Preparing the Next Generation for the Responsibilities of Ownership

Abstract

Sustaining the family and its wealth beyond the lifetime of the founder is a challenging goal to which most families aspire. Unfortunately, all too many families fall short, not for lack of desire but of preparation of the next generation for the responsibilities of ownership. More than anything else, it takes thoughtful, intentional preparation of all family members to sustain wealth generation after generation. The result of six months of research and study with some of Family Office Exchange's most sophisticated members, this landmark article not only examines the need for thoughtful, intentional preparation for ownership but also provides proven strategies for sustaining family wealth for multiple generations.