Values can help determine goals & a clear purpose.
Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid what their heirs may do with it. 784 more words
According to this Time Inc. Network article, there’s only a 10% chance that wealth will remain with a family for three or more generations. Assuming that this observation, as well as the following statements, accurately reflect reality: are there vehicles that a person might establish in order to increase the chances that some of her/his wealth will be available to support causes that are likely to require multi-generational efforts, beyond three generations, in order to bear fruit? 118 more words
Family Wealth: Keeping It in the Family by James E. Hughes, Jr. (New York: Bloomberg Press, 2004)
I particularly appreciate how this book viewed family wealth beyond just financial assets, including what the author considered the most valuable family assets – human & intellectual capital. 114 more words
When we think of vast family wealth, most of us know the name Cornelius Vanderbilt, the railroad and shipping scion of one of the richest families in America in the 19th century. 326 more words