Private Wealth Services

The growth, preservation, and transfer of wealth is the focus of Friday, Eldredge & Clark’s private wealth services for high-net-worth individuals and family-owned businesses. We have developed a multidisciplinary array of estate planning, tax planning, and business planning capabilities that help our clients manage and protect accumulated wealth through effective tax, business, and personal planning strategies. Business owners, professional service providers, investors, executives, and their families all trust our firm to help them achieve their goals.

Client Focus

  • Individuals and Families
  • Family Businesses
  • Trusts and Estates
  • Personal Foundations

Services to Individuals and Families

Estate Planning

Maximizing financial benefits to clients while fulfilling all fiduciary responsibilities and minimizing taxes and developing personalized estate planning solutions in the way each client intends are our most important goals. Although our plans will fully provide for the distribution of assets upon death, we can create a variety of trusts and lifetime gifts to shelter family assets and minimize tax impact, and establish long-term asset management arrangements.

Tax Planning

Our sophisticated, multi-generational planning focuses on reducing tax liabilities as much as the tax law allows, consistent with the client’s objectives. Our lawyers are skilled at creating a variety of trust, business, and investment structures all designed to achieve maximum tax advantage.

Trust and Foundation Planning

Our lawyers create specialized trusts and private foundations that address wealth management needs. In addition to family trusts, these include charitable lead trusts and charitable remainder trusts that provide both family benefits and tax-deductible gifts to charitable organizations. We work with clients to resolve all tax issues involving trusts and foundations that combine effective family legacy, charitable giving, and tax management strategies.

Services to Family Businesses

Succession Planning

Our lawyers advise on all aspects of business succession planning, helping clients achieve personal and business objectives through effective management and tax strategies. We offer guidance on how to maintain or transfer control of a company within a family, as personal needs and requirements dictate. That often includes creating buy-sell agreements that enable owners to meet their tax, business succession, and estate planning goals. And if the eventual disposition of the business is the most practical choice, we develop the most tax-efficient strategies for a sale, merger, or liquidation.

Compensation Planning

Executive compensation arrangements are an important part of our private wealth services, and we advise on all aspects of equity and deferred compensation planning for executives. Especially for family-owned businesses, we develop compensation and benefit structures that give executives and their families added financial and tax benefits while providing the incentives for business growth. That includes structuring tools like incentive and deferred compensation, cash bonus plans, profit-sharing programs, and supplemental savings plans. Because we work with so many family businesses of all sizes, we can structure the best approach for each individual and family.

Operational Planning

Our lawyers build the organizational structure that is best suited for each family company’s operations, finances, and potential transactions. We work effectively with accountants and tax advisers to structure maximum tax efficiency and wealth preservation. Our counsel also includes developing the right compensation and benefit plans for business owners, and helping clients address their financing needs.