More about Additional Services:
ILIT (Irrevocable Life Insurance Trust) Administration: (also offered as a stand alone service)
Our service ensures that you remain compliant with the Irrevocable Life Insurance Trust (ILIT) regulations, protecting you from potentially costly oversights. These include the establishment of a bank account for the trust, overseeing the funding of the account, sending the Crummey notices, paying the premiums, and recording all trust activity.
Domestic Payroll Assistance: (with Bookkeeping or Entity Accounting services)
Working with any one of three longtime associated firms, we offer a solution to make sure your household staff is paid on time via direct deposit, and that tax withholdings are properly made and documented. Coordinating efforts with your CPA, we ensure that W-2s are handled, quarterly taxes filed, and year-end tax reports generated.
Customized Reporting: (with any core service)
We can provide highly customized reports to address any number of special needs. For example, we can prepare multi-year spending summaries to be used to calculate budgets; or generate “basis reports” detailing the money you have spent on home improvements, investment in an art collection, how much the aircraft costs increased year over year, etc. Just ask! If the data is in our system, we can run you a report.
Medical Claims Processing: (with Bookkeeping Service only)
Working with our longtime associate, Medical Bill Advocate, LLC, we can make sure that your health insurance claims are properly reviewed and paid in a timely manner. Typically, your medical bills are sent directly to us or Medical Bill Advocate for initial processing and, if needed, any payments that are due.
Statement of Assets: (with any core service)
When a life changing event, such as death or divorce, takes place, it’s very important to know where all the financial assets are located. We can help provide the answer through a service which records balances in all of your investment and bank accounts from copies of printed statements or online access.
Document Storage: (with any core service)
Working with our longtime associate, Medical Bill Advocate, LLC, we can make sure that your health insurance claims are properly reviewed and paid in a timely manner. Typically, your medical bills are sent directly to us or Medical Bill Advocate for initial processing and, if needed, any payments that are due.
Property and Casualty Insurance Review: (with any core service)
The private client insurance market has changed significantly over the past decade, but the need for risk management hasn’t. Our professionals can review your coverage against your family’s activities, assets, and entities. We frequently find uninsured assets, assets that should be separately scheduled that are not (and are thereby underinsured), holes in liability protection, and potential risks that are not covered. We then work with partners who specialize in the high net worth market to conduct a comprehensive review and take the enhanced findings to market.