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\u2019ll 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\u2019t 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.\xa0 Consider these points to see if you need to set up a family office. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .