The Legacy Family: The Definitive Guide to Creating a Successful Multigenerational Family

Hardcover | January 13, 2010

byL. Hausner, D. Freeman

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Though statistics indicate that trillions of dollars will be transferred to the younger generation in the next 50 years, the recipients of that inherited wealth are unlikely to preserve and pass on their inheritance intact. Faced with this prospect, many families today wonder how to successfully transmit to their progeny their own capacity, connections, compassion, and competency that built the original wealth, so that future generations can enjoy these same advantages, and more.

The Legacy Family, written by two experts in the field, will provide readers with a roadmap for detailing how to leave family wealth and more importantly, legacy, intact.  Readers will learn a variety of skills, from how to articulate a collective vision for the future that can be embraced by all family members to the importance of creating a process so that future generations can help each member shape their own future, while nourishing their close family bonds.

This is must reading for any family that wishes to ensure that their future generations have a solid foundation on which to build successful lives.

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From the Publisher

Though statistics indicate that trillions of dollars will be transferred to the younger generation in the next 50 years, the recipients of that inherited wealth are unlikely to preserve and pass on their inheritance intact. Faced with this prospect, many families today wonder how to successfully transmit to their progeny their own capa...

Douglas K. Freeman is Senior Managing Director of First Foundation Advisors, a strategic planning and wealth advisory firm for individuals, families, and foundations in Irvine, California. He provides strategic planning and organizational management advice for business, nonprofit, foundation, and family clients. He has been recognized...

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Format:HardcoverDimensions:224 pages, 9.25 × 6.1 × 0.04 inPublished:January 13, 2010Publisher:Palgrave Macmillan USLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0230618928

ISBN - 13:9780230618923

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Extra Content

Table of Contents

Introduction * Roadmap to a Legacy Family * The Family Constitution * Family Communications * The Family Meeting * Family Governance * Family Wealth Planning * The Family Bank * Family Shared Assets * The Family Foundation * Financial Competency and Life Skill Training * Family Business Succession * Handling Conflict * The Brain Trust * Taking the First Step * Appendix: Useful Tools * Family Strategic Planning Issues * Sample Family Constitution * Sample Family Meeting Agenda and Topics * Common Feeling Words * Family Conflicts in Wealth Planning Issues and Triggers Checklist * Sample Family Shared Asset Agreement * Comparisons Between Private Foundations and Donor Advised Funds * Ten Frequently Asked Questions Regarding Foundation Governance and Management * Financial Competency Checklist * Reference Books and Reading List

Editorial Reviews

"A must-read for every financial family.”--Sara Hamilton, Founder and CEO, Family Office Exchange“The encyclopedia of how to keep a family together for at least a hundred years.”--Joseph A. Field, Partner, Withers LLP“The Legacy Family is an invaluable roadmap for multigenerational families and their advisors. The authors address multigenerational wealth in all dimensions – both human capital as well as financial capital.”--Kathryn M. McCarthy, Independent Advisor to Families and Family Offices and former Managing Director, Rockefeller & Co., Inc.“Silence is golden no longer – especially when it comes to a family with substantial assets. How to deal with conflict, how to find a better way to communicate – this is expressed in down-to-earth language with real solutions as only co-author Lee Hausner, long admired for her candor, can deliver so clearly!”--Charlotte B. Beyer, Founder & CEO, Institute for Private Investors