review of financial statement
  • Develop and prepare financial reports and packages
  • Establish and maintain accounting records

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