Affluent Families

Serving the unique needs of affluent families is another key practice area for our team at Rhame & Gorrell Wealth Management.

There are significant opportunities and difficulties associated with serving families, including:

• Estate planning (Wills, trusts, ancillary planning documents)
  • These documents are the easiest and best way to control the disposition of assets after the passing of a loved one)
• Intergenerational wealth transfer
  • Minimizing estate taxes is easier with the new tax law, but the estate tax exemption limit will expire in 2025 unless congress elects to extend. Generation skipping issues must be considered as well.
• Asset protection
  • Safeguarding family assets from liability and marital events can be critical for affluent families. Inheritances can be eroded or lost due to a lack of planning in this area
• Idiosyncratic Risk Hedging
  • Often, family wealth is concentrated in a single stock received through inheritance or a successful business career. We have strategies designed to hedge, monetize, diversify or transfer assets while mitigating tax implications.

Is to serve as your family’s advisors for life, handling all matters related to managing and preserving your wealth, and building your legacy – so you are free to focus on enjoying your life and the people important to it.