Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
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Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
THE FAMILY BANK provides a means for a family’s wealth to be leveraged by making loans available to family members on terms not available commercially.
James E. Hughes • Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
Today, all Rockefeller family members are invited to meet once a year at the family seat. The agenda includes individual concerns, generational concerns, and familywide concerns. The Rockefeller vision—that each generation has issues unique to it and that it must deal with—is brilliant. In every system of family governance a critical part of the
... See moreJames E. Hughes • Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
It is a classic three-stage process: first, a period of creativity; second, a period of stasis or maintenance of the status quo; and third, a period of dissipation. Is this rags-to-riches-to-rags cycle inevitable? I believe it is not,
James E. Hughes • Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
The assets of a family are its individual members. (D) The wealth of a family consists of the human and intellectual capital of its members. A family’s financial capital is a tool to support the growth of the family’s human and intellectual capital. (E) To successfully preserve its wealth, a family must form a social compact among its members
... See moreJames E. Hughes • Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
Long-Term Wealth Preservation as a Question of Family Governance
James E. Hughes • Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
The mission of family governance must be the enhancement of the pursuit of happiness of each individual member. This will enhance the family as a whole and further the long-term preservation of the family’s wealth: its human, intellectual, and financial capital.
James E. Hughes • Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
the family balance sheet measures human and intellectual capital as well as financial capital. The family balance sheet is an attempt to measure how well a family is managing its human capital. A family balance sheet is an addition to, not a substitute for, a family financial statement. A family wealth management business, like every other
... See moreJames E. Hughes • Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
But families attempting to overcome the “Shirtsleeves to shirtsleeves in three generations” proverb should define short-term as twenty years, or one generation; intermediate as fifty years, or two generations; and long-term as one hundred years, or three generations. This difference of view profoundly affects the nature of the assets and
... See moreJames E. Hughes • Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations (Bloomberg Book 34)
The mission of family governance must be the enhancement of the pursuit of happiness of each individual member.