Another Step Ahead – Family Office Newsletter

Winning Thoughts from the PKFOD Family Office Collaborative

December 2021

As we continue to collaborate with contributing experts, we take another step forward to help our Family Office clients succeed by exploring opportunities for enriching their lives and their legacies. With so many factors influencing families today, we hope you will find that the topics we cover are relevant and timely. 

Our Family Office experts stand ready to assist ‒ as they have for multiple generations. Contact us today to see how we can help.

Wealth Planning

Build Back Better – The Current Landscape of Tax Reform

The House of Representatives passed the Build Back Better (BBB) Bill (H.R. 5376) on Friday, November 19, 2021. The BBB Bill is now before the Senate. While we at PKFOD recognize you’re getting bombarded with articles about tax legislation, the released Bill reflects a dramatic shift from what many had been expecting for tax reform this year, and we wanted to update you as we approach year-end. To that goal, this newsletter provides a summary of the significant tax aspects of the Bill currently before the Senate. Read more >>

Family Advisory

How Demographic Changes the Impact of Family Enterprises

The demographics of what we once described as the American “family” has significantly changed since the 1960s and especially in the past 20 years. Age, lifespan, cross-cultural diversity, location and differing models and definitions for family life present a very different snapshot of American families less than a generation ago. Read more >>


The Relationship between Non-Cash Assets and Charitable Giving

The pandemic has had a significant impact on virtually everyone … individuals, families, businesses and the nonprofit community each have “war stories.” Families and individuals are reevaluating how they view their wealth and are far more aware of their own mortality. Ask any trust and estate attorney, they will tell you they have never been busier as clients revisit estate plans or, in many instances, finally getting them done. Read more >>


COP26 Climate Conference in Glasgow – Key Takeaways and Potential Investment Implications

As experienced investors know, key geopolitical and macroeconomic events are important to understand in calibrating the investment risk strategy for their investment portfolios. The recent 26th Conference of the Parties (COP26) led to material agreements between the participating nations across various different work streams for the ultimate goal of working together to reduce global warming to 1.5C degrees through the reduction in greenhouse gas emissions. Read more >>

Family Office Dynamics 

Taking Your Fund Private: Is it Time to Transition your Fund to a Private Family Office?

An increasing number of investment fund managers are deciding to return outside investor capital and turn their focus to their family wealth … as well as their personal lives. As one might expect, the roadmap to a successful transition must address a number of issues, including regulatory, accounting, legal and tax. But once completed, feedback from our clients is overwhelmingly positive.  Read more >>


10 Things to Know about the New Art Market

As I write this, a much-heralded private collection of post-war and contemporary art has just been sold in a gala evening “black tie” auction at Sotheby’s, with nearly monstrous expectations of success ‒ all realized in a dazzling, stunning, theatrical event. Read more >>

Contact Us

Learn more about PKF O’Connor Davies Family Office.

Gemma Leddy, CPA
PKF O’Connor Davies Family Office | 646.699.2870

Stephen Prostano, CPA, JD, LLM
PKF O’Connor Davies Family Office | 914.421.5615