CASE STUDY

How BPM Transformed Estate Planning and Saved Millions for a Prominent Family Office 

October 22, 2025

Services: Family Office Services

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A distinguished family office with extensive philanthropic operations across all 50 states partnered with BPM to modernize their financial operations and address critical estate planning gaps. This engagement demonstrates how proactive advisory services can uncover significant opportunities for tax savings while providing comprehensive family office support. 

The Problem 

When BPM began working with this sophisticated family office in March 2022, the clients faced several pressing challenges: 

Outdated Financial Infrastructure: The outgoing CFO had been using QuickBooks 2006 and maintaining paper files, leaving the foundations and family office operations in need of modernization and cleanup. 

Neglected Estate Planning: When the patriarch requested help distributing  gifts to loved ones, BPM discovered that no gift tax returns had been filed since 2000. More concerning, the family had not implemented any wealth transfer strategies despite having started with over $1 billion in assets. 

Inadequate Legal Support: The existing tax attorney, overwhelmed by the complexity of the estate, resigned when pressed for wealth transfer strategies, leaving critical trust documents with significant errors that could have resulted in assets being transferred incorrectly and subject to probate. 

Complex International Considerations: The matriarch’s dual citizenship and ties to Europe, including regular attendance at royal events, created additional estate planning complications requiring specialized expertise. 

The Solution 

BPM implemented a comprehensive approach that went far beyond traditional CFO services: 

Immediate Education and Assessment: BPM convened a family meeting to educate all stakeholders about estate taxes, lifetime exemptions (then $26 million, now $30 million), and potential mitigation strategies. 

Strategic Advisory Team Building: When the existing tax attorney resigned, BPM leveraged its network to connect the family with a highly qualified estate planning attorney who could handle the complexity of their situation. 

Systematic Estate Restructuring: Over 12 months, BPM worked with the new attorney to: 

• Identify and correct critical errors in revocable trust documents 
• Implement sophisticated wealth transfer strategies 
• Address the matriarch’s dual-citizenship tax obligations 
• Ensure proper asset transfers between trusts 

Holistic Family Office Services: BPM established itself as the family’s “first call” for multiple needs, including: 

• Quarterly financial reporting and board presentations 
• Coordination with investment managers and alternative investments 
• Insurance portfolio evaluation 
• Cybersecurity risk assessment 
• Access to a curated network of service providers, from litigation support to luxury travel planning 

The Outcome 

BPM’s proactive approach delivered transformative results for the family: 

Millions in Tax Savings: Through proper wealth transfer strategies and trust restructuring, the family will save millions of dollars in estate taxes that would have been owed without intervention. 

Protected Legacy: By correcting trust documents and implementing proper transfer mechanisms, BPM prevented assets from unnecessarily going through probate and ensured the family’s wishes would be properly executed. 

Trusted Partnership: The family now has a comprehensive support system, with BPM serving as the quarterback for all advisory relationships. The firm has become so integral that the patriarch calls BPM first for nearly any need. 

Ongoing Excellence: With phase one complete for the patriarch’s estate, BPM has begun phase two focusing on the matriarch’s more complex international estate planning needs, ensuring continued protection and optimization of the family’s wealth. 

Partner With BPM for Your Family Office Needs 

Whether you’re seeking to modernize your family office operations, optimize your estate planning, or establish comprehensive advisory support, BPM’s experienced team can help protect and enhance your family’s legacy. Contact us to learn how our tailored family office services can address your unique needs.