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Philanthropy

Philanthropy - Family Foundation Planning - Wealth Preservation Solutions

360° Family Foundation Management

Wealth Preservation Solutions, LLC, specializes in providing 360° Wealth Management to Family Offices, Family-Owned Businesses, and Family Foundations. We provide day to day, turn-key foundation management and administration, so that the family can focus on expressing their charitable intent.

  1. 1Create the Mission Statement

    Most family foundations have a particular charitable intent and annual giving plan. We will help you craft a simple statement that clearly expresses your goals and objectives for your foundation.

  2. 2Prudent Investment Management

    Foundations are required to follow the “Prudent Person” rule. In other words, what would a prudent person do in these circumstances? While this rule does leave some room for interpretation, we understand that the assignment is to distribute 5% per year and also to grow the principal. We will develop a mutual understanding of the level of risk necessary to accomplish your goal, and create an Asset Allocation plan consistent with your risk tolerance and the prudent person rule.

    Once the foundation is funded, we will invest using Dollar Cost Averaging. We will agree upon an investment timetable between three months and nine months. The basic plan will be to invest an equal amount each month over the agreed upon period. We may take advantage of special market conditions for stocks or bonds if they arise. This will be discussed and agreed upon BEFORE any action is taken.

    We will assist you in developing a Cash Flow Plan, and it will be our job to make cash available according to that schedule. Our standard format is to meet and review the portfolio quarterly. This can be done by video conference or in person at our office in Paramus, or your office, at your convenience.

  3. 3Implementation

    If and when you decide to use our firm, we would immediately go to work to put everything into place. We will be in position to initiate the plan, as soon as you are ready to fund the foundation. This means that we will have created the Mission Statement, agreed upon the Investment Strategy, opened the accounts, and set up online access. It would be ideal, if possible, to have selected the charities to support, so that we can confirm their 501(c)(3) status and have the checkbook and/or wiring instructions in place. Once we have addressed all these steps, we can start implementing the plan.

  4. 4Quarterly Review

    Let’s plan to meet quarterly to make sure that we keep your plan on track. During this review, we will, of course, review portfolio performance and agree upon any adjustment that may be required. We will also double-check the cash flow requirements, charity confirmation status, review all administrative procedures, and touch base with the advisor team for any open items.

  5. 5Foundation Administration

    Most families enjoy helping charities that are important to them. Very few enjoy the day to day administration. Our goal is to alleviate the day-to-day management for you. Once you tell us which groups you want to support, our team will vet them and confirm their 501(c)(3) status. We will also obtain the required Acknowledgement Letters. If you want, we can also handle all of the bookkeeping tasks, generate the checks and wires, and provide that information to the CPA. Finally, and most importantly, our team will prepare the IRS Form 990 PF each year.

  6. 6Adivsor Coordination

    We have learned, over the years, that it is vital for all the parties involved in the management of the Family Foundation to work closely together and coordinate their activities in order to realize the charitable intent of the family. Otherwise, things have a way of falling between the cracks. We have spent 30 years perfecting our process of working effectively with the family, trustees, CPAs, Attorneys, and Investment team.

    If our approach makes sense to you, please feel free to contact us to discuss the next steps.

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Work. Life. Money. Insights by Kevin Ellman CFP
Work. Life. Money. Insights by Kevin Ellman CFP
Kevin Ellman, Certified Financial Planner, shares the stories of his life as the foundation for his outlook on the economy, market, and current events. Please see website for additional disclosures at https://wealthpreservationsolutions.com/kevin-ellman-cfp-podcast/

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Episode #8: Kevin Ellman Certified Financial Planner: Markets don’t like uncertainty… Looking ahead to 2021 and beyond…
by Kevin Ellman, Certified Financial Planner

What do we do? How do we plan? Should we wait? We all have a lot of questions as it relates to our current plan and the effect the upcoming election may have. Listen in to hear Kevin’s perspective on what to expect, how to prepare now and most importantly, how to be ready to move in the best direction for your plan…

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Episode #8: Kevin Ellman Certified Financial Planner: Markets don’t like uncertainty… Looking ahead to 2021 and beyond…
Episode #8: Kevin Ellman Certified Financial Planner: Markets don’t like uncertainty… Looking ahead to 2021 and beyond…
October 8, 2020
Kevin Ellman, Certified Financial Planner
Episode #7: Kevin Ellman Certified Financial Planner: 1, 2, 1-2-3! Just like that, it came back to me, and my hands started to move.
September 2, 2020
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August 17, 2020
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Episode #5: Kevin Ellman Certified Financial Planner: You can learn an awful lot by paying attention.
July 20, 2020
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Episode #4: Kevin Ellman Certified Financial Planner: "I was an excellent driver for a 4 year old”
July 6, 2020
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Episode #3: Kevin Ellman Certified Financial Planner: From rowboat to speedboat; Thinking outside the box
June 15, 2020
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Episode #2: Kevin Ellman Certified Financial Planner: Coat room boy, cigar and mint boy, cashier and restaurateur, all by the age of 10.
June 6, 2020
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Episode #1: Kevin Ellman Certified Financial Planner learns lifelong lessons at age 16 on an African safari during summer break.
June 5, 2020
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The Wealth Preservation Solutions Team

  • About Us Overview
  • Dennis J. Amico
  • Kevin Ellman CFP®
  • Paul D. Miller
  • Robert W. Davis CFP®, RICP®
  • Dolores White
  • Susan J. Forman CFP®
  • Carrie Ware
  • Michael Csedrik
  • Elizabeth D’Aleo

Articles & Videos On Investing

  • Finding A Financial Advisor – Part 1
  • Finding A Financial Advisor – Part 2
  • Exchange Traded Funds Part 1
  • Exchange Traded Funds Part 2
  • Exchange Traded Funds Part 3
  • Dollar Cost Averaging
  • Dividends Part 1
  • Dividends Part 2
  • Strategies to Help Maximize Your Money
  • Our Investment Planning Process
  • Estate Tax and Succession Planning After the Cliff
  • Estate and Business Succession Planning

Services Overview

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About Wealth Preservation Solutions

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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Wealth Preservation Solutions is not affiliated with Kestra IS or Kestra AS.

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