Governance & Education
We often get asked: "When should I tell my kids about the money?”, "What should I tell them?", "How do I have this conversation?”. Sustaining wealth across many generations while maintaining family cohesiveness requires a commitment to building a solid financial education and decision-making process to enable accountability, responsibility, and transparency for successive generations. We call this commitment “Human Capital,” which must be preserved and enhanced over time similarly to any other family financial or tangible asset. With this commitment firmly in place, legacy endures.
- Introduce the importance of family education.
- Determine your family’s specific objectives.
- Create a long-term plan for each generation and each family member.
- Determine internal, external, and collaborative resources.
- Integrate educational components into family and individual meetings.
- Continually evaluate and enhance along the way, expecting adjustments.
Our encompassing family communication and preparedness process begins with building a curriculum for each generation’s members and that is customized based on maturity rather than specific ages. We move at a structured and deliberate pace to assist in the communication of your family’s wealth intentions and complexity through facilitated meetings, breakouts, and offsites.
Family Education Priorities
Lifestyle – Education to include spending, budgeting and understanding cash flows.
Generational – A curriculum to include inflation, investing, taxes, risk management, and structures.
Legacy – Defining and developing your long-term intentions and legacy for generations to come.