The odds of sustaining wealth across generations are low, and studies show that less than three percent of failures stem from poor estate planning and poor investment returns.
Research tells us communication is the most essential ingredient for sustaining wealth across generations. But, cross-generational communication can be particularly challenging, especially within families of wealth.
Family connectedness, not money, has the greatest influence on multi-generational family continuity. But when many think about legacy, it’s often in the context of multi-generational financial wealth.
Succession planning for a family business inevitably requires planning for the transition of the management team. This transition presents several challenges, including dealing with non-family managers and with a family member who is not suited for a leadership role in the business.
The question Virginia “Ginny” Esposito, Founder of the National Center for Family Philanthropy, gets asked the most, is “How can I engage my family in philanthropy?” In this episode, Ginny highlights what family business is and common trends in the work she has been in for over 30 years.
Much has been written comparing the administrative, financial, and programmatic criteria of private foundations and donor advised funds. It is often presented as an “either/or” choice.
After the stress of planning for next steps following high school graduation, including the college application process or other life planning, many parents feel as though they are “done.” But many families are not aware of important legal issues that affect their 18-21 year olds, including those
Since the age of 14, Angus McRae had been the sole caretaker of the Markham family lodge and its surrounding 800 acres, where the Markham family connected and bonded.
Throughout their lives, many women will probably face a number of circumstances unique to their gender, and each with financial implications. When it comes to women and money, it is essential for them to find a trusted advisor who understands their distinct needs and to whom they can relate.
