{"product_id":"complete-family-wealth-isbn-9781119820031","title":"Complete Family Wealth","description":"\u003cb\u003eA primer for families of high net worth on how to manage their qualitative and financial wealth for generations\u003c\/b\u003e \u003cp\u003eThe second edition of this foundational work, \u003ci\u003eComplete Family Wealth: Wealth as Well-Being\u003c\/i\u003e provides proven tools and best practices for families of means to use in maturing, maintaining, and managing personal and legacy wealth long into the future. The book is divided into three parts: the \"what\"—what is meant by family, wealth, and enterprise; the \"who\"—the persons crucial to family enterprise flourishing; and the \"how\"—specific practices families can use to enhance and grow family wealth. \u003c\/p\u003e\u003cp\u003eThe second edition of this work places the health and well-being of the individual members of the family unit at the forefront of every aspect detailed within the book. A natural product of this focus is an increased awareness of the social complexities of wealth that have come to the fore in recent years, and the team of expert authors here address the responsibility of private wealth to the public good. In addition, \u003ci\u003eComplete Family Wealth\u003c\/i\u003e's second edition provides readers with: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eA new chapter on \"the big reveal,\" suggesting ways to encourage positive, life-affirming reception of the revelation of present or future wealth\u003c\/li\u003e \u003cli\u003eAn additional chapter on preserving the beloved family vacation home\u003c\/li\u003e \u003cli\u003eTwo new appendices: \"Fiduciary Course Curriculum,\" dedicated to enhancing the education of trustees and beneficiaries; and \"Key Practices for Families During Challenging Times,\" a response to the pandemic but relevant to all trying periods for families\u003c\/li\u003e \u003cli\u003eExamples that make these practices accessible to a broad audience across the wealth spectrum.\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eHaving shaped the language used by families and their advisors with the first edition, \u003ci\u003eComplete Family Wealth\u003c\/i\u003e's second edition is essential reading for families of high net worth and their financial advisors. It will also be of interest to family offices, fund managers, as well as private investors. \u003c\/p\u003e\u003cp\u003ePreface to the Second Edition xv\u003c\/p\u003e \u003cp\u003ePreface to the First Edition xvii\u003c\/p\u003e \u003cp\u003eIntroduction\u003c\/p\u003e \u003cp\u003e\u003cb\u003eAn Invitation 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Welcome from James (Jay) Hughes, Esq 1\u003c\/p\u003e \u003cp\u003eA Welcome from Dr. Susan Massenzio 3\u003c\/p\u003e \u003cp\u003eA Welcome from Dr. Keith Whitaker 4\u003c\/p\u003e \u003cp\u003eThe Path Ahead 6\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Complete Wealth 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRight Understanding 9\u003c\/p\u003e \u003cp\u003eComplete Wealth 10\u003c\/p\u003e \u003cp\u003eThe Five Types of Qualitative Capital 11\u003c\/p\u003e \u003cp\u003eGrowing Capital 13\u003c\/p\u003e \u003cp\u003eA Provocative Comparison 16\u003c\/p\u003e \u003cp\u003eMeasuring Qualitative Capital 17\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Family Enterprise 19\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAffinity 19\u003c\/p\u003e \u003cp\u003eFlourishing 20\u003c\/p\u003e \u003cp\u003eThe Three-Circle\u003c\/p\u003e \u003cp\u003eModel 22\u003c\/p\u003e \u003cp\u003eActive Ownership 25\u003c\/p\u003e \u003cp\u003ex Contents\u003c\/p\u003e \u003cp\u003eTransition 28\u003c\/p\u003e \u003cp\u003eTime 30\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Principles 33\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 The Rising Generation 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Rising? 37\u003c\/p\u003e \u003cp\u003eThe Effects of the Black Hole 38\u003c\/p\u003e \u003cp\u003eThe Challenge 40\u003c\/p\u003e \u003cp\u003eMeeting the Challenge 42\u003c\/p\u003e \u003cp\u003eRising in the Middle Passage 45\u003c\/p\u003e \u003cp\u003eSetting Off 45\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 The Big Reveal 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eConfirmation 47\u003c\/p\u003e \u003cp\u003eWhat’s Next? 49\u003c\/p\u003e \u003cp\u003eThe Pause 50\u003c\/p\u003e \u003cp\u003eCourage 53\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Parents 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGiving 55\u003c\/p\u003e \u003cp\u003eKnow Thyself 56\u003c\/p\u003e \u003cp\u003eNothing Too Much 57\u003c\/p\u003e \u003cp\u003eHow Much Is Enough? Fair versus Equal? 