Family Wealth Services

Building a business and acquiring wealth took ambition, skill, and determination. Maintaining your wealth requires that same level of skill and attention to accomplish lifetime objectives, reach your philanthropic goals, and preserve your legacy.

Proficient tax and accounting professionals relieve the stress points in your daily routine.

Managing wealth, complying with tax regulations and requirements, bill paying and handling impromptu financial matters is tedious. Marcum’s Family Wealth Services Group is comprised of accomplished tax and accounting professionals whose expertise allows you the freedom to focus on the principal areas of your life.

In addition to handling a myriad of tax filings and returns, Marcum tax professionals provide personal income, trust and estate, and charitable tax planning services. They are available to serve as your Family Office, overseeing your financial affairs.

You customize the level of service best tailored to your needs.

Personal Income

Prepare quarterly estimates, extensions, and tax returns.
Recommend structures for business liability and tax planning purposes (i.e., limited partnerships, limited liability companies, and S and C corporations).
File federal, state, and local income tax returns for individuals and entities.
Prepare required U.S. reporting information for foreign transactions.
Federal and state tax audit representation.

Trust & Estate

Estate and lifetime gift plans for high net worth individuals, including resident aliens.
Liquidity analysis for estates with illiquid assets.
Valuation of family partnerships and other entities for transfer tax purposes.
Prepare estate and gift, and fiduciary income tax returns.
Prepare trust and estate judicial and non-judicial accountings.
Assist executors in navigating the estate administration process.
Mediate family disputes over inherited or inheritable assets.
Ensure third-party trust and estate administration and legal services are high-quality and cost-effective.
Advise trustees of U.S. and foreign trusts regarding tax compliance issues for U.S. and foreign beneficiaries.

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Charitable Planning Services

Charitable strategies using private foundations, donor advised funds, charitable remainder and charitable lead trusts.
Sophisticated gifting and estate planning strategies.
Structured gifts such as university chairs, fellowships, trusts, and annuities.
Engaging heirs in philanthropic endeavors.
Prepare and file application for recognition of exemption.
Prepare foundation tax returns, including unrelated business income tax returns, if applicable.
Prepare and file quarterly excise taxes.
Perform full charge bookkeeping, financial statement preparation and accounting services.
Manage charitable activities including grant making, compliance of 5% distribution requirement, and expenditure responsibility.
Oversee public disclosure compliance and governance.
Oversee compliance regarding prohibited transactions—self dealing, jeopardizing transactions or excess business holdings.

Family Office

Prepare customized financial statements including cash flow analysis, income statements, balance sheets, and budgets.
Bill paying.
Specializing in the management of multiple personal properties.
Facilitate luxury lifestyle financing.
Household payroll services, including benefit administration.
Assist with related entity administration: partnerships, trusts, corporations, and charitable foundations.
Reconcile investment portfolios.
Assist with bank, brokerage and third-party cash and securities transfers.
Insurance reviews.
Prepare a customized “Life Book” cataloging advisors, bank accounts, investments, current balance sheet and income statements, insurance and benefits, analysis of charitable donations, and personal legal documents.