{"product_id":"family-wealth-isbn-9781576601518","title":"Family Wealth","description":"\u003cb\u003eThe landmark book that changed the way exceptional families think about their heritage, their wealth, and their legacy to future generations--\u003c\/b\u003e\u003cb\u003enow revised and expanded.\u003cbr\u003e \u003cbr\u003e \u003c\/b\u003eEvery family, looking at the next generation, hopes to confer advantages that are more than just material and financial--to inculcate character and leadership, to inspire creativity and enterprise, to help all family members find and follow their individual callings, and to avoid the financial dependency and loss of initiative that can all too often be an unwanted consequence of financial success. Yet many families never succeed in realizing that vision, much less sustaining it for three, four, or five generations and beyond.\u003cbr\u003e \u003cbr\u003e James Hughes has thought deeply about these challenges, and his insights are at once practical and profound. For more than three decades, he has personally guided multiple generations of families in creating strategies to preserve their human and intellectual capital as well as their financial assets. His teachings synthesize insights from psychology, anthropology, political history, philosophy, economic theory, and the law, with examples ranging from Aristotle to cutting-edge social science theory. His ideas have been taken up by numerous exceptional families, by their advisers, and by scores of authors, practitioners, and academics who have found value in the methods he pioneered.\u003cbr\u003e \u003cbr\u003e The first edition of this book, privately published, became a word-of-mouth classic. Now, Hughes has updated and substantially expanded it with new chapters that challenge conventional notions of wealth and offer guidelines for conserving family assets in the broadest senses. Filled with tested principles and practices for family governance and joint decision making, it is a rich source of workable wisdom that family members can put into practice today, to the enduring benefit and gratitude of future generations.  Introduction.  \u003cp\u003e\u003cb\u003ePart One: My Philosophy.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1 Long-Term Wealth Preservation as a Question of Family Governance.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two: Family Practices.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e2 The Family Mission Statement.\u003c\/p\u003e \u003cp\u003e3 Ritual.\u003c\/p\u003e \u003cp\u003e4 The Family Balance Sheet and Family Income Statement.\u003c\/p\u003e \u003cp\u003e5 Investor Allocation.\u003c\/p\u003e \u003cp\u003e6 Two Important Practices.\u003c\/p\u003e \u003cp\u003e7 The Family Bank.\u003c\/p\u003e \u003cp\u003e8 Protectors, Advisers, Mentors, and Hommes d’Affaires.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three: Roles and Responsibilities.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e9 Control Without Ownership.\u003c\/p\u003e \u003cp\u003e10 Beneficiaries.\u003c\/p\u003e \u003cp\u003e11 Trustees.\u003c\/p\u003e \u003cp\u003e12 Family Philanthropy.\u003c\/p\u003e \u003cp\u003e13 Evaluating the Next Generation.\u003c\/p\u003e \u003cp\u003e14 Peer Review.\u003c\/p\u003e \u003cp\u003e15 The Private Trust Company.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Four: Reflections.\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e16 The Role of Aunts and Uncles.\u003c\/p\u003e \u003cp\u003e17 The Art and Practice of Mentorship.\u003c\/p\u003e \u003cp\u003e18 The Role of Elders.\u003c\/p\u003e \u003cp\u003e19 The Trustee as Mentor.\u003c\/p\u003e \u003cp\u003e20 The Trustee as Regent.\u003c\/p\u003e \u003cp\u003e21 Unexpected Consequences of a Perpetual Trust.\u003c\/p\u003e \u003cp\u003eEpilogue.\u003c\/p\u003e \u003cp\u003eBibliography.\u003c\/p\u003e \u003cp\u003eIndex.\u003c\/p\u003e \u003cb\u003eJames E. \"Jay\" Hughes Jr.\u003c\/b\u003e is of counsel at Day, Berry \u0026amp; Howard and author of many influential articles on family governance and wealth preservation. He is renowned for facilitating multigenerational family meetings with an emphasis on mission statements and governance issues. In addition, Hughes has spoken frequently at numerous international and domestic symposia on estate and trust planning.  \u003ci\u003e\"Family Wealth\u003c\/i\u003e is a brilliant case statement for the importance of the nurturing of character, of self-confidence, and of respect for the value of work. . . . A must-read.\"\u003cbr\u003e \u003cb\u003e—H. Peter Karoff\u003c\/b\u003e\u003cbr\u003e Founder and Chairman, The Philanthropic Initiative, Inc.  \u003cp\u003e\"Essential reading for insightful families.\"\u003cbr\u003e \u003cb\u003e—Sara S. Hamilton\u003c\/b\u003e\u003cbr\u003e Founder and CEO, Family Office Exchange, LLC\u003c\/p\u003e \u003cp\u003e\"Jay Hughes's work with families, including his own, gave him the gift of learning the history of many, many families. Within that context he has written a book that illuminates previously only dimly lit concepts.\"\u003cbr\u003e \u003cb\u003e—Charlotte B. Beyer\u003c\/b\u003e\u003cbr\u003e Founder and CEO, Institute for Private Investors (IPI)\u003c\/p\u003e \u003cp\u003e\"An approach to wealth preservation that values not only money but people. Hughes shows us why that approach matters and how it works for the family that wants a better future for itself and the world at large.\"\u003cbr\u003e \u003cb\u003e—Peter White\u003c\/b\u003e\u003cbr\u003e Managing Director, Family Advisory Practice, Citigroup Private Bank\u003c\/p\u003e \u003cp\u003e\"Invaluable direction . . . an essential guide for the creation of legacy families.\"\u003cbr\u003e \u003cb\u003e—Lee Hausner, PhD\u003c\/b\u003e\u003cbr\u003e Author of \u003ci\u003eChildren of Paradise: Successful Parenting for Prosperous Families\u003c\/i\u003e\u003cbr\u003e Partner of IFF Advisors, LLC\u003c\/p\u003e \u003cp\u003e\"Incredibly provocative, thoughtful . . . a must-read for those we call 'patriarchs' and 'matriarchs,' their key intermediaries, all trustees and beneficiaries, and everyone who aspires to earn the title 'trusted adviser.'\"\u003cbr\u003e \u003cb\u003e—Michael J. A. Smith\u003cbr\u003e \u003c\/b\u003eHead of Wealth with Responsibility Program,\u003cbr\u003e U.S. Private Wealth Management, Deutsche Bank\u003c\/p\u003e","brand":"Bloomberg Press","offers":[{"title":"Default Title","offer_id":47989197635813,"sku":"NP9781576601518","price":45.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781576601518.jpg?v=1761783172","url":"https:\/\/k12savings.com\/es\/products\/family-wealth-isbn-9781576601518","provider":"K12savings","version":"1.0","type":"link"}