Assist in the catalog acquisition process to create greater value for both parties while avoiding direct monetary outlays;
Structure the business to dampen both corporate and personal income taxes by creating a series of tax-friendly current and deferred revenue streams;
Integrate the business from inception with the celebrity's estate plan to freeze the value of the business's assets and maximize his ability to transfer the value to future generations; and
Protect the ownership rights in the music catalogs from potential litigators and creditors, including ex-spouses.
In this capacity, the celebrity multifamily office is taking on a number of functions simultaneously and seamlessly. What makes it all work so well is the highly integrated nature of the endeavor. In these situations, the objective is not only to have a successful business but to ensure that the wealth of the musician is maximized and protected.
The Multifamily Office Advantage
Can successful entertainers work with advanced planning specialists to mitigate taxes? Can celebrities work with business consultants to develop new initiatives? Can successful entertainers obtain all the expertise of a celebrity multifamily office on an a la carte basis?
The answer to all of these questions is: Of course they can.
There are two critical advantages the celebrity multifamily office will have for successful entertainers. One is an in-depth understanding of the celebrity world. More important, however, is the ability of the office to address the needs and wants of the successful entertainer in a holistic manner.
While a top-notch office will provide solutions to specific issues, problems and needs, it should also be all-encompassing and comprehensive. This will allow it to provide more effective and efficient solutions for the celebrities in lives where the personal and professional are often highly intertwined.