The Spirit of the Gift: Giving Wisely to Family MembersKeith Whitaker, Ph.D.; Susan Massenzio, Ph.D., Wise Counsel Research Associates Many parents fear that gifts to family members lead inevitably to entitlement. Giving wisely can avoid that result and turn gifts into a force for growth.
Family Learning
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Bridging the Divide: Impactful Family Communications
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Bridging the Divide: Impactful Family CommunicationsDaisy Medici, Managing Director, Governance and Education, GenSpring Family Offices Ineffective communications between and among family members often creates a divide that is difficult to overcome. Communicating effectively, however, is not an easy task that necessitates mastery of communication types, temperament, emphatic listening skills and a keen understanding of the real and perceived meanings of words and attitudes.
All in the Family: The Risk and Rewards of a Family BankWarner King Babcock, AM Private Enterprises, Inc.; and Karen Neal, Managing Director, Consulting, Family Office Exchange Stimulating…and funding…entrepreneurship within a family enterprise can become risky business. How do you find the balance between encouraging the next generation of wealth creators while minimizing financial exposure and risk to the enterprise?
Future Owners of Impact: Empowering the Younger GenerationDanielle Oristian York, Director, 21/64 The next generation can bring unique skills and perspectives to the philanthropic community. However, the prospect of engaging the next generation can be daunting. Next-generation family members have grown up with access to broader opportunities fueled by information technology, increased diversity and global connectedness. The questions they ask, language they use, and even their values and priorities change the way the family communicates.
Creative Engagement - Kanter
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Families often complain about the challenge of getting siblings and cousins more engaged in business and family activities. There is a great divide between the “make it happen” people and the “watch it happen” people in the family, and a risk of burnout for the family members who are providing the leadership.
Creative Engagement - Liautaud
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Families often complain about the challenge of getting siblings and cousins more engaged in business and family activities. There is a great divide between the “make it happen” people and the “watch it happen” people in the family, and a risk of burnout for the family members who are providing the leadership.
Carl Robinson, Ph.D., Managing Partner, Vantage Leadership Consulting In a family enterprise, the greatest challenge is to engage family members effectively in leadership roles and governing board participation. The development of future leaders in the family is critical to its future, and the leaders' participation in family governance is key to sustaining the enterprise. As team of nationally recognized leadership consultants he will put a spotlight on the critical leadership skills needed in a complex family enterprise.
Fundamentals of Values Based Parenting
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Parents want to do what is best for their children and teach them appropriate life lessons at appropriate developmental stages. Knowing what to teach children when is an art, something at which every caring parent wants to be successful. The skill building pyramid outlined in this paper provides a means to gain clarity as to what, specifically, parents are trying to teach their children and how best to go about teaching them.
When the time comes for assets to be dispersed among heirs, everyday objects of sentimental value can become contested belongings. Many parents admit to worrying about the sibling rivalries this process may stir up. Yet, uncertain how to confront these issues, many tend to simply hope for the best. A better course of action: proactive discussion, as a family, during a parent’s lifetime.
Prenuptial Agreements and the Elephant in the Room
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Approached the right way, a prenuptial agreement can strengthen the bonds of marriage and encourage a productive, healthy discussion of finances and expectations. Many religions require a discussion of finances in premarital counseling, but talking about money is very difficult and not a topic many people are accustomed to discussing.