Jennie Cherry and Miles Padgett, Kozusko Harris Duncan
Friday, April 12, 2019
Over the past decade, matriarchs and patriarchs of successful families have been shifting their focus of the family’s largess from their children to a broader group of individuals, such as grandchildren, siblings, and nieces.
The headlines were hard to miss: wealthy parents and coaches indicted on federal charges in a college admissions bribery scheme. Over 50 people, parents and higher education professionals, were charged with “racketeering conspiracy”—cheating to get kids into elite universities.
In light of the recent severe weather events around the world, the Intergovernmental Panel on Climate Change’s Special Report on Global Warming of 1.5°C has caught the attention of the media and the public.
When initiating charitable work, it is important to remember that a foundation is also a business that requires developed governance practices. As Bill Gates said, “Effective philanthropy requires a lot of time and creativity.
Preparing the next generation of family leadership is often the top concern for wealth owners. It is crucial to gain an understanding of the Rising Gen community: What makes them different? What do they care about? How do we best bridge the gap between generations?
The results of the U.S. Family Business Survey findings brought out the importance of being prepared to compete in a far more digital economy. Family businesses have built up trust among loyal employees and their ownership group.