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One of the greatest concerns among wealthy parents is that the family’s great fortune might inadvertently lead to misfortune for their children. Raising responsible children in affluence is a life-long task requiring patience and persistence. Like learning to read, financial literacy is a process that is best started in early childhood. Teachable m...

Even when there's social distancing, family meetings are still important, maybe even more so to maintain family connectedness and sense of purpose. While connecting through technology can’t fully replace the experience of meeting in person as a family, you can make the experience more intimate. This report will help you organize and conduct a virtu...

Inflation is almost always a topic of discussion when thinking about and planning for the future. This paper explores the many factors that affect the inflation rate, whether an uptick in inflation is helpful or harmful, and the cyclical forces that could push toward higher inflation. Despite all the theory and prognostication, no one knows exactly...

One of the most common concerns families have revolves around how to share wealth with family members without encouraging entitlement. With forethought and care, giving well and wisely can bring families together and strengthen the bonds between generations. The steps to giving wisely—and fostering flourishing over entitlement—include clarifying yo...

At some point, most families ask if they should have a family meeting, recognizing the importance of providing a forum for sharing news, concerns, opportunities, and challenges in an open and direct way. Family meetings are often seen as a great place to learn, whether the topic is investments, business, legal matters, or the family itself. Further...

With the recent changes in the transfer tax laws, it is possible to transfer greater wealth and reduce income taxes through POAST. This innovative approach and integrated trust technique allow a wealthy individual (the donor) to provide benefits to both parents and descendants. A properly structured POAST can accomplish multiple objectives, includi...

Families with significant wealth often assume that requiring a prenuptial agreement should be expected, but frequently have questions on the impact the discussion can have on current and future family relationships. Through effective communications and careful development, a prenuptial agreement can enhance and clarify a couple’s financial re...

It can be surprising to hear that just 30 percent of families successfully sustain their wealth beyond three generations. The reasons for wealth transition failures are generally personal rather than technical—resulting from a breakdown of communication within the family, inadequate preparation of heirs, and lack of a shared family vision. Su...