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Crafting a family story as part of your family history is essential in helping rising generations understand and embrace their roles in the family enterprise. For a family with a business, that story will enormously benefit the younger generations whether or not they are actively involved in running the family business. Understanding the roots of t...

What does it mean for a family funder to share and shift power? Here are ideas and questions to help guide an internal discussion on how your policies and practices affect the power dynamics of your philanthropy, and what you can do to alleviate this in your grantmaking, governance, and management practices.

In this Executive Summary of the Trends 2020 survey report, conducted by the National Center for Family Philanthropy, it shares the updated trends on the governance and management practices of U.S. family foundations, and includes new questions relevant to ongoing changes in the field including issues of equity, place-based giving, transparenc...

Successfully transitioning family assets from generation to generation is hard work. And for many families, talking about money or family wealth can be awkward and uncomfortable, or simply delayed, which hinders younger generations from absorbing the critical information and know-how that is necessary for a smooth transfer of wealth and responsibil...

Every new leader faces challenges. But for those who are breaking barriers within nonprofits or family foundations, the challenges are even more pronounced. The new leaders must find their footing and navigate cultures that either overtly or subtly remind them that they are different, whether they are the first person of color, first woman, or firs...

By fostering the idea of giving from a young age, children can learn the value and joy in helping, sharing, and giving to those who have less than them. Instilling the core ideals of philanthropy in your children's lives can also help them develop a sense of purpose and self. The key is to educate and give them something to emulate.

Market research reveals that nearly 70% of intergenerational wealth transfers fail by the third generation and almost 90% by the fourth. These are compelling statistics which have become top of mind concerns for many families as they plan their wealth transition to the next generation. For Australian families, there are three key challenges they fa...

The most problematic challenge wealthy families face is not how to make more money, but how to ensure that it lasts. This requires focusing on something other than money. Successful families, whose wealth lasts for many generations, follow five key practices.

What might your best stock holding, a piece of real estate, shares in a privately held company, interests in private equity, venture or hedge funds, fine art, collectibles, and bitcoin have in common? Whether you purchased them for love or investment purposes, they could be among the best items to give to your favorite charities to realize maximum ...

Nothing says, “I'm not sure our marriage will last,” like asking your new fiancé for a prenuptial agreement. This situation can be made even more touchy if the parents of the bride or groom are the ones insisting on the agreement. However, if approached positively and created thoughtfully, a prenuptial agreement can have benefits for both partners ...

Succession is not just about money or property. It means confronting family relationships and taking the time to make sure that the drivers for succession planning connect personal motivations, the purpose of wealth, and specific family issues. It requires an emotional commitment to a process that once started must run its course, including having ...

A foundation is a powerful platform through which families can address the challenges in society about which they care about most. Yet, most families only use a small portion of their foundation assets to pursue their philanthropic missions. As families grapple with the scale of funding solutions to the world’s toughest challenges, many are t...

Many families recognize the importance of preparing future family leaders for the responsibilities of wealth through education programs. It’s a process that needs to be cultivated over many years in a thoughtful and planned manner. However, far too often the next gen education programs fail to get off the ground or maintain momentum. Family members...

Research indicates that multigenerational involvement is the single most important factor in sustaining family wealth into the third generation and beyond. Furthermore, the families that most successfully integrate younger members into their family operations seem to share the same philosophies and core values. It’s a family enterprise mindset that...