FAMILY OFFICE SERVICES
Wealth &
Tax Planning
Planning for thoughtful financial decisions with the broader picture in mind.
OVERVIEW
Wellspring's Wealth & Tax Planning Services
As your family’s financial life grows more complex, so do the decisions that shape your future. Wellspring’s Wealth & Tax Planning services bring together the people, strategies, and expertise that help protect what you’ve built while supporting the life and legacy you want to create.
Wealth Management
We develop financial strategies around your family’s goals, resources, responsibilities, and changing priorities.
Multigenerational Estate Planning
We work with your legal team to help put estate plans into action and carry your family’s intentions forward across generations.
Asset Management & Protection
We identify areas of financial vulnerability and help evaluate strategies designed to protect your family’s assets.
Income Tax Planning & Preparation
We provide year-round tax planning and preparation so tax considerations can be addressed before important decisions are made.
Philanthropy Planning
We help define your charitable goals and structure your giving around what matters most to your family.
Owner Advisory
We help business owners consider how decisions about the company may affect their personal wealth, family priorities, and eventual transition from the business.
A Coordinated Approach to Financial Decision-Making
Thoughtful Planning for Complex Financial Lives
Significant wealth can make seemingly separate financial decisions increasingly connected. A change involving a business, an estate plan, a charitable gift, or a concentrated asset may affect taxes, liquidity, or choices elsewhere.
Wellspring helps you consider those connections before decisions are made by bringing the right considerations together from the start.
- Building a financial plan around your family’s goals and responsibilities
- Considering tax implications before a significant transaction
- Putting estate plans into action as circumstances change
- Preparing for changes in business ownership or succession
- Identifying potential vulnerabilities in how assets are held or protected
- Structuring charitable giving around your philanthropic goals
- Working with your attorneys, accountants, trustees, and other trusted advisors
The purpose is practical: important decisions should be considered in the context of the rest of your financial life. Wellspring helps provide that broader view while keeping your family’s priorities at the center of the work.
How These Planning Decisions Work Together
One financial decision often creates opportunities and new considerations in another area of your family’s financial life.
Helping families understand those relationships is one of the most valuable aspects of coordinated Wealth & Tax Planning.
Planning in Action
The circumstances differ, but the principle is consistent: a decision in one area can change the options available in another. Wellspring helps families understand those connections and bring the appropriate expertise into the conversation.
Preparing the Next Generation
As children or grandchildren assume greater responsibility, preparing them involves more than transferring assets. Financial education, communication, philanthropy, and governance can help them understand the responsibilities that accompany family wealth.
Selling a Business
Preparing to sell a business raises decisions beyond the transaction itself. The timing and structure of a sale can affect taxes, liquidity, charitable giving, and how the proceeds support your family’s next chapter.
Managing Concentrated Wealth
A large position in a business or single investment can create both opportunity and financial exposure. Deciding whether, when, and how to reduce that concentration can affect taxes, liquidity, and other family priorities.
Making a Significant Charitable Gift
A significant charitable gift begins with what your family wants its giving to accomplish. How and when you give can also affect taxes, available funds, and your estate strategy.
Planning for Life's Next Chapter
Leaving a business, changing the pace of work, or entering a new stage of life can affect how your family earns and uses its wealth. Understanding future income, liquidity needs, taxes, and existing estate plans can help clarify the choices ahead.
See how these connect for your family.
When Families Benefit from Wealth & Tax Planning
Wealth & Tax Planning can become particularly valuable when an important decision affects more than one part of your financial life or requires input from several professional advisors. Families may benefit when they are:
- Planning for the sale or succession of a privately held business
- Managing trusts, family partnerships, or multiple legal entities
- Developing charitable giving or philanthropic strategies
- Revisiting estate plans as family or financial circumstances change
- Managing concentrated investment positions
- Working with multiple professional advisors
- Looking for greater clarity around a significant financial decision
- Weighing how a major transaction may affect their overall tax position
Frequently Asked Questions
What is Wealth & Tax Planning?
Wealth & Tax Planning helps families make significant financial decisions with an understanding of how those may affect other parts of their financial lives. Wellspring helps identify those connections and brings the appropriate professionals into the conversation when their expertise is needed.
How is Wealth & Tax Planning different from investment management?
Investment management focuses on how assets are invested and managed. Wealth & Tax Planning addresses decisions surrounding those assets, such as how a transaction may affect taxes, liquidity, an estate plan, or other family priorities.
The two often intersect, but they serve different purposes within a family’s broader financial picture.
How is Wealth & Tax Planning different from traditional wealth management?
“Wealth management” can describe many different combinations of financial services. Wellspring’s Wealth & Tax Planning work focuses on helping families understand the implications of significant financial decisions and how those decisions connect.
When a question crosses professional disciplines, we also work with the family’s other trusted advisors so the relevant considerations can be addressed together.
Why should tax planning and estate planning work together?
Tax and estate decisions can directly affect one another. How assets are owned or transferred may create tax consequences, while a tax strategy may affect what is ultimately available for heirs, charitable giving, or other purposes.
Considering both before an important decision can reveal tradeoffs or opportunities that might otherwise be missed.
When should tax planning begin?
Tax planning is most useful before a significant financial decision is finalized. Once a transaction has occurred, some choices may no longer be available.
Wellspring provides year-round tax planning and preparation so tax implications can be considered as decisions arise, not only when returns are due.
Do I need to replace my CPA or estate planning attorney?
No. Wellspring frequently works alongside a family’s existing attorneys, accountants, trustees, and other trusted professionals.
When an issue crosses disciplines, we help connect the work while each advisor contributes the expertise appropriate to their role.
How often should a wealth plan be reviewed?
A wealth plan should be revisited when the circumstances behind it change. A business transaction, significant change in assets, new estate documents, changes in family circumstances, or new tax rules may all warrant another look.
Regular reviews can also help confirm that earlier decisions still reflect your current priorities.
Explore Wellspring's Integrated Multi-Family Office
Wealth & Tax Planning works in concert with the other areas of Wellspring’s integrated multi-family office. Together, these services allow financial decisions, family responsibilities, and the priorities that shape family life to remain connected within one coordinated relationship.