The Dilemmas of Family Wealth Insights on Succession, Cohesion, and Legacy [Hardcover]

Few families are able to pass along their wealth successfully to the next generation. The barriers to keeping money in the family are much more formidable than the barriers to making money in the first place. Why should this be? What pitfalls are most common? How can families and their advisers increase the odds of a successful intergenerational transfer of wealth? How can they preserve the family’s human and intellectual capital?

Judy Martel, CFP®, provides insightful answers to these questions and dozens more in this richly detailed book. The Dilemmas of Family Wealth takes a fresh look at the communications barriers, misunderstandings, and generational conflicts that can pull families apart and scatter their wealth in far less time than it took to build it. Martel identifies the dilemmas that families are likely to face and offers wise counsel for overcoming the challenges they pose. Her book includes advice and perspectives from top experts in the field and frank first-person experiences related by family members with whom they have worked.Foreword.
Introduction.
About the Contributors.

Part One: Transitions and Letting Go.
Introduction.

1     Succession and Letting Go of a Business.
Dilemma: It’s time to plan for succession, but I don’t
know how to let go of the business.

2     Keeping Future Generations Connected.
Dilemma: I sold my business at the right time and have more than enough to take care of my family, but I feel alone and uncomfortable in my new position of wealth. What do I do with my time, and how do I preserve a connection with thl3.