58\u003c\/p\u003e \u003cp\u003eCommunication and Control 58\u003c\/p\u003e \u003cp\u003eGiving as Grandparents 60\u003c\/p\u003e \u003cp\u003eLetting Go 62\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Spouses 63\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTough Questions 63\u003c\/p\u003e \u003cp\u003eFiscal Difference 63\u003c\/p\u003e \u003cp\u003eThe Three-Step Process 65\u003c\/p\u003e \u003cp\u003eSpouses and Family Meetings 67\u003c\/p\u003e \u003cp\u003eBlended Families 68\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Elders 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e“Old Age Hath Yet Its Honor and Its Toil” 69\u003c\/p\u003e \u003cp\u003eCharacteristics 70\u003c\/p\u003e \u003cp\u003eTwo Practices 72\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Trustees and Beneficiaries 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHuman Consequences 75\u003c\/p\u003e \u003cp\u003eVocabulary 76\u003c\/p\u003e \u003cp\u003eActivity 80\u003c\/p\u003e \u003cp\u003eDistributions 83\u003c\/p\u003e \u003cp\u003eConclusion 87\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Advisers 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQuestions to Consider 89\u003c\/p\u003e \u003cp\u003eMoney 90\u003c\/p\u003e \u003cp\u003e\u003ci\u003ePersonnes de Confiance \u003c\/i\u003e91\u003c\/p\u003e \u003cp\u003eCounselors, Coaches, and Facilitators 92\u003c\/p\u003e \u003cp\u003eMentors 93\u003c\/p\u003e \u003cp\u003eA Father’s Wisdom 94\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Friends 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFriends as Wealth 95\u003c\/p\u003e \u003cp\u003eWealth and Friends 97\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Character 101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistory 101\u003c\/p\u003e \u003cp\u003eWhat Works 103\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Work 105\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMeaning 105\u003c\/p\u003e \u003cp\u003eStrengths and Flow 106\u003c\/p\u003e \u003cp\u003eThe Human Work 107\u003c\/p\u003e \u003cp\u003ePlay 108\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Talking with Children about Wealth 111\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDevelopment 111\u003c\/p\u003e \u003cp\u003eThe Power of the Teachable Moment 112\u003c\/p\u003e \u003cp\u003eAre We Rich? 112\u003c\/p\u003e \u003cp\u003eCuriosity 113\u003c\/p\u003e \u003cp\u003eAllowances 113\u003c\/p\u003e \u003cp\u003eAdolescents 114\u003c\/p\u003e \u003cp\u003eManaging Privacy 116\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Prenuptial Agreements 117\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIntroduction 117\u003c\/p\u003e \u003cp\u003eWhat Is a Prenuptial Agreement? 118\u003c\/p\u003e \u003cp\u003eHow Best to Approach a Prenuptial Agreement 120\u003c\/p\u003e \u003cp\u003eFor Parents of the Prospective Spouses 121\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Getting Started 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eQuestions 123\u003c\/p\u003e \u003cp\u003eQuestions for Reflection 124\u003c\/p\u003e \u003cp\u003ePractices 124\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Family Meetings 127\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePreparation 127\u003c\/p\u003e \u003cp\u003eWhy? 128\u003c\/p\u003e \u003cp\u003eWhat to Do in a Family Meeting? 129\u003c\/p\u003e \u003cp\u003eWho to Have at a Family Meeting? 130\u003c\/p\u003e \u003cp\u003eWhen to Hold a Family Meeting? 131\u003c\/p\u003e \u003cp\u003eHow to Run an Effective Family Meeting? 132\u003c\/p\u003e \u003cp\u003eWhere to Hold the Meeting? 133\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Family Stories and Rituals 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Stuff of Life 137\u003c\/p\u003e \u003cp\u003eRituals 139\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Family Mission Statements 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy a Family Mission Statement Matters 143\u003c\/p\u003e \u003cp\u003eWhat Is a Family Mission Statement? 144\u003c\/p\u003e \u003cp\u003eHow to Create a Family Mission Statement 145\u003c\/p\u003e \u003cp\u003eHow to Use a Family Mission Statement 146\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 Family Governance 149\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHumility and Freedom 149\u003c\/p\u003e \u003cp\u003eConstitution, Council, and Assembly 150\u003c\/p\u003e \u003cp\u003eDesign 153\u003c\/p\u003e \u003cp\u003eRatification 154\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 Financial Capital 157\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eReturn 157\u003c\/p\u003e \u003cp\u003eTwo Practices 159\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 Preserving a Family Vacation Home 165\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHard Questions 165\u003c\/p\u003e \u003cp\u003eFamily Culture as the Solution 166\u003c\/p\u003e \u003cp\u003eFacing Realities 167\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 23 Family Philanthropy 169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Benefits of Family Philanthropy 169\u003c\/p\u003e \u003cp\u003ePhilanthropy for the Family 170\u003c\/p\u003e \u003cp\u003eGetting Started 171\u003c\/p\u003e \u003cp\u003eMagnificence 173\u003c\/p\u003e \u003cp\u003e\u003cb\u003eConclusion\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eIndividual Flourishing 175\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMany Blossoms 175\u003c\/p\u003e \u003cp\u003eThe Five Ls 176\u003c\/p\u003e \u003cp\u003eThe Four Cs 177\u003c\/p\u003e \u003cp\u003eThree Little Words 178\u003c\/p\u003e \u003cp\u003e\u003cb\u003eEpilogue\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eThe Future? 