Most people with wealth to pass on have never talked to their heirs about how they plan to distribute their assets after they die because they consider the information too…
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Whether you choose to spend your kids inheritance, gift assets or you prefer to hold money back for the kids, managing what you leave behind can be done a few…
The millenial impact research has illuminated a much more caring generation than generally believed, one that is complex in their depth of passion toward causes. http://www.themillennialimpact.com/about The ongoing debate about…
Consider This: In high-net worth families, how large do patriarchal figures loom? Do the second generation feel the challenge of achieving more than their fathers insurmountable (I certainly felt that…
I stumbled across a wonderful article that deals with the intersection of two of my favourite topics: intergenerational issues and the impact of social media on society. It analyses the starkly…
Ageism is the basis for much of today’s social justice activism: Older people are seen as the champions of outdated paternalistic and bigoted notions. ( “OK boomer!”) Have the Baby…
Andrew Carnegie is credited with the most infamous and requoted aphorism in family business. “Three generations from shirtsleeves to shirtsleeves” refers to the commonly held belief that in the lifecycle…
According to Australian research, family businesses are ill prepared for succession planning, appointing a new CEO, or even a strategy for the future of the business. The first consideration is…
Transitioning a business is a once-in-a-lifetime event, and “entitlement” comes up in almost every family discussion, presentation or lecture I give. It has become almost a dirty word when it…
And does being ‘happy’ mean something different to those who have wealth and those who don’t? These are the questions considered in a recent research study. Most anyone who has…
Having independent voices – around the board table, or generally advising the family – can be very helpful to unpack complex, multi-layered issues. They can also assist with the establishment of more formal (but not necessarily too formal) governance and dispute resolution processes.
https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/file/595162/Horizons-September-2019-David_Werdiger.pdf Case Study: A wealth originator dies leaving a second generation son in charge of the operating business and family fortune. A mix of 2nd and 3rd generation family members…
