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While many families are expending effort on important concepts such as improving financial literacy, defining family shared values, and creating family mission statements, such efforts are likely to be lost if families do not first focus on one fundamental aspect of a successful family: Communication. Effective communication is an ongoing effort th...

Parents often find it difficult to discuss their wealth with their children, especially when it comes to what will happen to their wealth when they die. But when parents do not clearly detail their intentions or prepare their children to receive the family’s wealth, they risk outcomes that will meaningfully erode the value of their estate. Fortunat...

New findings in brain science and neuroplasticity provide clues on how to create and sustain better leaders, especially within family enterprises. Consider some of the roles and functions we commonly associate with effective leadership in such enterprises: clarifying vision; leading change; creating strong connections between disparate groups; maki...

Based on the voices of 2,650 successful business owners across Europe, Asia, the United States and the Middle East, the Global Entrepreneur Report examines the characteristics and motivators of Elite Entrepreneurs with a total net worth of $40 billion. They are highly motivated, resourceful and skillful in the art and science of entrepreneurialism....

Based on a global survey of high-net worth individuals, including almost 300 family business owners, the eighth instalment of Barclays Wealth Insights provides fresh analysis into the state of family businesses around the world today. The report will assess the current situation and prospects of family businesses, and examine in detail their un...

This paper will examine ways to lessen six of the greatest risks to preserving and enjoying multigenerational wealth. These six risks are: concentrating your assets, overspending, overusing leverage, poor tax planning, not attending to liabilities, ignoring family governance

A hundred years is a long time. It is especially long in an age of the Internet, cell phones and Blackberrys. Society is also very much focused on instant results. Nevertheless, planning for the next 100 years is one of the most critical tasks a wealthy family faces today. With this 100-year plan, a family sets in motion a culture and philosophy th...

The current economic environment offers parents the opportunity to educate their children about the transience of wealth and the need for self-reliance. This paper from Relative Solutions offers suggestions for overcoming a sense of entitlement and for increasing responsibility among next-generation family members.

Solving complex social problems can require breaking down the barriers of centuries-old political, social and ethnic conflicts. This article from Synergos explores the concept of bridging leadership as a method of bringing opposing groups and diverse leaders together for social change.

Adult children, who one day will manage a family's wealth, need to understand the values and investment strategies of older family members. This article from Northern Trust shows how a family's elder statesmen can pass on a family legacy of more than money to ensure continuity and financial security for future generations.

Training children about wealth and financial responsibility can start with teachable moments in everyday life. This article from Calibre offers suggestions for how wealthy families can use these moments, as well as allowances, to help children develop financial literacy and solid money values.

When it comes to reaching your family’s financial objectives and perpetuating its wealth, integrated family wealth planning is critical. A family governance system can significantly facilitate that process. This evergreen guide offers best practices and key elements of an effective family governance system, one that can be instrumental and flexible...

As their personal wealth and educational levels have increased, women have sought a more equal and active role in family governance, philanthropy, and business and financial planning. This article from RayLign explores the changes that have empowered women and how those changing roles affect family leadership, decision-making and relationships.

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 tr...

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.