For families engaging in strategic planning, the proverbial questions remain the same… What does the rising generation need to know? How do we deliver that? What should we expect from them? Intentional families consider these questions for years.
The most problematic challenge wealthy families face is not how to make more money, but how to ensure that it lasts. This requires focusing on something other than money. Successful families, whose wealth lasts for many generations, follow five key practices.
The most successful enterprises, whether they’re companies or families, make a concerted effort to capture and articulate what is at their core. Taking the time to discover what drives you and your family is an investment worth making.
Nothing says, “I'm not sure our marriage will last,” like asking your new fiancé for a prenuptial agreement. This situation can be made even more touchy if the parents of the bride or groom are the ones insisting on the agreement.
Families that have accumulated significant assets want to know how to best prepare the rising generation to help them maximize the benefits available to them, while also minimizing the unique challenges that occur when navigating the world of wealth.
