Individual and Family Wealth

Shepard Schwartz & Harris is an advisor to individuals and families possessing significant wealth.  Most of these relationships necessitate sibling and multi-generational issues be addressed, which our partners and managers provide with great care and finesse.  Further, many of our clients are entrepreneurial in nature - starting, building and then selling several companies over the course of their careers - and require a multitude of business consulting and tax advisory resources. We also work closely with our clients to advise on tax advantaged structures that permit the transfer of assets as well as establishing trusts for the care of young and adult children, including those with special needs.

Client Profiles

• For more than 40 years, Shepard Schwartz & Harris has advised a Chicago entrepreneur on a wide range of business and personal planning issues.  This client established and sold three manufacturing businesses over the course of his career, and five of his six adult children were involved in the various businesses.  He now owns a motorcycle dealership, a business which also involves his children.  In addition to providing audit, tax compliance and business consulting relating to his entities, our firm advises on estate planning and tax compliance issues.
• We are the business and tax advisors for a former attorney, turned real estate developer and business entrepreneur.  During the course of this individual’s noteworthy career – spanning 40 years – he has launched a highly successful real estate development company, founded a health care management company which eventually went public, and started a medical records coordination company which was sold to a group of private investors.  In addition to providing audit, accounting, tax and business consulting services to the entities, both a son and nephew are involved in the real estate company and we perform all of the tax compliance work for the involved families.
• As part of our work with closely-held companies, our accounting and tax advisors support the owners through their initial growth planning and business success – to advising on exit strategies that meet each client’s goal for transferring assets, whether it be to family members who get involved in the business, employees in the case of an ESOP transfer or selling the business to a non-family member.