Wealth Management Services

Family Office Services

The more wealth you amass, it is likely the more complex your financial situation becomes. When you reach the point of setting up a family office to keep your affairs running smoothly, trust the experts at Wilmington Trust.

We can collaborate with your attorneys and other trusted consultants to help manage the complexities of significant wealth. As a family office team, we can bring structure to financial decision-making, develop processes that oversee cash flow, and help enhance investment decisions. On your behalf we can work to address:

Personal Financial Management:

Analyze investment solutions; develop and maintain cash flow, income, and expense projections to best meet liquidity needs
Prepare balance sheets, income statements, tax returns, and budgets
Process and pay bills; draft and execute wire transfers for cash disbursements

Entity Management:

Establish disciplined procedures and appropriate controls to provide for decision-making authority and strong governance
Foster communication among family leaders, key stakeholders, and other professional advisors to promote engagement
Coordinate meetings; take and retain minutes, governing documents, accounting records, and agreements
Provide tax, accounting, cash management, planning, budgets, and day-to-day operations for family entities

Advisory and Consulting:

Scrutinize financial data and portfolio holdings for opportunities to reduce taxes and optimize the use of liquidity
Monitor evolving tax law to help ensure compliance and minimize risk
Assess need for limited liability company structures and guide their implementation and management
Evaluate processes and operations for the potential to streamline and reduce costs

Legacy Planning and Family Education

Refine your family legacy plan by identifying gaps and presenting opportunities for improvement
Facilitate multigenerational educational workshops that create family learning opportunities to promote the responsibilities of managing and stewarding wealth
Formalize your family governance structure (the business of the family)
Help prepare your family both emotionally and professionally for a smooth and successful business transition
Use family philanthropy as a transition readiness tool to create a lasting legacy and family cohesiveness