Simply Tax® Episode 127: The Family Office: Why Have One?
Join host Damien Martin in his ongoing quest for insights and best practices for affluent families and their advisors as he sits down with guest Jeff Davidson to unpack the often mystifying and sometimes daunting world of the family office. Here’s what’s covered:
- Who is Jeff Davidson? @ 02:35
- Developing a national family business succession planning practice @ 07:11
- The definition of a family office @ 11:25
- Running a family office @ 13:41
- Common challenges for families @ 16:59
- Cost considerations for family offices @ 18:40
- Figuring out the focus of the family office @ 20:46
- Family meetings and addressing the gorilla in the corner @ 21:09
- Leading effective family meetings and learning more about succession planning @ 25:18
- Trends in philanthropy and family offices @ 28:38
- Best practices for creating a lasting family legacy @ 30:30
- What’s surprised Jeff most in his work with families and family offices @ 31:28
- Why family offices are important for preserving wealth @ 32:32
- How to decide between a single-family and multifamily office @ 33:05
BIO FOR GUEST
Jeffrey M. Davidson is a senior advisor at Taubman Capital Management. Jeff joined Taubman Ventures Management as president in November 2003. He recently retired on March 31, 2021, and is now consulting with the Taubman family, as well as other affluent families, particularly as it relates to creating or improving the family office.
Prior to serving the Taubman family, Jeff was with Deloitte for 33 years. Jeff began his career in 1970, rising to tax partner in 1981. He was appointed managing partner of the Tampa office in 1985. In 1995, Jeff moved to Cincinnati to help create Deloitte’s national private client practice. In this role, he became the national leader for family business succession planning. Jeff moved to Detroit in 1999 to assume leadership of the private client practice for the Great Lakes region.
Jeff received his BSBA from the University of Florida.
- Family office resources
- Succession planning resources
- BKDnext® Business Succession & Continuity Planning services
- Archived Webinar: Building a Confident Future with a Holistic Approach presented by Amy Frizzell, Chris Schumann, David Rodarte, and Damien Martin (April 28, 2021)
- Archived Webinar: Building a Legacy – What Families Need to Know About Succession Planning presented by Alan Taylor (July 13, 2017)
- Simply Tax Episode 6: The Intentional Family Business with guest Courtney Pullen (December 6, 2017)
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