Grandmother and grandchild in the garden

Family Office Services

Charter Trust Company offers Family Office services to select high net-worth clients. Our Family Office service allows clients to live the life of their dreams and not be burdened with the increasing complexity of managing great wealth.

Dedicated family office managers work with each family and are advocates for all of the client’s wealth matters. Acting as the families chief financial officer and serving as trusted advisor, facilitator, and investment manager to multi-generational families.

Many of our Family Office clients are comfortable having their dedicated manager relieve them of time consuming tasks such as bill paying, payroll services, record keeping, and a wide variety of other daily household business matters.

There’s no cookie cutter approach to managing your family’s wealth. Your Wealth Advisor and Investment Manager will work closely with you to develop investment objectives that reflect your current financial position, risk preferences, tax obligations, and spending requirements. Your investment manager acts on your behalf as a true fiduciary. We manage your wealth like it was our own and will provide unbiased investment advice grounded in-house research and analysis.

Listed below are some of the services we offer:

  • Investment management of portfolio
  • Tax consulting and preparation
  • Collection and disbursement of income
  • Bill payment
  • Payroll services
  • All bookkeeping and record maintenance
  • Retirement planning
  • Insurance administration
  • Estate planning
  • Estate settlement
  • Sale of real estate coordination
  • Custody of and safekeeping of account assets
  • Handling of all trades, maturities, exchanges, and other principal changes
  • Private foundation services
  • Financial planning
  • Credit and deposit services coordination
  • Coordination of family meetings
  • Annual tax information letter and tax preparation of fiduciary returns
  • Periodic meetings with clients and/or advisor
  • Monthly statements of activity

Charter Trust offers payroll services for family office clients. We can prepare your W-2s, as well as deposit your payroll taxes in a timely fashion. We will file your Federal/State Quarterly and Annual reports. Your new hire reporting requirements will be up-to-date and your employees can receive direct deposit into their personal bank accounts. Our payroll team strives to give you precise, timely, and convenient services.

Here’s a partial list of the services we offer:

  • Direct deposit available to employees’ bank accounts
  • Prepare and file quarterly and annual Federal forms
  • Prepare and file quarterly and annual State forms
  • Deposit and file Federal and State payroll taxes in a timely fashion
  • Prepare and file W-2s
  • New hire reporting

Sooner or later, everyone wants to retire. If your family owns a business, you need to be thinking of succession planning. For most family businesses, members of the immediate family play a major role in the future of the company. Whether you’re thinking about the future management of your business, how ownership is going to be passed along, or taxes, you need to take the first step and start the planning process. A good business succession plan should be broken up into 3 main areas: ownership, management, and taxes.

Here’s a partial list of the services we offer:

  • Interview and gather all family data
  • Establish family council to help develop mission and define goals
  • Work one-on-one with Board/family to achieve goals
  • Work with tax and legal professionals to make sure all aspects are covered
  • Look at life insurance and various matters associated with the transfer
  • Help create a legacy by helping to incorporate family values in the plan

Preparing younger generations to undertake key roles when you are gone is important. We will help your family develop a support team of family members and professionals. Along with providing ongoing mentoring to the younger generations and key integration with the elders, we will help assign roles, reduce future risks, and help carry out the vision and mission of the family.

There’s a big difference between estate planning and wealth/business succession planning. We help families develop lasting legacies by putting in place a well-designed family wealth succession plan.

Here’s a partial list of the services we offer:

  • Prepare younger generations to undertake key roles in the future
  • Develop and support team of family members and professionals
  • Ongoing mentoring for younger generations
  • Help assign and identify roles to be assumed
  • Reduce risk, help in the creation of proven leadership allowing for smooth generational transfer
  • Work with family on selection of chairperson
  • Coordination and facilitation of family meetings
  • Work with family on development of a vision statement