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.
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...
Despite its challenges, the current economic environment offers opportunities that can benefit family-owned businesses. This article from the Beringer Group encourages family businesses to consider the possibilities that may exist in acquisitions, corporate restructurings, internal buyouts, succession planning and estate planning.
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.
In today’s rapidly evolving landscape, multigenerational families face unique challenges and opportunities that demand thoughtful strategy, robust governance, and the effective utilization of private family capital. This webcast will delve into the essential pillars that enable families to thrive over the long term: mastering complexity, building r...
In a world where conflict is inevitable, how can families with complex family dynamics and complicated structures foster healthy conflict that actually makes them stronger and more resilient. Join Matt Wesley and Cathy Carroll to find the Goldilocks of constructive conflict. They will discuss the mindsets and skills any family can develop, such as ...
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....
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...
For insights on integrated wealth planning, this issue of The Advisor presents a view from the top with Joe Kahn, The New York Times Managing Editor, the impact of globalization 2.0, and the U.S. presidential election 2016 and the candidates’ tax platforms. Also in this issue are the best practices in providing age-appropriate transparency wh...
The American Tax Payer Relief Act of 2012 (ATRA) was passed on New Year’s Day 2013, and established the first permanentset of estate, gift and generation skipping transfer (GST) tax provisions in 12 years. Each year, the administration puts forth tax proposals that may change the current law. This article provides a quick summary of sev...
Having an entrepreneurial culture can help nurture a family legacy by providing pathways for family members to invest in new enterprises and regularly recharge the wealth for future generations. Although it may be challenging to re-energize a family, a dynamic culture of growth can flourish within a thriving entrepreneurial ecosystem. A family inte...
Pitcairn and The Corporate Greenhouse have co-written a case study that validates why talent planning and business planning are equally important and interdependent. The case study discusses how Pitcairn’s CEO is transforming a 90-year-old family business into a high-performing multi‑family office with increased profitabil...
This Family Business Corporate Governance Series "What is a Board's Role in a Family Business?" explains how to build an effective board for your family company, and how boards can assist with some of the particularly challenging issues family companies face. This module discusses why you might want to evolve or ch...
Boards can assist with some of the particularly challenging issues family companies face. There are several different factors that should be considered as a board is created or renewed. While each family company’s situation is unique and every scenario cannot be addressed, the goal is to provide a framework of how corporate governance practic...
Family businesses that continue to prosper from one generation to the next often do so because they have robust governance structures. Nevertheless, many family businesses have not given enough thought to governance. They rely too much on a carefree attitude toward issues such as succession, ownership and management, and they wait until one of...