People Planning for Family Dynamics Estate planning is about protecting assets over time for the good of beneficiaries. The last part is the most complex and also the most important. While many grantors intend for their trusts to become a gift of love that enhance the lives of beneficiaries, in reality trusts often become a […]
Grupp Law Admin
The Reason to Tell Your Family Story
How long does financial wealth typically stay in the family? The old proverb “shirtsleeves to shirtsleeves in three generations,” implies that accumulated family wealth largely dissipates by the third generation. However, there are families that persist in transferring their spiritual, intellectual, social, human, and financial capitals across multiple generations. These families flourish because they seek […]
Do You Need a Family Constitution?
A family constitution is a morally (rather than legally) binding document that defines the family’s vision, mission, and values, and which broadly explains the legal structure and asset or business operations of the family enterprise. Any family wanting a multi-generational legacy should have a family constitution, especially if the 3rd generation is moving into a […]