Lifestyle household management

 

FOMS provides extraordinary attention to all of your family's administrative needs. By acting as the common contact between each family's suite of service providers, FOMS works with the families' existing partnerships to simplify and streamline their day-to-day lives.

 Available services include, but are not limited to, the following:

 

Personal bookkeeping

  • Bill paying, including direct bill-management from the FOMS office
  • Cash management for family bank accounts
  • Mail management
  • Maintenance of family records, including off-site storage: investments, insurance, real estate, philanthropy, motor vehicles, etc.
  • Management of a program to “automate” annual giving to a large number of charitable organizations
  • Payroll for household staff
  • Evaluation of service providers and vendors

Family Entities Administration

  • Administration of family trusts, partnerships, and LLCs
  • Responsible for annual filings of family entities (e.g., corporations, LLCs) 
  • Accounting for family entities, including trusts, partnerships, and LLCs

Tax Coordination

  • Coordination with tax accountants or family tax managers
  • Preparation of various schedules
  • Close collaboration with family tax accountants on estimated tax projections and general tax planning

INVESTMENTS

  • Day-to-day coordination of third party investment manager activities such as trades, changes in asset allocation, and account administration
  • Cash Management for family bank accounts
  • Administration and monitoring of alternate investments, including capital calls, distributions, capital commitments and cost basis.
  • Maintenance and updating of basis data for family investments.

Note:  FOMS is not a money management office or investment advisor. As a result, FOMS has no conflicts of interest when it provides performance analysis and other investment coordination to client families.


INSURANCE

  • Analysis of existing life, property, and liability insurance policies
  • Arrangement of special insurance coverage for art, antiques, other valuable possessions, and events
  • Management and negotiation of new insurance policies in consultation with the family’s insurance broker