Family wealth transition planning : advising families with by Bonnie Brown Hartley

By Bonnie Brown Hartley

"In relations Wealth Transition making plans, Hartley and Griffith consultant advisers to households with small companies in the course of the elaborate technique of getting ready and shifting wealth to heirs. The authors take a holistic view of transition making plans, concentrating on resources that fall less than the umbrella of monetary capital, in addition to different undervalued resources of wealth: human and social capital"--Provided via publisher.

summary: "In relatives Wealth Transition making plans, Hartley and Griffith advisor advisers to households with small companies in the course of the complicated strategy of getting ready and moving wealth to heirs. The authors take a holistic view of transition making plans, concentrating on resources that fall less than the umbrella of economic capital, in addition to different undervalued resources of wealth: human and social capital"--Provided through writer

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Extra info for Family wealth transition planning : advising families with small businesses

Example text

To introduce the families and give readers the first tools for under­ standing them, the following sections introduce two basic tools: the genogram and trigger events. The Hernández Family of Fresno The Hernández family is a multigenerational, multicultural family with roots in Fresno, California. , who is sixty-two years old when he consults an adviser for the first time for FWTP. 2 presents the Hernández genogram, without coding for behavior pat­ terns. The family members’ collected stories are interspersed through­ out this book.

6. See Chapter 6 for more detail on familial patterns of behavior. 7. See Chapter 7 for more detail on the external forces that affect the family wealth system. 8. See Chapter 8 for a discussion of the wide variety of wealth transition structures suited particularly to business families. 9. See Chapter 9 for a discussion of the creation and implementation of governance systems. 10. See Chapter 10 for a discussion of role clarity and development. CHAPTER 2 The Adviser’s Role Most business families undertake family wealth transition planning with a team of professionals in place.

Each adviser brings a different skill set, which acts as a lens through which he or she views FWTP. But this kind of engagement is qualitatively different from the usual assistance these professionals give to a fam­ ily business. The FWTP adviser provides a family with substantive knowledge, process skills, experience, and the confidence that a family can achieve family wealth continuity. The FWTP adviser helps the family take a long-term view, and facilitates the discussion of dif­ ficult issues of power, money, trust, fairness, and love.

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