Today, there are about 100 single family offices in Russia and as many as 20 multi-family offices. Such firms typically tend to investments, taxes, estate planning and even personal needs such as travel and education.
Among the wealthy tri-state area set, there’s more buzz than ever about fleeing south to Florida, land of mild winters and, more importantly after last year’s federal tax overhaul, zero state personal income tax.
An obscure tax provision from the 1960s that was left untouched by President Donald Trump’s overhaul could let wealthy individual investors seize for themselves the largest corporate tax cut in U.S. history.
Jonathan Blattmachr, an estate planning lawyer, is such a fan of the strategy he’s created to help some of his wealthy clients get around the new property tax deduction cap that he’s using it himself.
