Services & Industries
Family Office Practice
Family offices are privately owned entities established by affluent families to manage their wealth, plan for their families' financial future, engage in investment opportunities and provide other services to family members. Family offices can be formally structured or operated informally. In recent years, families of wealth have come to realize the many benefits to establishing a structured family office, including enhanced control, privacy and customization of their asset allocation, wealth and risk management, and an overall legacy plan.
Day Pitney routinely represents family offices, with a focus on single family offices (SFO), and their executives and family principals in a wide variety of complex matters. Our family office clients, which are U.S. and international, have significant investable assets spread globally across numerous asset classes.
Our Family Office team includes experienced attorneys from multidisciplinary practices who serve the many needs of family offices. We are well versed in handling issues such as formation and structuring of SFOs (and their subsidiaries and affiliates), sophisticated tax planning, wealth transfer strategies, liability mitigation, risk management and highly customized structuring of investments throughout the capital structure and across the alternative asset landscape.
RECOGNITION*
Named "Law Firm of the Year" by Family Wealth Report, 2017
Finalist in "Accounting, CPA or Law Firms Serving Family Offices" category for Family Wealth Alliance Best in the Industry Awards, 2018
Shortlisted in two categories, "Best Private Client Law Firm" and "Best Trusts and Estates Division," by Private Asset Management (PAM), 2018
Shortlisted in two categories, "Legal Team of the Year" and "Family Wealth Counseling," by Family Wealth Report, 2018
Named a Family Office "Industry Awards" Finalist by Wealth Management
Ranked as "Highly Commended" in "Best Law Firm—Client Service" category and shortlisted in the "Best Trusts and Estates Division" category by Private Asset Management (PAM), 2017
Shortlisted for "Law Firm of the Year" by Family Wealth Report, 2016
Ranked Nationwide, and Band 1 in Private Wealth Law, CT and MA, by Chambers HNW (Chambers & Partners), 2016-2018
Ranked Band 1 in Wealth Management, Nationwide, by Chambers USA (Chambers & Partners), 2010-2016
*No aspect of these advertisements have been approved by the Supreme Court of New Jersey. See Awards Methodology.
AFFILIATIONS
Family Office Association, Resource Council Member
We bring to our family office clients the same skills and marketplace intelligence used to negotiate and structure our institutional investor clients' allocations to hedge funds, private equity funds and real estate funds. We also have significant experience in aircraft financing and private air charter fractional ownership programs, fine art financing and wine investing.
Our services to family offices span a variety of areas, including:
Our attorneys have extensive experience advising art collectors and investors, artists and charitable organizations on issues arising from the ownership of art, collectibles, jewelry and other tangible personal property. We counsel both affluent American and international families, as well as single- and multi-family offices, on all aspects of art law.
We assist clients with the formation of trusts funded with art, the use of Section 1031 like-kind exchanges for artwork, sales and use tax issues including voluntary disclosures, as well as transactional issues that arise when clients purchase, lend, pledge or sell works of art. We routinely coordinate with auction houses and dealers on behalf of families of wealth looking to add to or diversify their art portfolios. We coordinate the appraisal and valuation of artwork in order to optimize the tax and investment issues pertaining to sales proceeds. We also work closely with insurance professionals to advise our clients on their most effective risk management options.
There is no substitute for access to hands-on, practical legal advice when you need it, especially coming from a lawyer who knows your business and your industry. Day Pitney General Counsel Services (DPGC Services) adds to your management team an experienced legal counselor who has been in the business trenches, often in your industry. We have assembled a diverse team of Day Pitney General Counsel (your DPGC) who have served in general counsel and senior legal positions and as owners and executives of private and public companies, funds, and investment banking firms. Armed with this real-world industry experience, your DPGC will devote the time to learn your business and will be backed by the broad legal capabilities of Day Pitney.
Day Pitney's Compliance Risk Services group assists investment advisers and other organizations in designing and implementing comprehensive compliance programs. Our compliance group provides essential compliance services, including compliance risk assessments and audits, investigations, and compliance control improvements to mitigate compliance risks.
Day Pitney is a proud resource council member of the Family Office Association, a global membership community dedicated to providing UHNW families the resources to solve their most difficult challenges and achieve their respective and collective goals.
