FOXcast
FOXcast
Podcast Description
The issues that come up in a family office or family enterprise are unique to each family and are rarely discussed in a public forum. In this podcast, Family Office Exchange reveals some of these issues in discussions with family office subject matter experts, family members, and trusted advisors. The podcast gives the listener a taste of how having a FOX membership can transform the way families and their trusted advisors approach ideas like philanthropy, governance, investing, and more.
Podcast Insights
Content Themes
The podcast covers themes related to family office management, wealth transitions, philanthropy, and family governance. Episodes feature discussions on topics such as optimizing investment strategies with private placement life insurance, understanding the impact of marriage and relationships within multigenerational families, and innovative approaches to charitable giving with donor advised funds.
The issues that come up in a family office or family enterprise are unique to each family and are rarely discussed in a public forum. In this podcast, Family Office Exchange reveals some of these issues in discussions with family office subject matter experts, family members, and trusted advisors. The podcast gives the listener a taste of how having a FOX membership can transform the way families and their trusted advisors approach ideas like philanthropy, governance, investing, and more.
Today, I’m excited to speak with Van Carlson, Founder & CEO of SRA 831(b) Admin, a specialized risk management solutions company. Van has over 25 years of experience within the risk management industry. Prior to founding SRA, Van ran his own property and casualty firm for 15 years and was awarded Presidents Council’s and other top-performing achievements during his tenure as a P&C Agent. In 2008, he saw the Great Recession hit his commercial business clients hard, and just like them, he was also affected by the sharp economic downturn. Out of that challenging experience, he emerged committed to developing better ways to manage risk and improve business operations for his clients, and consequently founded SRA 831(b) Admin to pursue this mission.
In this episode, we delve into the topic of micro-captive insurance plans, or 831(b) plans, and the ways family businesses and family offices can deploy this specialized tool to manage a range of risks. Van covers the fundamentals, offering our audience an overview of how 831(b) plans work and why wealth owners and family enterprises should consider deploying this innovative risk management tool.
There are many ways 831(b) plans can create value for families and their enterprises. Van describes the most common use cases families and family offices can address by deploying 831(b) plans and shares some examples of the different unfunded liabilities this tool can help address.
One very practical and helpful tool Van developed is the 831B.com website. He talks about the resources that are available on the website and how families and family office teams can utilize this public resource.
The 831(b) solutions have many positive applications, but as is the case with everything in life, there are also downsides to consider. Van covers the potential risks associated with 831(b) plans and shares his tips on how our listeners can avoid or mitigate these risks.
Please enjoy this insightful conversation with a pioneer and thought leader in the technical field of micro-captive insurance plans.
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