Developing and preserving family wealth and strong values takes great effort. What can you do to make sure your next generations are building on what's important to your family rather than blowing it? Why is the most common pattern "shirtsleeves to shirtsleeves in three generations"?
Most families within one generation develop tangible and intangible values they are proud of. But all too often that which is valuable to one generation is not effectively transferred to future generations.
In this episode, we'll introduce you to two families that have managed to pass various forms of wealth to six or seven generations, including family businesses that have endured for over 200 years. Pierre DuPont shares a real-life case study of hard-earned lessons from his family which has been one of the wealthiest families in America for many generations. You'll gain great wisdom from his intention to help other families and business leaders create a more positive, multi-generational legacy.
Learn from the experience of world-renowned families how to manage, maintain, and preserve financial and non-financial family wealth in ways that benefit future generations. Find out how you can help your children, grandchildren, and all future descendants sustain principles that can multiply your family's success!
Episode Highlights:
Pierre talks about his family history, inherited wealth, the businesses developed, and his definition of wealth.
We discuss:
Forms of financial and non-financial wealth
The best paradigm for generational wealth transfer
Positive and negative impacts of financial wealth to your future descendants
The value of open, honest, inclusive communication about family traditions
Common principles and practices about finance in relation to family wealth
The importance of training and mentoring family members of what's important to the family
Purpose and goals for wealth
And we talk about how to:
Keep families together over multiple generations
Guide your future descendants on how to preserve and wisely utilize their financial wealth
Develop and maintain family bonds and traditions over the generation
Engage family members in business and philanthropy
Pass the wealth to your descendants with appropriate guidance
Thank you
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