MacFarlane specializes in estates and trusts at Clark Hill, according to the firm’s website, and aiding clients “for the efficient transition of their wealth.”

The paperwork was filed with the state Nov. 13 and accepted Nov. 15.

Family offices generally function as asset management firms, but are tailored to an individual or family with a very high net worth, said Rob Grimaldi, chief operating officer of the family office at New York-based Viscogliosi Brothers LLC.

A family office is typically staffed with individuals who help with estate planning, tax services, charitable giving, or the management of boats, planes or homes, said Grimaldi, a Michigan resident who's worked with family offices for the past two decades. They also can provide "lifestyle management," scheduling flights or booking hotels, he said.

Family offices in Michigan include those involving the Ford family, the Ilitches and Dan and Jennifer Gilbert. The industry standard for a family office usually involves individuals or families with a threshold net worth starting at between $100 million and $150 million, Grimaldi said. It's possible, however, that someone could start a family office with less if they expected their wealth to grow in the near future.

"There’s no minimum stated," Grimaldi said. "I could start a family office with zero assets, but if you’re going to have any level of staff or activity of any kind, you’re going to have to pay for that. It needs to be cost effective”

Whitmer also reported, among her assets, full ownership of her summer home in Elk Rapids, which is valued at about $418,200. Whitmer does not pay to live at the governor’s residence in Lansing or for use of the governor's home on Mackinac Island.

Gilchrist, Benson, Nessel report

Lt. Gov. Garlin Gilchrist also disclosed the dollar amounts of his stock and retirement accounts for a total of about $435,000. He disclosed his home in Corktown was valued at about $1.1 million; Crain’s Detroit Business reported the fifth-floor penthouse was on the market last year with an asking price of about $1.9 million.

Secretary of State Jocelyn Benson initially filed her disclosure without dollar amounts — which is all that’s required under current law — but updated the filing later in the day with more detailed information. Benson had previously disclosed her finances voluntarily in 2019.

Benson disclosed her role as director for Ross Initiative in Sports for Equality (RISE), her ownership of her Detroit home worth about $500,000 and a couple of 401(k) retirement accounts worth about $590,000. Benson also disclosed she remains a tenured professor at Wayne State Law School, where she took an unpaid leave of absence in 2019.

She also disclosed about $100,000 in savings accounts she holds jointly with her husband, Ryan Friedrichs, a lobbyist for Related Companies, the real estate development firm of New York billionaire Stephen Ross, who founded RISE.

Attorney General Dana Nessel disclosed ownership of her Plymouth home and a couple of retirement and investment accounts, without listing dollar amounts regarding the mortgage or the value of her 401(k) account.

While Nessel has not previously made a voluntary release of her finances in the same way as Whitmer and Benson, her office said she released some financial information upon request of media outlets during her 2018 campaign.

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