The Human Dimension Estate planning is about protecting assets over time for the good of beneficiaries. Many grantors and advisors work hard on the first part, protecting assets, but do not adequately address the second part, creating a positive impact for beneficiaries. Many grantors intend for their trusts to become a gift of love that […]
FGE
What is Flourishing? A Family Office Guide to Human and Family Flourishing
Humans instictively seek flourishing. Whenever we do something, we do it with an aim towards some idea of happiness. The gap between our efforts and the results often comes from our being mistaken about what flourishing truly is or how to attain it.
Family Values Discovery – Building Genuine Alignment
Conducting a core values discovery exercise is a common first step in developing a family governance plan. Businesses will often perform a similar exercise to discover core values. Unfortunately, a values discovery exercise can become an ineffective cliché if it does not actually reflect or impact the behavior of the family. Even worse, poorly chosen […]
Helping the Rising Generation Make Better Decisions
“… discover for yourself what is necessary and what is superfluous.” (Seneca, Ep. 110) “90 percent of success is not getting distracted.” — Shane Parrish Superfluous (adjective) su̇-ˈpər-flü-əs : exceeding what is sufficient or necessary : EXTRA At a Glance One of the keys to happiness and productivity is learning how to prioritize. In the internet age this is more difficult than […]
Building Resilience in Families of Wealth
Everyone faces some kind of adversity on life’s path. Building resilience is a way to build a higher chance of success. Resilient individuals (including entrepreneurs, athletes, and musicians) all share an ability to effectively cope when they face those setbacks and move forward. They use failure as a feedback mechanism to get better and keep […]
Managing and Resolving Family Disputes
Successful families often have many family members with strong opinions. Their success has come from sticking to ideas, intuitions, principles, and processes, often in the face of opposition. However, there may come a time when this tendency may also lead into a seemingly intractable disagreement among family members. Ideally the family is resilient enough to […]
How to Ask the Right Questions in Family Governance
Questions Build Rapport Meaningful relationships with others are an important ingredient of success and happiness in life. Knowing how to ask the right questions can help build meaningful relationships. It’s rare when great achievements come about solely because of independent intelligence or efforts. Relationships are the foundation of what James Hughes has called “social capital”—one […]
Building the Family’s Spiritual Capital
Two and a half thousand years ago, Solon, the Athenian wise man and lawgiver, visited the wealthiest king of his time, Croesus of Lydia (now Turkey). 1 This is the same Croesus from whom we get the expression “rich as Croesus.” Croesus showed off his fantastic wealth to Solon, and then asked him, “Who is the most […]
Intentional Philanthropy for Families of Wealth
Most people learn at a young age that it feels good to give to others. Many people have been taught by parents, teachers, or mentors that “it is better to give than to receive.” Some people attach a moral or spiritual significance to giving. However, the act of giving itself can be quite complex, involving […]
Five Core Principles for Building a Family Office
Role of the Family Office Some family offices are simple, consisting of a registered investment advisor and a few ad hoc services. Others are complex, involving multiple non-family advisors and external service providers. No matter the size or structure, the dynamics of a family office are always multifaceted. The role of the family office is […]