Resource Search

A paper from Memoir Shoppe examines ethical wills and the age-old tradition of passing on spiritual assets. Most commonly written as letters, ethical wills are a unique, everlasting forum through which the ultra-wealthy come to understand and accept that authentic wealth can come from perpetuation of values, hopes, convictions, lessons learned and heartfelt blessings.

Families need to learn how to talk about money openly and participate in saving, spending and giving together. The result, Silver Bridge Advisors says, will be an increase in the number of financially thoughtful children in the world, a greater ability for the next generation to use their wealth responsibly, and an increased likelihood that family values will endure for generations.

The differences between the belief systems and practices of stewards and inheritors within single Asian families and the confusion they create.

A business-owning family can create a secure foundation for effective multi-generational ownership and control by transferring shares of a family business in trust during the controlling owner's lifetime, and through careful drafting of trust provisions, choice of governing law, selection of a capable trustee and implementation of effective family governance processes, Withers Bergman says.

An excellent trust beneficiary addresses the fact of his trust's existence and its implications for his life at increasing levels of understanding, moving from assimilating fundamental information to successfully managing relationships to seeking personal well-being and fulfillment. Instead of being the focal point of the beneficiary's life, the trust assumes a supporting role as financial capital in service of his journey toward excellence.

This is the first in a series of three articles based on the notion that wealth planners have a unique opportunity to help client families succeed over multiple generations. In this installment, the author looks at the differences in thought and outcome between a transfer plan and a transition plan.

Preserving family stories is as valuable a legacy as passing on material possessions. This white paper discusses the various media that families can use to preserve precious memories and other elements of their histories. In addition, the paper offers professional guidance for undertaking such a project.

Most parents strive to give their children a solid education. Yet among some wealthy families, one area of schooling could use a little more parental TLC. It won't lead to a diploma or show up on anyone's curriculum vitae. But without a solid understanding of their family's wealth, some members of the next generation may be ill-equipped for it.

The current financial crisis has caused many individuals to re-evaluate the role that money plays in their lives and has given families the perfect incentive to have realistic conversations about money. Noting that family advisors and mental health professionals long have advocated "financial parenting," this paper offers guidance for raising financially responsible children.

It is clear that affluent women today are involved, aware and knowledgeable about their wealth and wealth management. Indeed, more women are overcoming inherent obstacles and stereotypes by reaching out for additional financial knowledge and engaging experts as well as spouses to aid them in making prudent wealth management decisions.