181\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEvolutions in Human Development 181\u003c\/p\u003e \u003cp\u003eChanges in Family Structure 182\u003c\/p\u003e \u003cp\u003eNew Understandings of Family Wealth 182\u003c\/p\u003e \u003cp\u003eChina 183\u003c\/p\u003e \u003cp\u003eAppendix One: Fiduciary Course Curriculum 185\u003c\/p\u003e \u003cp\u003eAppendix Two: Key Practices for Families During\u003c\/p\u003e \u003cp\u003eChallenging Times 195\u003c\/p\u003e \u003cp\u003eAbout the Authors 201\u003c\/p\u003e \u003cp\u003eIndex 203\u003c\/p\u003e \u003cp\u003e\u003cb\u003eJAMES E. HUGHES, JR.\u003c\/b\u003e is a retired attorney and the author or co-author of several books on the dynamic preservation of true family wealth, including \u003ci\u003eFamily Wealth: Keeping It In The Family, Family: The Compact Among Generations,\u003c\/i\u003e and \u003ci\u003eCycle of the Gift: Family Wealth \u0026amp; Wisdom.\u003c\/i\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eSUSAN E. MASSENZIO, P\u003csmall\u003eH\u003c\/small\u003eD, \u003c\/b\u003eis a psychologist and co-founder  of Wise Counsel Research, a think tank and consultancy. She has extensive experience consulting to senior executives, helping leaders develop effective succession plans. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eKEITH WHITAKER, P\u003csmall\u003eH\u003c\/small\u003eD,\u003c\/b\u003e is an educator and co-founder of Wise Counsel Research. He has extensive experience consulting to leaders of enterprising families, helping to plan succession, develop next-generation talent, and communicate around estate planning.  \u003c\/p\u003e\u003cp\u003eIn the newly revised\u003ci\u003e Second Edition \u003c\/i\u003eof \u003ci\u003eComplete Family Wealth,\u003c\/i\u003e a dedicated team of veteran advisors offers a comprehensive resource for growing, maintaining, and managing wealth across multiple generations. In the book, you’ll find complete and insightful treatments of the “Five Capitals”—human, legacy, family, structure, and social—that, together, sustain family wealth across time.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eComplete Family Wealth, Second Edition\u003c\/i\u003e discusses the “what,” “who,” and “how” of family wealth management in intuitively organized chapters that allow you to jump immediately to any section you desire. You’ll explore everything from the principles of family enterprise to family governance, philanthropy, and more. You’ll also discover the unique roles played by each family member, and the responsibilities they carry with respect to the family business. \u003c\/p\u003e\u003cp\u003eThe \u003ci\u003eSecond Edition\u003c\/i\u003e incorporates a new chapter on “The Big Reveal,” that moment in time when future generations are introduced to their present or future financial wealth. The authors share time-tested strategies for increasing the likelihood that recipients will flourish and integrate this information, rather than fight it, freeze, or take flight. \u003c\/p\u003e\u003cp\u003eOther new additions to the book include a chapter on preserving a beloved family vacation home, as well as two new appendices: one detailing a “Fiduciary Course Curriculum” for families who wish to improve the understanding of their trustees and beneficiaries, and a second that discusses crucial practices for families during challenging times (like the ongoing COVID-19 pandemic). \u003c\/p\u003e\u003cp\u003eWith the guidance and strategies you need to keep your family’s wealth intact, \u003ci\u003eComplete Family Wealth, Second Edition\u003c\/i\u003e offers families with wealth, and those who advise them, the critical knowledge that’s required to protect and build on what you’ve worked so hard to create over decades.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eMaximize your family’s well-being and wealth across generations\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFamilies of means require sound planning and strategy to ensure that the wealth they’ve built over time does not disappear as it is transferred to new generations. In the \u003ci\u003eSecond Edition of Complete Family Wealth,\u003c\/i\u003e distinguished family advisors James Hughes, Drs. Susan Massenzio, and Keith Whitaker provide readers with an intuitive and holistic approach to managing, growing, and maintaining wealth across generations. \u003c\/p\u003e\u003cp\u003eWith new chapters that detail specific moments in time—like revealing to the next generation that they will inherit significant wealth—or specific tasks—like maintaining a family vacation home—this latest edition also offers new information on improving the learning of trustees and beneficiaries and meeting the challenges presented during historically difficult times. \u003c\/p\u003e\u003cp\u003eAlong with practical and hands-on guidance regarding how to handle common challenges, like preparing for family meetings and discussions, \u003ci\u003eComplete Family Wealth, Second Edition\u003c\/i\u003e delivers a coherent blueprint to sustaining a family enterprise across time. It’s ideal for families with wealth, families that run successful enterprises, and the professionals who serve these families and seek to help them maximize their wealth and well-being across generations.\u003c\/p\u003e","brand":"Bloomberg Press","offers":[{"title":"Default Title","offer_id":47988959019237,"sku":"NP9781119820031","price":42.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119820031.jpg?v=1761782211","url":"https:\/\/k12savings.com\/products\/complete-family-wealth-isbn-9781119820031","provider":"K12savings","version":"1.0","type":"link"}