In the past, wealthy families have relied on brick and mortar Single-Family Offices to manage their investments, trusts and assets. These private wealth management systems serviced only ultra-high net worth individuals.
Yet, with the development of Asset Protected Virtual Family Offices (APVFOs), we have eliminated the need for a physical office, lowered the amount of high-cost staff and decreased the cost of a family office. Now, families at all income levels can benefit from private wealth management.
With advances in digital communication, APVFOs use a trade secret configuration to allow someone with as little as $300,000 to protect their assets with the same benefits those with $500 million or more.
An APVFO manages a family’s investments and financial and business operations. Since the family office is virtual, your family benefits from hand-selected, top-tier professionals from around the globe who provide their services at pre-negotiated, affordable rates.
Our integrated teams are made up of expert financial planners, investment advisors, tax advisors, accountants, attorneys and business or other consultants. Their services include (but are not limited to):
- Legal
- Budgeting
- Insurance
- Estate
- Charitable
- Family-Owned Businesses
- Executive Administration Services
- Wealth Transfer
- Accounting Services
By working with a team of professional advisors across multiple firms, you can be sure that your APVFO is optimized for your family’s needs.
What are the benefits of a APVFO?
Coordinating your wealth and assets inside an APVFO enables you to integrate your family office services in a single location. This synergistic approach builds trust between your family and the professional service providers. Together you’re able to develop coordinated, high-impact solutions for your family’s wealth management.
Additionally, the APVFO places you in direct control over the service providers. You can reshape your team and portfolio at your discretion, and you retain all operational authority, unless you stipulate otherwise in the agreement. In that case, if you would rather take a less hands-on approach, your Executive Administrator would manage the financial accounts associated with the APVFO on the owner’s behalf, while always preserving the business owner’s privacy. This allows you to limit and better control who has access to your private, personal information.
APVFOs also safeguard your family’s wealth for future generations. Not only do family office services provide the most efficient intergenerational wealth transfer, but they also teach the entire family wealth education and financial responsibility. Most importantly, with an APVFO, your wealth is asset protected to keep it secure in the case of a financial crisis, such as a lawsuit.
Why should your family office be Asset Protected?
Whether you have already accumulated significant wealth or you are working toward long-term financial goals, creating an asset protected formation is the best way to offset third-party intrusions, such as improper litigation or misapplied regulation.
The Internet has made it easy for any interested parties to research information about you, your profession, and the assets you own. In today’s litigious society, people with assets are a target for lawsuits, which are both expensive and time-consuming to defend.
Through the use of asset protection structuring, you can retain full control of your assets without publicly revealing yourself as the owner. Separating and protecting your assets enables you to add an additional level of security to those assets, as well as reduce your risk of being targeted for a lawsuit.
You are probably familiar with the concept of creating an offshore entity to protect assets, but what you may not know is that the same benefits can be achieved here within the United States.
Newer state laws that govern trusts and trust assets limit the availability to creditors. Nevada is one of the best states for asset protection laws in all of the United States, and Wealth Support Services can help you establish Nevada-based trusts through your APVFO.
Financial decisions and critical investment opportunities can be worrisome and difficult to understand. Our experts can walk you through the formation of an APVFO to provide you with the necessary insights to make an informed decision and create a lasting financial infrastructure.
